First Citizens Bank & Trust Co. raised its stake in Smith (A.O.) Corporation (NYSE:AOS) by 23.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 9,789 shares of the industrial products company’s stock after buying an additional 1,847 shares during the period. First Citizens Bank & Trust Co.’s holdings in Smith (A.O.) Corporation were worth $551,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Smith (A.O.) Corporation by 0.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,246 shares of the industrial products company’s stock valued at $166,000 after buying an additional 22 shares during the last quarter. Somerset Trust Co boosted its stake in shares of Smith (A.O.) Corporation by 0.4% in the second quarter. Somerset Trust Co now owns 12,433 shares of the industrial products company’s stock valued at $701,000 after buying an additional 55 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Smith (A.O.) Corporation by 3.7% in the second quarter. CENTRAL TRUST Co now owns 1,866 shares of the industrial products company’s stock valued at $105,000 after buying an additional 66 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Smith (A.O.) Corporation by 7.0% in the first quarter. Van ECK Associates Corp now owns 2,226 shares of the industrial products company’s stock valued at $114,000 after buying an additional 145 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Smith (A.O.) Corporation by 4.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,939 shares of the industrial products company’s stock valued at $188,000 after buying an additional 161 shares during the last quarter. Institutional investors own 74.63% of the company’s stock.
Shares of Smith (NYSE AOS) traded up 1.23% during midday trading on Friday, hitting $54.93. The company’s stock had a trading volume of 712,980 shares. The company has a market cap of $9.61 billion, a P/E ratio of 27.88 and a beta of 1.51. Smith has a 1-year low of $43.66 and a 1-year high of $57.97. The company has a 50-day moving average price of $56.34 and a 200 day moving average price of $52.75.
Smith (A.O.) Corporation (NYSE:AOS) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The company had revenue of $738.20 million for the quarter, compared to the consensus estimate of $729.33 million. Smith (A.O.) Corporation had a return on equity of 22.25% and a net margin of 12.10%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. On average, equities research analysts predict that Smith will post $2.11 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Thursday, July 27th. Smith (A.O.) Corporation’s dividend payout ratio (DPR) is currently 28.43%.
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Several brokerages have recently commented on AOS. Boenning Scattergood restated a “buy” rating on shares of Smith (A.O.) Corporation in a report on Wednesday, July 26th. BMO Capital Markets restated a “buy” rating and set a $60.00 target price on shares of Smith (A.O.) Corporation in a report on Friday, July 28th. BidaskClub cut Smith (A.O.) Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research cut Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC set a $60.00 target price on Smith (A.O.) Corporation and gave the stock a “buy” rating in a report on Thursday, June 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Smith (A.O.) Corporation has an average rating of “Buy” and a consensus target price of $66.80.
In other Smith (A.O.) Corporation news, Director Paul W. Jones sold 60,000 shares of the business’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 transaction of $3,241,200.00. Following the completion of the sale, the director now directly owns 277,465 shares of the company’s stock, valued at approximately $14,988,659.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James F. Stern sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $54.45, for a total value of $1,372,140.00. Following the sale, the vice president now directly owns 176,583 shares of the company’s stock, valued at $9,614,944.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,137 shares of company stock worth $5,992,357. 1.27% of the stock is owned by company insiders.
About Smith (A.O.) Corporation
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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