Silvant Capital Management LLC Buys Shares of 74,993 Smith (A.O.) Co. (AOS)

Silvant Capital Management LLC bought a new position in Smith (A.O.) Co. (NYSE:AOS) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 74,993 shares of the industrial products company’s stock, valued at approximately $4,769,000.

Several other large investors have also added to or reduced their stakes in the company. Bamco Inc. NY grew its position in shares of Smith (A.O.) by 5.0% in the 1st quarter. Bamco Inc. NY now owns 565,579 shares of the industrial products company’s stock worth $35,965,000 after buying an additional 26,685 shares during the period. Banque Pictet & Cie SA grew its position in shares of Smith (A.O.) by 1.1% in the 1st quarter. Banque Pictet & Cie SA now owns 96,200 shares of the industrial products company’s stock worth $6,117,000 after buying an additional 1,000 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Smith (A.O.) by 29.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 53,267 shares of the industrial products company’s stock worth $3,382,000 after buying an additional 12,231 shares during the period. EULAV Asset Management grew its position in shares of Smith (A.O.) by 97.9% in the 1st quarter. EULAV Asset Management now owns 56,600 shares of the industrial products company’s stock worth $3,599,000 after buying an additional 28,000 shares during the period. Finally, Douglass Winthrop Advisors LLC purchased a new stake in shares of Smith (A.O.) in the 1st quarter worth about $220,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Wilfridus M. Brouwer sold 30,000 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $63.11, for a total transaction of $1,893,300.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark D. Smith sold 2,600 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $62.73, for a total transaction of $163,098.00. Following the sale, the director now directly owns 109,609 shares in the company, valued at $6,875,772.57. The disclosure for this sale can be found here. Insiders have sold a total of 49,373 shares of company stock worth $3,157,807 over the last three months. 1.28% of the stock is currently owned by insiders.

AOS has been the topic of a number of recent research reports. ValuEngine raised shares of Smith (A.O.) from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Goldman Sachs raised shares of Smith (A.O.) from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 4th. Robert W. Baird reaffirmed a “buy” rating and issued a $70.00 target price on shares of Smith (A.O.) in a research report on Wednesday, January 31st. BMO Capital Markets reaffirmed a “buy” rating and issued a $78.00 target price on shares of Smith (A.O.) in a research report on Friday, January 26th. Finally, DA Davidson upped their target price on shares of Smith (A.O.) from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, April 26th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $69.29.

Shares of AOS stock opened at $63.22 on Friday. Smith has a one year low of $63.00 and a one year high of $63.29. The stock has a market cap of $10.80 billion, a P/E ratio of 29.13, a PEG ratio of 2.00 and a beta of 1.53. The company has a current ratio of 2.18, a quick ratio of 1.80 and a debt-to-equity ratio of 0.17.

Smith (A.O.) (NYSE:AOS) last announced its quarterly earnings data on Wednesday, April 25th. The industrial products company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Smith (A.O.) had a net margin of 10.10% and a return on equity of 23.77%. The company had revenue of $788.00 million for the quarter, compared to the consensus estimate of $791.76 million. During the same period in the prior year, the firm posted $0.50 EPS. Smith (A.O.)’s revenue for the quarter was up 6.5% on a year-over-year basis. analysts forecast that Smith will post 2.59 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, April 27th. Smith (A.O.)’s dividend payout ratio (DPR) is 33.18%.

About Smith (A.O.)

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for use in space heating applications for hospitals, schools, hotels, and other large 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 filtrations products for residences, restaurants, hotels, and offices.

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

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