Lbmc Investment Advisors LLC grew its stake in shares of A. O. Smith Corp (NYSE:AOS) by 0.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 56,150 shares of the industrial products company’s stock after buying an additional 274 shares during the period. A. O. Smith makes up 0.4% of Lbmc Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Lbmc Investment Advisors LLC’s holdings in A. O. Smith were worth $2,648,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Spearhead Capital Advisors LLC bought a new stake in shares of A. O. Smith during the second quarter valued at approximately $215,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in A. O. Smith by 31.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 73,709 shares of the industrial products company’s stock valued at $3,476,000 after buying an additional 17,800 shares during the period. Northstar Investment Advisors LLC acquired a new position in A. O. Smith in the second quarter valued at approximately $4,243,000. NEXT Financial Group Inc lifted its holdings in A. O. Smith by 18.3% in the second quarter. NEXT Financial Group Inc now owns 3,723 shares of the industrial products company’s stock valued at $176,000 after buying an additional 575 shares during the period. Finally, IFM Investors Pty Ltd lifted its holdings in A. O. Smith by 8.3% in the second quarter. IFM Investors Pty Ltd now owns 8,725 shares of the industrial products company’s stock valued at $411,000 after buying an additional 666 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.

A. O. Smith stock traded down $0.38 during mid-day trading on Monday, reaching $44.50. The company’s stock had a trading volume of 14,876 shares, compared to its average volume of 1,508,930. The stock has a market cap of $7.50 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.56. A. O. Smith Corp has a 12 month low of $40.34 and a 12 month high of $61.08. The firm’s 50 day simple moving average is $45.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.25 and a quick ratio of 1.82.

A. O. Smith (NYSE:AOS) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.04). A. O. Smith had a net margin of 13.81% and a return on equity of 25.01%. The firm had revenue of $748.20 million during the quarter, compared to the consensus estimate of $764.16 million. During the same period last year, the business earned $0.60 EPS. The business’s revenue was down 5.1% on a year-over-year basis. As a group, analysts predict that A. O. Smith Corp will post 2.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Tuesday, July 30th. A. O. Smith’s dividend payout ratio is presently 33.72%.

A. O. Smith announced that its board has initiated a share repurchase program on Monday, June 3rd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

AOS has been the topic of several analyst reports. Boenning Scattergood restated a “hold” rating on shares of Peoples Bancorp in a report on Wednesday, May 1st. ValuEngine lowered shares of Xylem from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Zacks Investment Research lowered shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Edward Jones lowered shares of A. O. Smith from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Finally, DA Davidson dropped their price objective on shares of A. O. Smith to $58.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $54.25.

In other news, Director Paul W. Jones sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $49.50, for a total transaction of $49,500.00. Following the completion of the sale, the director now owns 182,266 shares in the company, valued at approximately $9,022,167. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronald D. Brown sold 8,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $52.45, for a total transaction of $419,600.00. Following the sale, the director now owns 35,896 shares of the company’s stock, valued at approximately $1,882,745.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,010 shares of company stock valued at $944,468. 1.03% of the stock is currently owned by corporate insiders.

About A. O. Smith

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtration products for residences, restaurants, hotels, and offices.

Further Reading: Average Daily Trade Volume Explained

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

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