Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in Smith (A.O.) Corporation (NYSE:AOS) by 9.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 434,901 shares of the industrial products company’s stock after selling 44,847 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.25% of Smith (A.O.) Corporation worth $24,498,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Korea Investment CORP acquired a new stake in shares of Smith (A.O.) Corporation during the first quarter valued at approximately $102,000. CENTRAL TRUST Co boosted its stake 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 during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Smith (A.O.) Corporation during the second quarter valued at approximately $113,000. Van ECK Associates Corp boosted its stake 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 during the last quarter. Finally, Creative Planning boosted its stake in shares of 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 valued at $151,000 after buying an additional 1,672 shares during the last quarter. Institutional investors own 74.09% of the company’s stock.

Smith (AOS) opened at 53.90 on Monday. Smith has a 1-year low of $43.66 and a 1-year high of $57.97. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of 27.36 and a beta of 1.51. The firm has a 50-day moving average price of $55.11 and a 200 day moving average price of $53.39.

Smith (A.O.) Corporation (NYSE:AOS) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. The business had revenue of $738.20 million for the quarter, compared to analysts’ expectations of $729.33 million. Smith (A.O.) Corporation had a return on equity of 22.25% and a net margin of 12.10%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 EPS. Equities analysts predict that Smith will post $2.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were given a dividend of $0.14 per share. 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 payout ratio is 28.43%.

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Several analysts have recently commented on the company. Zacks Investment Research cut Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. BidaskClub cut Smith (A.O.) Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. BMO Capital Markets restated a “buy” rating and set a $60.00 target price on shares of Smith (A.O.) Corporation in a report on Friday, July 28th. Jefferies Group LLC set a $60.00 target price on Smith (A.O.) Corporation and gave the stock a “buy” rating in a report on Thursday, June 1st. Finally, Robert W. Baird set a $61.00 target price on Smith (A.O.) Corporation and gave the stock a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $66.83.

In other Smith (A.O.) Corporation news, insider John J. Kita sold 12,200 shares of Smith (A.O.) Corporation stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $56.32, for a total transaction of $687,104.00. Following the sale, the insider now directly owns 85,067 shares of the company’s stock, valued at approximately $4,790,973.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul W. Jones sold 60,000 shares of Smith (A.O.) Corporation stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders own 1.27% of the company’s stock.

Smith (A.O.) Corporation Company Profile

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.

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

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