Veritable L.P. purchased a new stake in Smith (A.O.) Corporation (NYSE:AOS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,022 shares of the industrial products company’s stock, valued at approximately $452,000.

Other hedge funds also recently made changes to their positions in the company. State of Tennessee Treasury Department boosted its position in Smith (A.O.) Corporation by 143.9% in the second quarter. State of Tennessee Treasury Department now owns 536,200 shares of the industrial products company’s stock valued at $30,204,000 after buying an additional 316,400 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Smith (A.O.) Corporation by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 553,602 shares of the industrial products company’s stock worth $31,185,000 after buying an additional 33,790 shares in the last quarter. Credit Suisse AG increased its holdings in shares of Smith (A.O.) Corporation by 2.1% during the first quarter. Credit Suisse AG now owns 397,500 shares of the industrial products company’s stock worth $20,336,000 after buying an additional 8,207 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Smith (A.O.) Corporation by 23.3% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,271 shares of the industrial products company’s stock worth $2,719,000 after buying an additional 9,130 shares in the last quarter. Finally, Somerset Trust Co increased its holdings in shares of Smith (A.O.) Corporation by 0.4% during the second quarter. Somerset Trust Co now owns 12,433 shares of the industrial products company’s stock worth $701,000 after buying an additional 55 shares in the last quarter. 74.00% of the stock is currently owned by institutional investors and hedge funds.

In other Smith (A.O.) Corporation news, Director Paul W. Jones sold 60,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $54.02, for a total transaction of $3,241,200.00. Following the completion of the sale, the director now directly owns 277,465 shares in the company, valued at $14,988,659.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.27% of the stock is owned by insiders.

A number of research analysts have recently issued reports on AOS shares. BidaskClub cut shares of Smith (A.O.) Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. BMO Capital Markets reissued a “buy” rating and issued a $60.00 target price on shares of Smith (A.O.) Corporation in a report on Friday, July 28th. Robert W. Baird set a $61.00 price target on Smith (A.O.) Corporation and gave the stock a “buy” rating in a research report on Thursday, August 24th. KeyCorp restated a “hold” rating on shares of Smith (A.O.) Corporation in a research report on Tuesday, September 12th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Smith (A.O.) Corporation in a report on Friday, July 14th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $66.83.

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Smith (NYSE:AOS) opened at 59.99 on Tuesday. The firm has a 50 day moving average of $56.55 and a 200-day moving average of $54.77. Smith has a 52 week low of $43.66 and a 52 week high of $60.05. The company has a market capitalization of $10.35 billion, a P/E ratio of 30.45 and a beta of 1.49.

Smith (A.O.) Corporation (NYSE:AOS) last posted its quarterly earnings results 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. The business had revenue of $738.20 million for the quarter, compared to analyst estimates of $729.33 million. Smith (A.O.) Corporation had a net margin of 12.10% and a return on equity of 22.25%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. On average, analysts forecast that Smith will post $2.11 earnings per share for the current year.

Smith (A.O.) Corporation 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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