State of Alaska Department of Revenue lifted its holdings in shares of A. O. Smith Corp (NYSE:AOS) by 5.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 30,436 shares of the industrial products company’s stock after purchasing an additional 1,706 shares during the period. State of Alaska Department of Revenue’s holdings in A. O. Smith were worth $1,624,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Fort L.P. bought a new position in shares of A. O. Smith during the second quarter worth about $116,000. Signet Financial Management LLC bought a new position in A. O. Smith in the second quarter valued at approximately $119,000. Captrust Financial Advisors grew its stake in A. O. Smith by 83.6% in the second quarter. Captrust Financial Advisors now owns 2,264 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 1,031 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in A. O. Smith in the second quarter valued at approximately $142,000. Finally, Federated Investors Inc. PA bought a new position in A. O. Smith in the second quarter valued at approximately $145,000. Institutional investors own 75.52% of the company’s stock.
In other A. O. Smith news, Director Paul W. Jones sold 4,591 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $58.92, for a total value of $270,501.72. Following the sale, the director now owns 214,558 shares in the company, valued at approximately $12,641,757.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.28% of the company’s stock.
Several research analysts have recently commented on AOS shares. Oppenheimer reiterated a “hold” rating on shares of A. O. Smith in a research note on Wednesday, July 25th. BMO Capital Markets reiterated a “buy” rating and set a $73.00 target price on shares of A. O. Smith in a research note on Thursday, July 26th. ValuEngine cut A. O. Smith from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research raised A. O. Smith from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, August 7th. Finally, Boenning Scattergood reaffirmed a “buy” rating and issued a $75.00 price objective on shares of A. O. Smith in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $65.75.
Shares of A. O. Smith stock traded down $1.05 during trading on Friday, reaching $45.76. 3,173,408 shares of the company’s stock were exchanged, compared to its average volume of 3,177,287. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.75 and a current ratio of 2.16. A. O. Smith Corp has a 1-year low of $40.34 and a 1-year high of $68.39. The stock has a market capitalization of $8.14 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.45.
A. O. Smith (NYSE:AOS) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.02). The business had revenue of $754.10 million for the quarter, compared to analyst estimates of $805.92 million. A. O. Smith had a return on equity of 24.98% and a net margin of 10.83%. A. O. Smith’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. On average, research analysts forecast that A. O. Smith Corp will post 2.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.92%. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.18. A. O. Smith’s payout ratio is currently 40.55%.
A. O. Smith Company 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.
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