Ropes Wealth Advisors LLC acquired a new position in shares of A. O. Smith Corp (NYSE:AOS) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 775 shares of the industrial products company’s stock, valued at approximately $37,000.
Several other hedge funds also recently made changes to their positions in the company. Dupont Capital Management Corp increased its position in A. O. Smith by 13.4% during the 2nd quarter. Dupont Capital Management Corp now owns 473,388 shares of the industrial products company’s stock worth $22,325,000 after purchasing an additional 56,085 shares in the last quarter. DNB Asset Management AS increased its position in A. O. Smith by 3.6% during the 2nd quarter. DNB Asset Management AS now owns 28,768 shares of the industrial products company’s stock worth $1,357,000 after purchasing an additional 995 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in A. O. Smith during the 3rd quarter worth approximately $13,956,000. Great Lakes Advisors LLC increased its position in A. O. Smith by 1.7% during the 2nd quarter. Great Lakes Advisors LLC now owns 321,377 shares of the industrial products company’s stock worth $15,156,000 after purchasing an additional 5,375 shares in the last quarter. Finally, Boston Financial Mangement LLC increased its position in A. O. Smith by 5.5% during the 2nd quarter. Boston Financial Mangement LLC now owns 277,140 shares of the industrial products company’s stock worth $13,070,000 after purchasing an additional 14,370 shares in the last quarter. Institutional investors and hedge funds own 75.52% of the company’s stock.
AOS has been the subject of a number of research analyst reports. Rosenblatt Securities initiated coverage on shares of A. O. Smith in a research report on Thursday, November 7th. They set a “neutral” rating and a $52.00 target price for the company. Northcoast Research reissued a “buy” rating on shares of A. O. Smith in a research report on Wednesday, October 2nd. TheStreet raised shares of A. O. Smith from a “c+” rating to a “b-” rating in a research report on Tuesday, September 10th. Finally, ValuEngine raised shares of A. O. Smith from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. A. O. Smith presently has an average rating of “Hold” and an average price target of $54.50.
A. O. Smith (NYSE:AOS) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. A. O. Smith had a net margin of 13.26% and a return on equity of 23.66%. The company had revenue of $728.20 million during the quarter, compared to the consensus estimate of $752.61 million. During the same quarter last year, the company earned $0.61 earnings per share. A. O. Smith’s revenue for the quarter was down 3.4% on a year-over-year basis. Research analysts expect that A. O. Smith Corp will post 2.26 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.24 dividend. This is an increase from A. O. Smith’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, October 30th. This represents a $0.96 annualized dividend and a yield of 1.85%. A. O. Smith’s dividend payout ratio (DPR) is 36.78%.
In other A. O. Smith news, VP Helen E. Gurholt sold 1,263 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $45.82, for a total value of $57,870.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ajita G. Rajendra sold 16,556 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $49.47, for a total transaction of $819,025.32. Following the completion of the sale, the chairman now directly owns 78,163 shares of the company’s stock, valued at approximately $3,866,723.61. The disclosure for this sale can be found here. Insiders sold 22,639 shares of company stock valued at $1,127,247 in the last ninety days. 1.03% of the stock is owned by corporate insiders.
A. O. Smith 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.
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