Kalmar Investments Inc. DE Raises Position in A.O. Smith Corp. (AOS)
Kalmar Investments Inc. DE raised its position in shares of A.O. Smith Corp. (NYSE:AOS) by 3.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 332,740 shares of the company’s stock after buying an additional 9,605 shares during the period. A.O. Smith Corp. comprises 1.3% of Kalmar Investments Inc. DE’s investment portfolio, making the stock its 23rd largest position. Kalmar Investments Inc. DE owned approximately 0.38% of A.O. Smith Corp. worth $29,318,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of A.O. Smith Corp. by 5.8% in the first quarter. Geode Capital Management LLC now owns 445,808 shares of the company’s stock worth $34,019,000 after buying an additional 24,477 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of A.O. Smith Corp. by 29.6% in the first quarter. Goldman Sachs Group Inc. now owns 977,835 shares of the company’s stock worth $74,618,000 after buying an additional 223,091 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of A.O. Smith Corp. by 3.5% in the first quarter. Pictet Asset Management Ltd. now owns 2,070,601 shares of the company’s stock worth $145,729,000 after buying an additional 70,131 shares during the period. UBS Group AG boosted its stake in shares of A.O. Smith Corp. by 71.2% in the first quarter. UBS Group AG now owns 113,180 shares of the company’s stock worth $8,637,000 after buying an additional 47,074 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of A.O. Smith Corp. during the first quarter worth approximately $3,664,000. Hedge funds and other institutional investors own 38.07% of the company’s stock.
Shares of A.O. Smith Corp. (NYSE:AOS) traded down 0.32% during trading on Tuesday, reaching $49.20. The company’s stock had a trading volume of 682,094 shares. The stock has a market capitalization of $8.59 billion, a PE ratio of 27.86 and a beta of 1.36. The firm’s 50-day moving average is $48.41 and its 200-day moving average is $44.05. A.O. Smith Corp. has a 12-month low of $30.15 and a 12-month high of $51.49.
A.O. Smith Corp. (NYSE:AOS) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. The firm had revenue of $667 million for the quarter, compared to analyst estimates of $696.69 million. A.O. Smith Corp. had a return on equity of 21.57% and a net margin of 12.23%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 earnings per share. Equities analysts expect that A.O. Smith Corp. will post $3.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.98%. A.O. Smith Corp.’s dividend payout ratio is currently 27.20%.
A number of analysts have recently commented on the stock. KeyCorp restated a “buy” rating and set a $107.00 target price on shares of A.O. Smith Corp. in a report on Thursday, October 6th. Zacks Investment Research upgraded shares of A.O. Smith Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 15th. Jefferies Group dropped their price target on shares of A.O. Smith Corp. from $55.50 to $43.00 and set a “buy” rating on the stock in a research note on Friday, September 23rd. BMO Capital Markets set a $53.00 price target on shares of A.O. Smith Corp. and gave the stock a “buy” rating in a research note on Monday, August 8th. Finally, SunTrust Banks Inc. dropped their price target on shares of A.O. Smith Corp. from $51.50 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, July 14th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. A.O. Smith Corp. presently has a consensus rating of “Buy” and a consensus price target of $53.79.
In related news, Director Mark D. Smith sold 1,146 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $93.76, for a total transaction of $107,448.96. Following the sale, the director now owns 54,850 shares of the company’s stock, valued at $5,142,736. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wilfridus M. Brouwer sold 6,200 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $93.29, for a total value of $578,398.00. Following the sale, the insider now directly owns 19,449 shares in the company, valued at approximately $1,814,397.21. The disclosure for this sale can be found here. Insiders own 1.76% of the company’s stock.
About A.O. Smith Corp.
A. O. Smith Corporation operates its business through two segments, which include North America and Rest of World. The Company’s Rest of World segment primarily comprises China, Europe and India. The Rest of World segment supplies water heaters to the residential market in China with a range of product offering, including electric, gas, gas tankless, heat pump and solar units, as well as combi boilers.
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