SG Americas Securities LLC lowered its position in shares of Smith (A.O.) Corporation (NYSE:AOS) by 37.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,578 shares of the industrial products company’s stock after selling 29,479 shares during the quarter. SG Americas Securities LLC’s holdings in Smith (A.O.) were worth $2,946,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AOS. BlackRock Inc. raised its position in shares of Smith (A.O.) by 1.7% during the 2nd quarter. BlackRock Inc. now owns 13,286,159 shares of the industrial products company’s stock worth $748,410,000 after purchasing an additional 220,954 shares during the period. Janus Henderson Group PLC increased its position in Smith (A.O.) by 49,147.8% in the 2nd quarter. Janus Henderson Group PLC now owns 7,631,439 shares of the industrial products company’s stock valued at $429,879,000 after acquiring an additional 7,615,943 shares during the period. Victory Capital Management Inc. increased its position in Smith (A.O.) by 7.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,095,029 shares of the industrial products company’s stock valued at $124,508,000 after acquiring an additional 141,447 shares during the period. Northern Trust Corp increased its position in Smith (A.O.) by 8.6% in the 2nd quarter. Northern Trust Corp now owns 1,524,825 shares of the industrial products company’s stock valued at $85,894,000 after acquiring an additional 121,043 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in Smith (A.O.) by 8.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,494,082 shares of the industrial products company’s stock valued at $84,162,000 after acquiring an additional 110,047 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.
Shares of Smith (NYSE:AOS) traded up $0.19 during trading hours on Thursday, hitting $61.59. The company had a trading volume of 465,882 shares, compared to its average volume of 1,003,248. The company has a current ratio of 2.32, a quick ratio of 1.92 and a debt-to-equity ratio of 0.27. Smith has a twelve month low of $46.44 and a twelve month high of $63.70. The stock has a market capitalization of $10,587.33, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 2.32 and a beta of 1.55.
Smith (A.O.) (NYSE:AOS) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. Smith (A.O.) had a return on equity of 22.42% and a net margin of 12.18%. The company had revenue of $749.90 million for the quarter, compared to analyst estimates of $741.28 million. During the same period last year, the company earned $0.47 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. sell-side analysts anticipate that Smith will post 2.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Monday, October 30th. Smith (A.O.)’s dividend payout ratio is currently 27.45%.
A number of brokerages have issued reports on AOS. Stifel Nicolaus reaffirmed a “hold” rating and set a $61.00 price target on shares of Smith (A.O.) in a research note on Thursday, October 26th. Zacks Investment Research lowered Smith (A.O.) from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Robert W. Baird reissued a “buy” rating and set a $68.00 price objective on shares of Smith (A.O.) in a research note on Friday, October 27th. SunTrust Banks reissued a “buy” rating and set a $65.00 price objective on shares of Smith (A.O.) in a research note on Thursday, October 12th. Finally, KeyCorp reissued a “hold” rating on shares of Smith (A.O.) in a research note on Tuesday, September 12th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $62.80.
In related news, CEO Ajita G. Rajendra sold 15,000 shares of Smith (A.O.) stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $61.81, for a total transaction of $927,150.00. Following the sale, the chief executive officer now directly owns 299,369 shares of the company’s stock, valued at $18,503,997.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Ajita G. Rajendra sold 3,610 shares of Smith (A.O.) stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $62.74, for a total value of $226,491.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,156 shares of company stock worth $6,092,537. 1.27% of the stock is currently owned by company insiders.
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Smith (A.O.) 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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