Great West Life Assurance Co. Can increased its stake in shares of Smith (A.O.) Corporation (NYSE:AOS) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,520 shares of the industrial products company’s stock after buying an additional 3,263 shares during the period. Great West Life Assurance Co. Can’s holdings in Smith (A.O.) Corporation were worth $6,843,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. CENTRAL TRUST Co raised its stake in 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 in the last quarter. Korea Investment CORP bought a new stake in Smith (A.O.) Corporation during the first quarter valued at $102,000. Benjamin F. Edwards & Company Inc. bought a new stake in Smith (A.O.) Corporation during the second quarter valued at $113,000. Van ECK Associates Corp raised its stake in 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 in the last quarter. Finally, Creative Planning raised its stake in Smith (A.O.) Corporation by 130.9% in the first quarter. Creative Planning now owns 2,949 shares of the industrial products company’s stock valued at $151,000 after buying an additional 1,672 shares in the last quarter. Institutional investors own 74.64% of the company’s stock.
Shares of Smith (NYSE AOS) opened at 53.68 on Friday. Smith has a 52 week low of $43.66 and a 52 week high of $57.97. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 27.25 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 (A.O.) Corporation (NYSE:AOS) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $738.20 million during 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 quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. Equities research analysts predict that Smith will post $2.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.56 dividend on an annualized basis and a yield of 1.04%. Smith (A.O.) Corporation’s dividend payout ratio (DPR) is 28.43%.
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Several analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $56.00 price objective on shares of Smith (A.O.) Corporation in a research note on Friday. Zacks Investment Research lowered shares of Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub lowered shares of Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BMO Capital Markets restated a “buy” rating and set a $60.00 price target on shares of Smith (A.O.) Corporation in a research note on Friday, July 28th. Finally, Boenning Scattergood restated a “buy” rating on shares of Smith (A.O.) Corporation in a research note on Wednesday, July 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $68.00.
In other Smith (A.O.) Corporation news, Director Paul W. Jones sold 60,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $54.02, for a total value of $3,241,200.00. Following the completion of the transaction, the director now owns 277,465 shares in the company, valued at $14,988,659.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP James F. Stern sold 25,200 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 176,583 shares of the company’s stock, valued at approximately $9,614,944.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,400 shares of company stock valued at $5,734,444. 1.27% of the stock is owned by corporate insiders.
Smith (A.O.) Corporation Company Profile
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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