World Asset Management Inc raised its stake in Smith (A.O.) Corporation (NYSE:AOS) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,686 shares of the industrial products company’s stock after buying an additional 291 shares during the period. World Asset Management Inc’s holdings in Smith (A.O.) Corporation were worth $602,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of AOS. Korea Investment CORP acquired a new position in shares of Smith (A.O.) Corporation during the first quarter valued at about $102,000. CENTRAL TRUST Co increased its position in shares of Smith (A.O.) Corporation by 3.7% in the second quarter. CENTRAL TRUST Co now owns 1,866 shares of the industrial products company’s stock valued at $105,000 after buying an additional 66 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Smith (A.O.) Corporation during the second quarter valued at about $113,000. Van ECK Associates Corp increased its position in shares of Smith (A.O.) Corporation by 7.0% in the first quarter. Van ECK Associates Corp now owns 2,226 shares of the industrial products company’s stock valued at $114,000 after buying an additional 145 shares in the last quarter. Finally, Creative Planning increased its stake in Smith (A.O.) Corporation by 130.9% in the first quarter. Creative Planning now owns 2,949 shares of the industrial products company’s stock worth $151,000 after buying an additional 1,672 shares during the period. Institutional investors and hedge funds own 74.89% of the company’s stock.
Shares of Smith (NYSE:AOS) traded down 0.17% during mid-day trading on Friday, reaching $53.93. 966,018 shares of the company’s stock traded hands. The company’s 50 day moving average is $55.45 and its 200-day moving average is $53.20. Smith has a 52 week low of $43.66 and a 52 week high of $57.97. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of 27.38 and a beta of 1.51.
Smith (A.O.) Corporation (NYSE:AOS) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The firm had revenue of $738.20 million for the quarter, compared to analysts’ expectations of $729.33 million. Smith (A.O.) Corporation had a net margin of 12.10% and a return on equity of 22.25%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. Equities analysts expect that Smith will post $2.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.56 annualized dividend and a yield of 1.04%. Smith (A.O.) Corporation’s dividend payout ratio (DPR) is presently 28.43%.
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A number of equities research analysts have weighed in on the company. Stifel Nicolaus restated a “hold” rating and issued a $56.00 target price on shares of Smith (A.O.) Corporation in a research report on Friday, August 11th. BidaskClub downgraded Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 price target on shares of Smith (A.O.) Corporation in a report on Friday, July 28th. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Smith (A.O.) Corporation in a report on Wednesday, July 26th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $68.00.
In other Smith (A.O.) Corporation news, Director Paul W. Jones sold 60,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $54.02, for a total value of $3,241,200.00. Following the sale, the director now directly owns 277,465 shares in the company, valued at $14,988,659.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronald D. Brown sold 8,000 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $54.25, for a total transaction of $434,000.00. Following the completion of the sale, the director now owns 43,896 shares in the company, valued at $2,381,358. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,400 shares of company stock worth $5,734,444. Company insiders own 1.27% of the company’s stock.
About Smith (A.O.) Corporation
A. O. Smith Corporation operates through two segments: North America and Rest of World. The Company’s Rest of World segment primarily consists of China, Europe and India. Both segments manufacture and market comprehensive lines of residential and commercial gas, gas tankless and electric water heaters, as well as water treatment products.
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