Legal & General Group Plc raised its stake in shares of Smith (A.O.) Corporation (NYSE:AOS) by 16.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 265,898 shares of the industrial products company’s stock after buying an additional 36,599 shares during the period. Legal & General Group Plc owned about 0.15% of Smith (A.O.) Corporation worth $14,978,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of Smith (A.O.) Corporation by 18.8% in the second quarter. SG Americas Securities LLC now owns 79,057 shares of the industrial products company’s stock valued at $4,453,000 after buying an additional 12,513 shares during the last quarter. Trillium Asset Management LLC increased its position in shares of Smith (A.O.) Corporation by 1.4% in the second quarter. Trillium Asset Management LLC now owns 123,905 shares of the industrial products company’s stock valued at $6,980,000 after buying an additional 1,767 shares during the last quarter. Pitcairn Co. increased its position in shares of Smith (A.O.) Corporation by 14.8% in the second quarter. Pitcairn Co. now owns 32,326 shares of the industrial products company’s stock valued at $1,821,000 after buying an additional 4,178 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Smith (A.O.) Corporation by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 74,681 shares of the industrial products company’s stock valued at $4,219,000 after buying an additional 220 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Smith (A.O.) Corporation by 162.1% in the second quarter. First Trust Advisors LP now owns 440,079 shares of the industrial products company’s stock valued at $24,790,000 after buying an additional 272,194 shares during the last quarter. Institutional investors and hedge funds own 74.09% of the company’s stock.

Shares of Smith (AOS) opened at 55.79 on Friday. Smith has a 52-week low of $43.66 and a 52-week high of $57.97. The company has a 50 day moving average price of $54.79 and a 200-day moving average price of $53.58. The stock has a market capitalization of $9.63 billion, a P/E ratio of 28.32 and a beta of 1.49.

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 (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Smith (A.O.) Corporation had a return on equity of 22.25% and a net margin of 12.10%. The company had revenue of $738.20 million for the quarter, compared to analysts’ expectations of $729.33 million. During the same period in the previous year, the firm posted $0.49 EPS. Smith (A.O.) Corporation’s revenue was up 10.7% compared to the same quarter last year. On average, analysts predict that Smith will post $2.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, July 27th. Smith (A.O.) Corporation’s payout ratio is 28.43%.

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Several brokerages have recently commented on AOS. Robert W. Baird set a $61.00 price objective on Smith (A.O.) Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. Stifel Nicolaus restated a “hold” rating and issued a $56.00 price objective 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. Finally, BMO Capital Markets restated a “buy” rating and issued a $60.00 price objective on shares of Smith (A.O.) Corporation in a research report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $66.83.

In related news, Director Paul W. Jones sold 60,000 shares of Smith (A.O.) Corporation stock in a transaction dated Thursday, August 3rd. The stock was 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 approximately $14,988,659.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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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Institutional Ownership by Quarter for Smith (A.O.) Corporation (NYSE:AOS)

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