Smith (A.O.) Corporation (AOS) Shares Bought by Pitcairn Co.
Pitcairn Co. raised its stake in shares of Smith (A.O.) Corporation (NYSE:AOS) by 14.8% during the second quarter, Holdings Channel reports. The firm owned 32,326 shares of the industrial products company’s stock after buying an additional 4,178 shares during the period. Pitcairn Co.’s holdings in Smith (A.O.) Corporation were worth $1,821,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. CENTRAL TRUST Co boosted its position 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 valued at $105,000 after buying an additional 66 shares during the period. Korea Investment CORP acquired a new position in Smith (A.O.) Corporation during the first quarter valued at $102,000. Benjamin F. Edwards & Company Inc. acquired a new position in Smith (A.O.) Corporation during the second quarter valued at $113,000. Van ECK Associates Corp boosted its position 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 valued at $114,000 after buying an additional 145 shares during the period. Finally, Creative Planning boosted its position 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 valued at $151,000 after buying an additional 1,672 shares during the period. 74.64% of the stock is currently owned by institutional investors.
Shares of Smith (AOS) opened at 53.68 on Friday. The company has a market cap of $9.26 billion, a PE ratio of 27.25 and a beta of 1.51. The company has a 50 day moving average price of $55.75 and a 200 day moving average price of $53.01. Smith has a 52 week low of $43.66 and a 52 week high of $57.97.
Smith (A.O.) Corporation (NYSE:AOS) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.53. The business had revenue of $738.20 million during the quarter, compared to the consensus estimate of $729.33 million. Smith (A.O.) Corporation had a return on equity of 22.25% and a net margin of 12.10%. Smith (A.O.) Corporation’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. On average, equities analysts expect that Smith will post $2.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.04%. Smith (A.O.) Corporation’s payout ratio is presently 28.43%.
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Several research firms have weighed in on AOS. Stifel Nicolaus reaffirmed a “hold” rating and set a $56.00 target price on shares of Smith (A.O.) Corporation in a research note on Friday. Zacks Investment Research cut Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub cut Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $60.00 target price on shares of Smith (A.O.) Corporation in a research note on Friday, July 28th. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Smith (A.O.) Corporation in a research note on Wednesday, July 26th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.00.
In related news, Director Ronald D. Brown sold 8,000 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $54.25, for a total transaction of $434,000.00. Following the completion of the transaction, the director now directly owns 43,896 shares in the company, valued at $2,381,358. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP James F. Stern sold 25,200 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $54.45, for a total value of $1,372,140.00. Following the transaction, the vice president now owns 176,583 shares of the company’s stock, valued at $9,614,944.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,400 shares of company stock valued at $5,734,444. 1.27% of the stock is owned by corporate 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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