Telemus Capital LLC raised its stake in shares of Smith (A.O.) Corporation (NYSE:AOS) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,252 shares of the industrial products company’s stock after buying an additional 7 shares during the period. Telemus Capital LLC’s holdings in Smith (A.O.) Corporation were worth $3,788,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Smith (A.O.) Corporation by 2.7% in the first quarter. Vanguard Group Inc. now owns 13,458,672 shares of the industrial products company’s stock worth $688,546,000 after buying an additional 352,139 shares in the last quarter. BlackRock Inc. boosted its stake in Smith (A.O.) Corporation by 4,592.7% in the first quarter. BlackRock Inc. now owns 13,065,205 shares of the industrial products company’s stock worth $668,415,000 after buying an additional 12,786,787 shares in the last quarter. Janus Capital Management LLC raised its position in shares of Smith (A.O.) Corporation by 18.5% in the first quarter. Janus Capital Management LLC now owns 8,349,956 shares of the industrial products company’s stock worth $427,184,000 after buying an additional 1,306,490 shares during the last quarter. State Street Corp raised its position in shares of Smith (A.O.) Corporation by 12.5% in the first quarter. State Street Corp now owns 7,049,020 shares of the industrial products company’s stock worth $360,634,000 after buying an additional 781,403 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Smith (A.O.) Corporation by 38.1% in the first quarter. Alliancebernstein L.P. now owns 3,679,499 shares of the industrial products company’s stock worth $188,243,000 after buying an additional 1,014,464 shares during the last quarter. Institutional investors own 74.89% of the company’s stock.
Shares of Smith (NYSE:AOS) traded up 0.78% during trading on Monday, reaching $54.10. 428,830 shares of the company traded hands. The stock has a market capitalization of $9.33 billion, a P/E ratio of 27.46 and a beta of 1.51. The firm’s 50 day moving average is $55.75 and its 200-day moving average is $53.01. Smith has a 12-month low of $43.66 and a 12-month high of $57.97.
Smith (A.O.) Corporation (NYSE:AOS) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. Smith (A.O.) Corporation had a net margin of 12.10% and a return on equity of 22.25%. The business had revenue of $738.20 million for the quarter, compared to analysts’ expectations of $729.33 million. During the same period last year, the business earned $0.49 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Smith will post $2.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, July 27th. Smith (A.O.) Corporation’s dividend payout ratio (DPR) is presently 28.43%.
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Several research analysts have weighed in on the company. Jefferies Group LLC reissued a “buy” rating on shares of Smith (A.O.) Corporation in a research note on Friday, July 14th. BidaskClub downgraded Smith (A.O.) Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Boenning Scattergood restated a “buy” rating on shares of Smith (A.O.) Corporation in a report on Wednesday, July 26th. KeyCorp restated a “sector weight” rating on shares of Smith (A.O.) Corporation in a report on Friday, April 28th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $68.00.
In related news, Director Paul W. Jones sold 60,000 shares of Smith (A.O.) Corporation stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $54.02, for a total value of $3,241,200.00. Following the completion of the sale, the director now directly owns 277,465 shares in the company, valued at approximately $14,988,659.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John J. Kita sold 12,200 shares of Smith (A.O.) Corporation stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $56.32, for a total transaction of $687,104.00. Following the completion of the sale, the insider now owns 85,067 shares of the company’s stock, valued at $4,790,973.44. The disclosure for this sale can be found here. Insiders sold a total of 105,400 shares of company stock valued at $5,734,444 over the last quarter. 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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