A. O. Smith Corp (AOS) Stake Lifted by Private Advisor Group LLC
Private Advisor Group LLC increased its stake in shares of A. O. Smith Corp (NYSE:AOS) by 55.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 17,077 shares of the industrial products company’s stock after acquiring an additional 6,066 shares during the period. Private Advisor Group LLC’s holdings in A. O. Smith were worth $1,080,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in AOS. Dimensional Fund Advisors LP lifted its position in A. O. Smith by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 692,161 shares of the industrial products company’s stock worth $38,989,000 after acquiring an additional 4,008 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of A. O. Smith in the 2nd quarter valued at approximately $1,036,000. WINTON GROUP Ltd raised its position in shares of A. O. Smith by 22.1% in the 2nd quarter. WINTON GROUP Ltd now owns 4,378 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 793 shares in the last quarter. Toronto Dominion Bank raised its position in shares of A. O. Smith by 11.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,807 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 191 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of A. O. Smith in the 3rd quarter valued at approximately $14,624,000. 74.28% of the stock is currently owned by hedge funds and other institutional investors.
AOS has been the topic of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $59.00 target price on shares of A. O. Smith in a research report on Monday, December 11th. Zacks Investment Research lowered A. O. Smith from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. BMO Capital Markets reaffirmed a “buy” rating and issued a $78.00 target price on shares of A. O. Smith in a research report on Friday, January 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of A. O. Smith in a research report on Tuesday, January 30th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $70.00 target price on shares of A. O. Smith in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. A. O. Smith has an average rating of “Hold” and an average price target of $67.83.
A. O. Smith (NYSE:AOS) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business had revenue of $768.60 million for the quarter, compared to analyst estimates of $767.45 million. A. O. Smith had a return on equity of 23.30% and a net margin of 9.89%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. equities research analysts forecast that A. O. Smith Corp will post 2.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were given a dividend of $0.18 per share. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Tuesday, January 30th. A. O. Smith’s dividend payout ratio is currently 33.18%.
In related news, Chairman Ajita G. Rajendra sold 6,800 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $64.02, for a total transaction of $435,336.00. Following the completion of the transaction, the chairman now directly owns 301,018 shares in the company, valued at approximately $19,271,172.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director William P. Greubel sold 17,856 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $66.50, for a total value of $1,187,424.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,635 shares of company stock worth $7,149,622. Corporate insiders own 1.28% of the company’s stock.
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About A. O. Smith
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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