Morse Asset Management Inc lowered its position in shares of Smith (A.O.) Corporation (NYSE:AOS) by 41.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,350 shares of the industrial products company’s stock after selling 5,850 shares during the period. Morse Asset Management Inc’s holdings in Smith (A.O.) Corporation were worth $470,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AOS. Mn Services Vermogensbeheer B.V. boosted its position in shares of Smith (A.O.) Corporation by 4.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,939 shares of the industrial products company’s stock worth $188,000 after buying an additional 161 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of Smith (A.O.) Corporation by 94.0% in the first quarter. Conestoga Capital Advisors LLC now owns 24,915 shares of the industrial products company’s stock worth $1,275,000 after buying an additional 12,075 shares during the last quarter. DnB Asset Management AS boosted its position in shares of Smith (A.O.) Corporation by 56.9% in the first quarter. DnB Asset Management AS now owns 18,200 shares of the industrial products company’s stock worth $931,000 after buying an additional 6,600 shares during the last quarter. Cim LLC boosted its position in shares of Smith (A.O.) Corporation by 4.3% in the first quarter. Cim LLC now owns 18,851 shares of the industrial products company’s stock worth $965,000 after buying an additional 784 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Smith (A.O.) Corporation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 37,200 shares of the industrial products company’s stock worth $1,903,000 after buying an additional 700 shares during the last quarter. 74.64% of the stock is owned by institutional investors and hedge funds.

Shares of Smith (NYSE:AOS) opened at 54.03 on Thursday. The firm has a market cap of $9.45 billion, a PE ratio of 27.43 and a beta of 1.51. The company has a 50 day moving average price of $55.91 and a 200 day moving average price of $52.96. Smith has a 12-month low of $43.66 and a 12-month high of $57.97.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend 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 28.43%.

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A number of equities analysts have commented on the company. Jefferies Group LLC reissued a “buy” rating on shares of Smith (A.O.) Corporation in a report on Friday, July 14th. BidaskClub cut Smith (A.O.) Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Boenning Scattergood reissued a “buy” rating on shares of Smith (A.O.) Corporation in a report on Wednesday, July 26th. KeyCorp reissued a “sector weight” rating on shares of Smith (A.O.) Corporation in a report on Friday, April 28th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $66.80.

In related news, VP James F. Stern sold 25,200 shares of Smith (A.O.) Corporation stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $54.45, for a total transaction of $1,372,140.00. Following the completion of the transaction, the vice president now directly owns 176,583 shares in the company, valued at approximately $9,614,944.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald D. Brown sold 8,000 shares of Smith (A.O.) Corporation stock in a transaction that occurred 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 transaction, 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 worth $5,734,444 in the last three months. Corporate insiders own 1.27% of the company’s stock.

About Smith (A.O.) Corporation

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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