Smith (A.O.) Corporation (AOS) Position Trimmed by Evercore Wealth Management LLC

Evercore Wealth Management LLC reduced its position in Smith (A.O.) Corporation (NYSE:AOS) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 781,808 shares of the industrial products company’s stock after selling 12,894 shares during the quarter. Smith (A.O.) accounts for approximately 1.8% of Evercore Wealth Management LLC’s holdings, making the stock its 18th biggest holding. Evercore Wealth Management LLC owned approximately 0.45% of Smith (A.O.) worth $46,463,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AOS. Janus Henderson Group PLC raised its position in Smith (A.O.) by 49,147.8% in the 2nd quarter. Janus Henderson Group PLC now owns 7,631,439 shares of the industrial products company’s stock worth $429,879,000 after purchasing an additional 7,615,943 shares during the period. Wells Fargo & Company MN raised its position in Smith (A.O.) by 27.6% in the 3rd quarter. Wells Fargo & Company MN now owns 2,023,896 shares of the industrial products company’s stock worth $120,280,000 after purchasing an additional 438,063 shares during the period. Lord Abbett & CO. LLC raised its position in Smith (A.O.) by 289.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 550,241 shares of the industrial products company’s stock worth $30,995,000 after purchasing an additional 409,093 shares during the period. KBC Group NV raised its position in Smith (A.O.) by 372.8% in the 3rd quarter. KBC Group NV now owns 503,178 shares of the industrial products company’s stock worth $29,904,000 after purchasing an additional 396,752 shares during the period. Finally, Koch Industries Inc. purchased a new stake in Smith (A.O.) in the 2nd quarter worth about $383,000. 75.27% of the stock is currently owned by institutional investors.

Smith (AOS) opened at $62.81 on Monday. The company has a market cap of $10,798.80, a P/E ratio of 30.79, a PEG ratio of 2.36 and a beta of 1.55. Smith has a 1 year low of $46.44 and a 1 year high of $63.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.92 and a current ratio of 2.32.

Smith (A.O.) (NYSE:AOS) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.01. The business had revenue of $749.90 million for the quarter, compared to analyst estimates of $741.28 million. Smith (A.O.) had a net margin of 12.18% and a return on equity of 22.42%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. research analysts anticipate that Smith will post 2.13 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, October 30th. Smith (A.O.)’s dividend payout ratio (DPR) is presently 27.45%.

In other news, insider Peter R. Martineau sold 9,723 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $59.02, for a total transaction of $573,851.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Ajita G. Rajendra sold 3,610 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $62.74, for a total transaction of $226,491.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,863 shares of company stock worth $5,275,151. Corporate insiders own 1.27% of the company’s stock.

A number of research firms recently weighed in on AOS. Zacks Investment Research lowered shares of Smith (A.O.) from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Robert W. Baird reissued a “buy” rating and issued a $68.00 price objective on shares of Smith (A.O.) in a research report on Friday, October 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $61.00 target price on shares of Smith (A.O.) in a research report on Thursday, October 26th. Boenning Scattergood lowered shares of Smith (A.O.) from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 25th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $65.00 target price on shares of Smith (A.O.) in a research report on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.80.

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About Smith (A.O.)

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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Institutional Ownership by Quarter for Smith (A.O.) (NYSE:AOS)

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