A.O. Smith Corp. (AOS) Sees Large Volume Increase
Shares of A.O. Smith Corp. (NYSE:AOS) saw strong trading volume on Friday . 602,370 shares traded hands 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 research analysts have issued reports on the company. Zacks Investment Research upgraded A.O. Smith Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 15th. SunTrust Banks Inc. reduced their price objective on A.O. Smith Corp. from $103.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, July 14th. Longbow Research assumed coverage on A.O. Smith Corp. in a research note on Friday, June 17th. They issued a “neutral” rating for the company. Sterne Agee CRT restated a “buy” rating on shares of A.O. Smith Corp. in a research note on Monday, May 16th. Finally, BMO Capital Markets assumed coverage on A.O. Smith Corp. in a research note on Tuesday, April 5th. They issued an “outperform” rating and a $90.00 price objective for the company. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $83.33.
The stock has a 50 day moving average price of $86.52 and a 200 day moving average price of $76.98. The company has a market cap of $7.84 billion and a price-to-earnings ratio of 26.81.
A.O. Smith Corp. (NYSE:AOS) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.07. During the same quarter in the previous year, the firm posted $0.65 EPS. The company had revenue of $636.70 million for the quarter, compared to analysts’ expectations of $651.48 million. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts expect that A.O. Smith Corp. will post $3.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Wednesday, July 27th.
In other A.O. Smith Corp. news, CEO Ajita G. Rajendra sold 20,000 shares of A.O. Smith Corp. stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $82.74, for a total transaction of $1,654,800.00. Following the completion of the transaction, the chief executive officer now owns 150,185 shares in the company, valued at $12,426,306.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Peter R. Martineau sold 3,800 shares of the business’s stock in a transaction on Friday, May 27th. The stock was 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 approximately $232,680. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have bought and sold shares of the company. Vanguard Group Inc. boosted 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 valued at $479,184,000 after buying an additional 52,859 shares in the last quarter. Waterfront Capital Partners LLC boosted its position in A.O. Smith Corp. by 3.3% in the fourth quarter. Waterfront Capital Partners LLC now owns 388,500 shares of the company’s stock valued at $29,763,000 after buying an additional 12,500 shares in the last quarter. Principal Financial Group Inc. boosted its position in 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 valued at $19,207,000 after buying an additional 5,317 shares in the last quarter. New York State Common Retirement Fund boosted its position in 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 valued at $15,178,000 after buying an additional 7,390 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in A.O. Smith Corp. during the fourth quarter valued at $15,086,000.
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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