A.O. Smith Corp. (AOS) Reaches New 1-Year High at $94.88
A.O. Smith Corp. (NYSE:AOS) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $94.88 and last traded at $94.79, with a volume of 184,382 shares changing hands. The stock had previously closed at $93.39.
AOS has been the topic of a number of research analyst reports. KeyCorp restated an “overweight” rating and set a $88.00 price target on shares of A.O. Smith Corp. in a report on Friday, April 8th. Zacks Investment Research downgraded A.O. Smith Corp. from a “hold” rating to a “sell” rating in a report on Monday, April 18th. Sterne Agee CRT reiterated a “buy” rating on shares of A.O. Smith Corp. in a report on Monday, May 16th. Longbow Research started coverage on A.O. Smith Corp. in a report on Friday, June 17th. They set a “neutral” rating on the stock. Finally, SunTrust Banks Inc. reduced their target price on A.O. Smith Corp. from $103.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, July 14th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. A.O. Smith Corp. has a consensus rating of “Buy” and a consensus target price of $86.43.
The company has a 50 day moving average price of $88.86 and a 200 day moving average price of $78.61. The company has a market cap of $8.35 billion and a PE ratio of 26.72.
A.O. Smith Corp. (NYSE:AOS) last issued its earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The business earned $667 million during the quarter, compared to analyst estimates of $696.69 million. A.O. Smith Corp.’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. Equities analysts predict that A.O. Smith Corp. will post $3.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 29th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.02%.
In related news, Director Idelle K. Wolf sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $78.56, for a total value of $392,800.00. Following the transaction, the director now owns 30,212 shares in the company, valued at $2,373,454.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul W. Jones sold 80,400 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $78.77, for a total value of $6,333,108.00. Following the completion of the transaction, the director now owns 285,067 shares in the company, valued at approximately $22,454,727.59. The disclosure for this sale can be found here.
A number of institutional investors have recently added to or reduced their stakes in AOS. Vanguard Group Inc. increased its position in 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 in the last quarter. Principal Financial Group Inc. boosted its stake in shares of A.O. Smith Corp. by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 250,719 shares of the company’s stock worth $19,207,000 after buying an additional 5,317 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of A.O. Smith Corp. during the fourth quarter worth about $15,086,000. State of Tennessee Treasury Department boosted its stake in shares of A.O. Smith Corp. by 83.1% in the fourth quarter. State of Tennessee Treasury Department now owns 140,531 shares of the company’s stock worth $10,766,000 after buying an additional 63,800 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of A.O. Smith Corp. by 0.5% in the fourth quarter. US Bancorp DE now owns 62,773 shares of the company’s stock worth $4,809,000 after buying an additional 292 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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