Trust Investment Advisors reduced its stake in Smith (A.O.) Corporation (NYSE:AOS) by 4.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,565 shares of the industrial products company’s stock after selling 500 shares during the period. Trust Investment Advisors’ holdings in Smith (A.O.) Corporation were worth $651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Korea Investment CORP bought a new position in shares of Smith (A.O.) Corporation during the first quarter valued at about $102,000. CENTRAL TRUST Co raised its position in shares of Smith (A.O.) Corporation by 3.7% in the second quarter. CENTRAL TRUST Co now owns 1,866 shares of the industrial products company’s stock valued at $105,000 after buying an additional 66 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in shares of Smith (A.O.) Corporation during the second quarter valued at about $113,000. Van ECK Associates Corp raised its position in shares of Smith (A.O.) Corporation by 7.0% in the first quarter. Van ECK Associates Corp now owns 2,226 shares of the industrial products company’s stock valued at $114,000 after buying an additional 145 shares during the period. Finally, Creative Planning raised its position in shares of Smith (A.O.) Corporation by 130.9% in the first quarter. Creative Planning now owns 2,949 shares of the industrial products company’s stock valued at $151,000 after buying an additional 1,672 shares during the period. 74.63% of the stock is currently owned by hedge funds and other institutional investors.

Smith (AOS) opened at 54.93 on Friday. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 27.88 and a beta of 1.51. Smith has a 12 month low of $43.66 and a 12 month high of $57.97. The company has a 50-day moving average of $56.34 and a 200 day moving average of $52.75.

Smith (A.O.) Corporation (NYSE:AOS) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The company had revenue of $738.20 million for the quarter, compared to the consensus estimate of $729.33 million. Smith (A.O.) Corporation had a net margin of 12.10% and a return on equity of 22.25%. Smith (A.O.) Corporation’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. On average, equities research analysts anticipate that Smith will post $2.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a $0.14 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.56 dividend on an annualized basis and a yield of 1.02%. Smith (A.O.) Corporation’s dividend payout ratio is currently 28.43%.

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AOS has been the subject of several research reports. Zacks Investment Research upgraded shares of Smith (A.O.) Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, April 13th. KeyCorp reiterated a “sector weight” rating on shares of Smith (A.O.) Corporation in a research report on Friday, April 28th. They noted that the move was a valuation call. Jefferies Group LLC reiterated a “buy” rating on shares of Smith (A.O.) Corporation in a research report on Friday, July 14th. BidaskClub lowered shares of Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $60.00 target price on shares of Smith (A.O.) Corporation in a research report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $66.80.

In other Smith (A.O.) Corporation news, SVP Charles T. Lauber sold 3,987 shares of Smith (A.O.) Corporation stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $54.35, for a total value of $216,693.45. Following the sale, the senior vice president now directly owns 23,980 shares in the company, valued at approximately $1,303,313. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul W. Jones sold 60,000 shares of Smith (A.O.) Corporation stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $54.02, for a total transaction of $3,241,200.00. Following the completion of the sale, the director now owns 277,465 shares in the company, valued at $14,988,659.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,137 shares of company stock worth $5,992,357. 1.27% of the stock is currently owned by insiders.

Smith (A.O.) Corporation Company Profile

A. O. Smith Corporation operates through two segments: North America and Rest of World. The Company’s Rest of World segment primarily consists of China, Europe and India. Both segments manufacture and market comprehensive lines of residential and commercial gas, gas tankless and electric water heaters, as well as water treatment products.

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

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