Mawer Investment Management Ltd. bought a new position in shares of A. O. Smith Corp (NYSE:AOS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 699,355 shares of the industrial products company’s stock, valued at approximately $32,982,000. Mawer Investment Management Ltd. owned about 0.42% of A. O. Smith as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bremer Bank National Association bought a new stake in A. O. Smith in the first quarter valued at about $25,000. Signaturefd LLC increased its holdings in A. O. Smith by 67.6% in the first quarter. Signaturefd LLC now owns 538 shares of the industrial products company’s stock valued at $29,000 after buying an additional 217 shares during the last quarter. Penserra Capital Management LLC bought a new stake in A. O. Smith in the first quarter valued at about $29,000. Quadrant Capital Group LLC increased its holdings in A. O. Smith by 1,560.0% in the first quarter. Quadrant Capital Group LLC now owns 1,162 shares of the industrial products company’s stock valued at $58,000 after buying an additional 1,092 shares during the last quarter. Finally, Cornerstone Advisors Inc. increased its holdings in A. O. Smith by 142.7% in the first quarter. Cornerstone Advisors Inc. now owns 1,238 shares of the industrial products company’s stock valued at $66,000 after buying an additional 728 shares during the last quarter. 75.44% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on AOS. Jefferies Financial Group began coverage on A. O. Smith in a report on Wednesday, July 10th. They issued a “hold” rating for the company. Edward Jones lowered A. O. Smith from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Zacks Investment Research lowered A. O. Smith from a “hold” rating to a “sell” rating and set a $48.00 price objective for the company. in a report on Wednesday, June 26th. TheStreet lowered A. O. Smith from a “b-” rating to a “c+” rating in a report on Monday, August 5th. Finally, Boenning Scattergood lowered A. O. Smith from an “outperform” rating to a “neutral” rating and set a $52.98 price objective for the company. in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $54.25.
A. O. Smith (NYSE:AOS) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.03). The company had revenue of $765.40 million for the quarter, compared to the consensus estimate of $812.29 million. A. O. Smith had a net margin of 13.71% and a return on equity of 24.31%. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. On average, analysts forecast that A. O. Smith Corp will post 2.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Tuesday, July 30th. A. O. Smith’s dividend payout ratio (DPR) is presently 33.72%.
A. O. Smith declared that its board has approved a stock buyback plan on Monday, June 3rd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
A. O. Smith Company Profile
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtration products for residences, restaurants, hotels, and offices.
Featured Article: Why is momentum important to successful trading?
Want to see what other hedge funds are holding AOS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for A. O. Smith Corp (NYSE:AOS).
Receive News & Ratings for A. O. Smith Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for A. O. Smith and related companies with MarketBeat.com's FREE daily email newsletter.