Alliancebernstein L.P. Grows Stake in A. O. Smith Corp (AOS)
Alliancebernstein L.P. raised its position in A. O. Smith Corp (NYSE:AOS) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,074,225 shares of the industrial products company’s stock after purchasing an additional 547,648 shares during the quarter. Alliancebernstein L.P.’s holdings in A. O. Smith were worth $249,669,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in AOS. Tower Research Capital LLC TRC raised its holdings in shares of A. O. Smith by 70.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,784 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 1,150 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in shares of A. O. Smith in the 4th quarter worth about $210,000. Annex Advisory Services LLC purchased a new position in shares of A. O. Smith in the 3rd quarter worth about $214,000. Brookmont Capital Management purchased a new position in shares of A. O. Smith in the 4th quarter worth about $224,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of A. O. Smith in the 3rd quarter worth about $245,000. Institutional investors own 74.18% of the company’s stock.
In other news, Director William P. Greubel sold 17,856 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $66.50, for a total value of $1,187,424.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ajita G. Rajendra sold 5,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $66.55, for a total value of $332,750.00. Following the completion of the sale, the chairman now owns 301,018 shares of the company’s stock, valued at approximately $20,032,747.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,328 shares of company stock valued at $5,910,610. Insiders own 1.27% of the company’s stock.
A. O. Smith (NYSE:AOS) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. A. O. Smith had a return on equity of 23.30% and a net margin of 9.89%. The business had revenue of $768.60 million during the quarter, compared to analyst estimates of $767.45 million. During the same quarter last year, the firm earned $0.47 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. analysts expect that A. O. Smith Corp will post 2.57 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were paid a $0.18 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.14. A. O. Smith’s dividend payout ratio (DPR) is 42.35%.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded A. O. Smith from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Robert W. Baird restated a “buy” rating and issued a $70.00 price objective on shares of A. O. Smith in a report on Wednesday, January 31st. Stifel Nicolaus restated a “hold” rating and issued a $59.00 price objective on shares of A. O. Smith in a report on Monday, December 11th. BMO Capital Markets reiterated a “buy” rating and issued a $78.00 target price on shares of A. O. Smith in a research note on Friday, January 26th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of A. O. Smith in a research note on Tuesday, January 30th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. A. O. Smith has a consensus rating of “Hold” and a consensus target price of $67.83.
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About A. O. Smith
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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