Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Smith (A.O.) Corporation (NYSE:AOS) by 17.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,458 shares of the industrial products company’s stock after purchasing an additional 3,258 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Smith (A.O.) Corporation were worth $1,335,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AOS. Janus Henderson Group PLC raised its holdings in Smith (A.O.) Corporation by 49,147.8% in the 2nd quarter. Janus Henderson Group PLC now owns 7,631,439 shares of the industrial products company’s stock worth $429,879,000 after purchasing an additional 7,615,943 shares during the period. Lord Abbett & CO. LLC raised its holdings in Smith (A.O.) Corporation by 289.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 550,241 shares of the industrial products company’s stock worth $30,995,000 after purchasing an additional 409,093 shares during the period. Koch Industries Inc. bought a new position in Smith (A.O.) Corporation in the 2nd quarter worth $383,000. State of Tennessee Treasury Department raised its holdings in Smith (A.O.) Corporation by 143.9% in the 2nd quarter. State of Tennessee Treasury Department now owns 536,200 shares of the industrial products company’s stock worth $30,204,000 after purchasing an additional 316,400 shares during the period. Finally, First Trust Advisors LP raised its holdings in Smith (A.O.) Corporation by 162.1% in the 2nd quarter. First Trust Advisors LP now owns 440,079 shares of the industrial products company’s stock worth $24,790,000 after purchasing an additional 272,194 shares during the period. 72.50% of the stock is currently owned by institutional investors.

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Shares of Smith (NYSE:AOS) opened at $58.92 on Tuesday. Smith has a 12 month low of $46.44 and a 12 month high of $62.16. The company has a quick ratio of 1.92, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $10,068.10, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 2.20 and a beta of 1.54.

Smith (A.O.) Corporation (NYSE:AOS) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.01. Smith (A.O.) Corporation had a return on equity of 22.42% and a net margin of 12.18%. The business had revenue of $749.90 million during the quarter, compared to analyst estimates of $741.28 million. During the same quarter in the prior year, the business posted $0.47 EPS. Smith (A.O.) Corporation’s revenue for the quarter was up 9.7% compared to the same quarter last year. equities analysts expect that Smith will post 2.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be paid a $0.14 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.56 dividend on an annualized basis and a yield of 0.95%. Smith (A.O.) Corporation’s payout ratio is presently 27.45%.

In other news, Director Idelle K. Wolf sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director now owns 52,053 shares in the company, valued at $3,123,180. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Charles T. Lauber sold 7,594 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $59.85, for a total value of $454,500.90. Following the transaction, the senior vice president now owns 26,240 shares of the company’s stock, valued at approximately $1,570,464. The disclosure for this sale can be found here. Insiders sold a total of 31,861 shares of company stock valued at $1,895,602 in the last quarter. 1.27% of the stock is currently owned by company insiders.

A number of equities analysts recently commented on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $56.00 target price on shares of Smith (A.O.) Corporation in a report on Friday, August 11th. Boenning Scattergood reaffirmed a “buy” rating on shares of Smith (A.O.) Corporation in a report on Wednesday, July 26th. Zacks Investment Research cut Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Robert W. Baird set a $61.00 price target on Smith (A.O.) Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $60.00 price target on shares of Smith (A.O.) Corporation in a research note on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $62.80.

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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