Carnick & Kubik Group LLC increased its position in shares of Smith (A.O.) Corporation (NYSE:AOS) by 21.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,958 shares of the industrial products company’s stock after buying an additional 3,133 shares during the period. Carnick & Kubik Group LLC’s holdings in Smith (A.O.) Corporation were worth $1,012,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. CENTRAL TRUST Co raised its stake in 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 worth $105,000 after buying an additional 66 shares during the period. Korea Investment CORP bought a new stake in Smith (A.O.) Corporation during the first quarter worth $102,000. Benjamin F. Edwards & Company Inc. bought a new stake in Smith (A.O.) Corporation during the second quarter worth $113,000. Van ECK Associates Corp raised its stake in 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 worth $114,000 after buying an additional 145 shares during the period. Finally, Creative Planning raised its stake in 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 worth $151,000 after buying an additional 1,672 shares during the period. 74.64% of the stock is owned by hedge funds and other institutional investors.

Shares of Smith (AOS) opened at 54.03 on Thursday. Smith has a 52 week low of $43.66 and a 52 week high of $57.97. The company has a 50-day moving average price of $55.91 and a 200-day moving average price of $52.96. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 27.43 and a beta of 1.51.

Smith (A.O.) Corporation (NYSE:AOS) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Smith (A.O.) Corporation had a return on equity of 22.25% and a net margin of 12.10%. The business had revenue of $738.20 million during the quarter, compared to analysts’ expectations of $729.33 million. During the same period in the prior year, the business earned $0.49 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts anticipate that Smith will post $2.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, July 27th. Smith (A.O.) Corporation’s dividend payout ratio (DPR) is currently 28.43%.

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A number of research firms have recently weighed in on AOS. Zacks Investment Research lowered Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub lowered Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BMO Capital Markets reissued a “buy” rating and set a $60.00 price objective on shares of Smith (A.O.) Corporation in a research note on Friday, July 28th. Boenning Scattergood reissued a “buy” rating on shares of Smith (A.O.) Corporation in a research note on Wednesday, July 26th. Finally, Jefferies Group LLC set a $60.00 price target on Smith (A.O.) Corporation and gave the stock a “buy” rating in a research note on Thursday, June 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Smith (A.O.) Corporation currently has an average rating of “Buy” and an average target price of $66.80.

In related news, Director Paul W. Jones sold 60,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was 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 directly owns 277,465 shares in the company, valued at approximately $14,988,659.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald D. Brown sold 8,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $54.25, for a total value of $434,000.00. Following the sale, the director now owns 43,896 shares of the company’s stock, valued at $2,381,358. The disclosure for this sale can be found here. Insiders have sold a total of 105,400 shares of company stock valued at $5,734,444 over the last 90 days. 1.27% of the stock is currently owned by company 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.

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

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