Schwab Charles Investment Management Inc. raised its holdings in Smith (A.O.) Corporation (NYSE:AOS) by 6.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 553,602 shares of the industrial products company’s stock after buying an additional 33,790 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.32% of Smith (A.O.) Corporation worth $31,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Smith (A.O.) Corporation by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 13,458,672 shares of the industrial products company’s stock valued at $688,546,000 after buying an additional 352,139 shares during the last quarter. BlackRock Inc. grew its holdings in Smith (A.O.) Corporation by 4,592.7% in the 1st quarter. BlackRock Inc. now owns 13,065,205 shares of the industrial products company’s stock valued at $668,415,000 after buying an additional 12,786,787 shares during the last quarter. Janus Capital Management LLC grew its holdings in Smith (A.O.) Corporation by 18.5% in the 1st quarter. Janus Capital Management LLC now owns 8,349,956 shares of the industrial products company’s stock valued at $427,184,000 after buying an additional 1,306,490 shares during the last quarter. State Street Corp grew its holdings in Smith (A.O.) Corporation by 12.5% in the 1st quarter. State Street Corp now owns 7,049,020 shares of the industrial products company’s stock valued at $360,634,000 after buying an additional 781,403 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Smith (A.O.) Corporation by 38.1% in the 1st quarter. Alliancebernstein L.P. now owns 3,679,499 shares of the industrial products company’s stock valued at $188,243,000 after buying an additional 1,014,464 shares during the last quarter. 74.10% of the stock is currently owned by hedge funds and other institutional investors.

AOS has been the topic of a number of research analyst reports. Jefferies Group LLC set a $60.00 target price on Smith (A.O.) Corporation and gave the company a “buy” rating in a report on Thursday, June 1st. BidaskClub lowered Smith (A.O.) Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Boenning Scattergood reissued a “buy” rating on shares of Smith (A.O.) Corporation in a report on Wednesday, July 26th. BMO Capital Markets reissued a “buy” rating and set a $60.00 price objective on shares of Smith (A.O.) Corporation in a report on Friday, July 28th. Finally, Zacks Investment Research lowered Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $66.83.

Shares of Smith (AOS) opened at 57.95 on Thursday. The stock’s 50 day moving average price is $54.68 and its 200 day moving average price is $53.91. Smith has a one year low of $43.66 and a one year high of $58.27. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of 29.42 and a beta of 1.49.

Smith (A.O.) Corporation (NYSE:AOS) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, meeting the 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 firm had revenue of $738.20 million for the quarter, compared to analyst estimates of $729.33 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Smith will post $2.11 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Thursday, July 27th. Smith (A.O.) Corporation’s payout ratio is 28.43%.

In other news, Director Paul W. Jones sold 60,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 277,465 shares of the company’s stock, valued at $14,988,659.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.27% of the stock is currently owned by corporate insiders.

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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.

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

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