A.O. Smith Corp. (AOS) Sees Strong Trading Volume
Shares of A.O. Smith Corp. (NYSE:AOS) saw an uptick in trading volume on Friday . 602,370 shares were traded during mid-day trading, a decline of 7% from the previous session’s volume of 646,666 shares.The stock last traded at $88.86 and had previously closed at $89.65.
A number of brokerages recently issued reports on AOS. BMO Capital Markets began coverage on shares of A.O. Smith Corp. in a research note on Tuesday, April 5th. They issued an “outperform” rating and a $90.00 price target for the company. Zacks Investment Research raised shares of A.O. Smith Corp. from a “sell” rating to a “hold” rating in a report on Friday, April 29th. Sterne Agee CRT reaffirmed a “buy” rating on shares of A.O. Smith Corp. in a report on Monday, May 16th. KeyCorp reaffirmed an “overweight” rating and issued a $88.00 price objective on shares of A.O. Smith Corp. in a report on Friday, April 8th. Finally, SunTrust Banks Inc. decreased their price objective on shares of A.O. Smith Corp. from $103.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, July 14th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $83.33.
The firm has a 50 day moving average of $86.52 and a 200-day moving average of $76.98. The company has a market capitalization of $7.84 billion and a price-to-earnings ratio of 26.81.
A.O. Smith Corp. (NYSE:AOS) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $636.70 million for the quarter, compared to analyst estimates of $651.48 million. During the same quarter last year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts forecast that A.O. Smith Corp. will post $3.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 29th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, July 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.07%.
In related news, VP Robert J. Heideman sold 12,000 shares of the company’s stock in a transaction on Friday, April 29th. The stock was sold at an average price of $76.93, for a total value of $923,160.00. Following the completion of the transaction, the vice president now directly owns 23,806 shares in the company, valued at $1,831,395.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Peter R. Martineau sold 3,800 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $83.10, for a total value of $315,780.00. Following the completion of the transaction, the senior vice president now owns 2,800 shares of the company’s stock, valued at $232,680. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently modified their holdings of the company. California Public Employees Retirement System raised its position in shares of A.O. Smith Corp. by 2.6% in the fourth quarter. California Public Employees Retirement System now owns 294,500 shares of the company’s stock worth $22,562,000 after buying an additional 7,500 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of A.O. Smith Corp. by 3.9% in the fourth quarter. New York State Common Retirement Fund now owns 198,125 shares of the company’s stock worth $15,178,000 after buying an additional 7,390 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of A.O. Smith Corp. during the fourth quarter worth approximately $3,897,000. Brown Advisory Inc. raised its position in shares of A.O. Smith Corp. by 4.4% in the fourth quarter. Brown Advisory Inc. now owns 173,414 shares of the company’s stock worth $13,285,000 after buying an additional 7,246 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of A.O. Smith Corp. by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 6,254,859 shares of the company’s stock worth $479,184,000 after buying an additional 52,859 shares during the last quarter.
A. O. Smith Corporation operates its business through two segments, which include North America and Rest of World. The Company’s Rest of World segment primarily comprises China, Europe and India. The Rest of World segment supplies water heaters to the residential market in China with a range of product offering, including electric, gas, gas tankless, heat pump and solar units, as well as combi boilers.
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