Wells Fargo & Company MN Has $125.27 Million Position in Smith (A.O.) Co. (AOS)

Wells Fargo & Company MN increased its holdings in Smith (A.O.) Co. (NYSE:AOS) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,969,897 shares of the industrial products company’s stock after acquiring an additional 53,528 shares during the period. Wells Fargo & Company MN owned approximately 1.15% of Smith (A.O.) worth $125,266,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. grew its position in Smith (A.O.) by 0.5% in the fourth quarter. BlackRock Inc. now owns 9,903,069 shares of the industrial products company’s stock worth $606,860,000 after acquiring an additional 52,134 shares during the period. Alliancebernstein L.P. grew its position in Smith (A.O.) by 15.5% in the fourth quarter. Alliancebernstein L.P. now owns 4,074,225 shares of the industrial products company’s stock worth $249,669,000 after acquiring an additional 547,648 shares during the period. Impax Asset Management LTD grew its position in Smith (A.O.) by 5.0% in the fourth quarter. Impax Asset Management LTD now owns 1,935,569 shares of the industrial products company’s stock worth $118,612,000 after acquiring an additional 91,809 shares during the period. Geode Capital Management LLC boosted its position in shares of Smith (A.O.) by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 1,740,078 shares of the industrial products company’s stock worth $106,429,000 after buying an additional 39,859 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Smith (A.O.) by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,143,742 shares of the industrial products company’s stock worth $70,089,000 after buying an additional 10,580 shares during the period. Institutional investors own 74.56% of the company’s stock.

Smith (A.O.) opened at $64.50 on Tuesday, according to Marketbeat. Smith has a 52 week low of $53.23 and a 52 week high of $68.39. The firm has a market cap of $10.90 billion, a PE ratio of 29.72, a PEG ratio of 2.02 and a beta of 1.53. The company has a quick ratio of 1.80, a current ratio of 2.18 and a debt-to-equity ratio of 0.17.

Smith (A.O.) (NYSE:AOS) last announced its earnings results on Wednesday, April 25th. The industrial products company reported $0.60 EPS for the quarter, topping 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 business had revenue of $788.00 million during the quarter, compared to analysts’ expectations of $791.76 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. equities research analysts predict that Smith will post 2.59 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders 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 1.12%. The ex-dividend date was Friday, April 27th. Smith (A.O.)’s dividend payout ratio (DPR) is currently 33.18%.

In other Smith (A.O.) news, insider Wilfridus M. Brouwer sold 30,000 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $63.11, for a total transaction of $1,893,300.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Ajita G. Rajendra sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $66.55, for a total transaction of $332,750.00. Following the sale, the chairman now directly owns 301,018 shares in the company, valued at $20,032,747.90. The disclosure for this sale can be found here. Insiders have sold 37,600 shares of company stock worth $2,389,148 over the last ninety days. Insiders own 1.28% of the company’s stock.

Several research firms have recently commented on AOS. BMO Capital Markets restated a “buy” rating and set a $78.00 price target on shares of Smith (A.O.) in a research report on Friday, January 26th. Zacks Investment Research upgraded Smith (A.O.) from a “sell” rating to a “hold” rating and set a $75.00 price target for the company in a research report on Wednesday, January 31st. Robert W. Baird restated a “buy” rating and set a $70.00 price target on shares of Smith (A.O.) in a research report on Wednesday, January 31st. Boenning Scattergood restated a “hold” rating on shares of Smith (A.O.) in a research report on Tuesday, January 30th. Finally, ValuEngine upgraded Smith (A.O.) from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Smith (A.O.) currently has an average rating of “Buy” and an average price target of $69.14.

Smith (A.O.) Profile

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.

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

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