Smith Asset Management Group LP decreased its stake in shares of Smith (A.O.) Corporation (NYSE:AOS) by 14.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 198,602 shares of the industrial products company’s stock after selling 33,020 shares during the period. Smith Asset Management Group LP owned approximately 0.11% of Smith (A.O.) Corporation worth $11,187,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in AOS. Vanguard Group Inc. boosted its position in Smith (A.O.) Corporation by 2.7% in the first quarter. Vanguard Group Inc. now owns 13,458,672 shares of the industrial products company’s stock valued at $688,546,000 after buying an additional 352,139 shares during the last quarter. BlackRock Inc. boosted its position in shares of Smith (A.O.) Corporation by 4,592.7% in the first quarter. BlackRock Inc. now owns 13,065,205 shares of the industrial products company’s stock worth $668,415,000 after buying an additional 12,786,787 shares in the last quarter. Janus Capital Management LLC boosted its position in shares of Smith (A.O.) Corporation by 18.5% in the first quarter. Janus Capital Management LLC now owns 8,349,956 shares of the industrial products company’s stock worth $427,184,000 after buying an additional 1,306,490 shares in the last quarter. State Street Corp boosted its position in shares of Smith (A.O.) Corporation by 12.5% in the first quarter. State Street Corp now owns 7,049,020 shares of the industrial products company’s stock worth $360,634,000 after buying an additional 781,403 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Smith (A.O.) Corporation by 38.1% in the first quarter. Alliancebernstein L.P. now owns 3,679,499 shares of the industrial products company’s stock worth $188,243,000 after buying an additional 1,014,464 shares in the last quarter. 74.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Smith (NYSE:AOS) opened at 53.68 on Friday. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 27.25 and a beta of 1.51. Smith has a 52 week low of $43.66 and a 52 week high of $57.97. The firm has a 50-day moving average price of $55.75 and a 200-day moving average price of $53.01.

Smith (A.O.) Corporation (NYSE:AOS) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. Smith (A.O.) Corporation had a net margin of 12.10% and a return on equity of 22.25%. The firm had revenue of $738.20 million during the quarter, compared to the consensus estimate of $729.33 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that Smith will post $2.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.56 annualized dividend and a dividend yield of 1.04%. Smith (A.O.) Corporation’s dividend payout ratio (DPR) is 28.43%.

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A number of brokerages recently commented on AOS. Zacks Investment Research cut Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. BidaskClub cut Smith (A.O.) Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 target price on shares of Smith (A.O.) Corporation in a report on Friday, July 28th. Jefferies Group LLC set a $60.00 target price on Smith (A.O.) Corporation and gave the stock a “buy” rating in a report on Thursday, June 1st. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Smith (A.O.) Corporation in a report on Wednesday, July 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $68.00.

In other news, Director Ronald D. Brown sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $54.25, for a total value of $434,000.00. Following the transaction, the director now directly owns 43,896 shares in the company, valued at approximately $2,381,358. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John J. Kita sold 12,200 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $56.32, for a total transaction of $687,104.00. Following the completion of the transaction, the insider now owns 85,067 shares in the company, valued at $4,790,973.44. The disclosure for this sale can be found here. In the last three months, insiders sold 105,400 shares of company stock valued at $5,734,444. Corporate insiders own 1.27% of the company’s stock.

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.

Institutional Ownership by Quarter for Smith (A.O.) Corporation (NYSE:AOS)

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