A.O. Smith Corp. (AOS) Position Reduced by Eagle Asset Management Inc.
Eagle Asset Management Inc. reduced its stake in shares of A.O. Smith Corp. (NYSE:AOS) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 234,349 shares of the company’s stock after selling 4,217 shares during the period. Eagle Asset Management Inc. owned 0.13% of A.O. Smith Corp. worth $23,151,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of A.O. Smith Corp. during the second quarter valued at about $106,000. Nordea Investment Management AB bought a new stake in shares of A.O. Smith Corp. during the second quarter valued at about $150,000. Daiwa Securities Group Inc. bought a new stake in shares of A.O. Smith Corp. during the second quarter valued at about $150,000. Mn Services Vermogensbeheer B.V. bought a new stake in shares of A.O. Smith Corp. during the second quarter valued at about $150,000. Finally, Timber Hill LLC bought a new stake in shares of A.O. Smith Corp. during the second quarter valued at about $201,000. Institutional investors and hedge funds own 37.60% of the company’s stock.
A.O. Smith Corp. (NYSE:AOS) traded down 0.98% during trading on Monday, reaching $48.72. 474,033 shares of the company’s stock traded hands. A.O. Smith Corp. has a 1-year low of $30.15 and a 1-year high of $51.49. The firm has a market capitalization of $8.47 billion, a PE ratio of 26.61 and a beta of 1.40. The firm has a 50 day moving average of $47.43 and a 200 day moving average of $45.58.
A.O. Smith Corp. (NYSE:AOS) last posted its earnings results on Wednesday, October 26th. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. A.O. Smith Corp. had a net margin of 12.32% and a return on equity of 21.84%. The firm earned $683.90 million during the quarter, compared to the consensus estimate of $577.20 million. During the same period last year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts forecast that A.O. Smith Corp. will post $1.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $0.48 annualized dividend and a yield of 0.98%. A.O. Smith Corp.’s dividend payout ratio (DPR) is currently 26.30%.
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Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of A.O. Smith Corp. from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Monday. BMO Capital Markets set a $53.00 target price on shares of A.O. Smith Corp. and gave the company a “buy” rating in a research report on Monday, August 8th. KeyCorp reiterated a “buy” rating and issued a $107.00 target price on shares of A.O. Smith Corp. in a research report on Thursday, October 6th. Finally, Jefferies Group dropped their target price on shares of A.O. Smith Corp. from $55.50 to $43.00 and set a “buy” rating on the stock in a research report on Friday, September 23rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $54.14.
In other A.O. Smith Corp. news, VP James F. Stern sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $47.69, for a total transaction of $953,800.00. Following the completion of the transaction, the vice president now directly owns 85,267 shares in the company, valued at approximately $4,066,383.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Charles T. Lauber sold 2,473 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $48.12, for a total transaction of $119,000.76. The disclosure for this sale can be found here. Company insiders own 1.76% of the company’s stock.
A.O. Smith Corp. Company Profile
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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