Peregrine Capital Management LLC lessened its holdings in shares of A. O. Smith Corp (NYSE:AOS) by 9.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 454,718 shares of the industrial products company’s stock after selling 50,063 shares during the quarter. Peregrine Capital Management LLC owned 0.27% of A. O. Smith worth $21,445,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AOS. Bremer Bank National Association acquired a new stake in A. O. Smith during the 1st quarter worth $25,000. Huntington National Bank raised its stake in A. O. Smith by 82.2% during the 1st quarter. Huntington National Bank now owns 512 shares of the industrial products company’s stock worth $27,000 after buying an additional 231 shares during the period. Penserra Capital Management LLC acquired a new stake in A. O. Smith during the 1st quarter worth $29,000. Signaturefd LLC raised its stake in A. O. Smith by 67.6% during the 1st quarter. Signaturefd LLC now owns 538 shares of the industrial products company’s stock worth $29,000 after buying an additional 217 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in A. O. Smith by 1,560.0% during the 1st quarter. Quadrant Capital Group LLC now owns 1,162 shares of the industrial products company’s stock worth $58,000 after buying an additional 1,092 shares during the period. 75.40% of the stock is currently owned by institutional investors and hedge funds.

In other A. O. Smith news, Director Paul W. Jones sold 1,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $49.50, for a total value 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 document filed with the SEC, which is available at this link. Also, VP Paul R. Dana sold 9,010 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $52.76, for a total transaction of $475,367.60. Following the completion of the sale, the vice president now owns 14,912 shares of the company’s stock, valued at approximately $786,757.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,010 shares of company stock valued at $944,468. Company insiders own 1.03% of the company’s stock.

Several research firms have issued reports on AOS. Jefferies Financial Group lifted their price target on PepsiCo from $123.00 to $134.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. ValuEngine downgraded Xylem from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Boenning Scattergood reissued a “hold” rating on shares of Peoples Bancorp in a research note on Wednesday, May 1st. Robert W. Baird lifted their price target on Cerner from $67.00 to $71.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, Edward Jones downgraded A. O. Smith from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. A. O. Smith presently has a consensus rating of “Hold” and an average price target of $54.25.

AOS opened at $41.93 on Tuesday. The company has a quick ratio of 1.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.18. A. O. Smith Corp has a fifty-two week low of $40.34 and a fifty-two week high of $61.08. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.93 and a beta of 1.56. The stock has a 50-day simple moving average of $45.40.

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

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $0.88 annualized dividend and a yield of 2.10%. A. O. Smith’s dividend payout ratio (DPR) is 33.72%.

A. O. Smith Profile

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.

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

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