Alps Advisors Inc. reduced its position in A.O. Smith Corp. (NYSE:AOS) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,481 shares of the company’s stock after selling 348 shares during the period. Alps Advisors Inc.’s holdings in A.O. Smith Corp. were worth $483,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB bought a new stake in A.O. Smith Corp. during the second quarter valued at $150,000. Daiwa Securities Group Inc. bought a new stake in A.O. Smith Corp. during the second quarter valued at $150,000. Meeder Asset Management Inc. increased its stake in A.O. Smith Corp. by 1.0% in the first quarter. Meeder Asset Management Inc. now owns 2,548 shares of the company’s stock valued at $195,000 after buying an additional 25 shares in the last quarter. Moody Aldrich Partners LLC bought a new stake in A.O. Smith Corp. during the second quarter valued at $224,000. Finally, Cim LLC bought a new stake in A.O. Smith Corp. during the second quarter valued at $237,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.
A.O. Smith Corp. (NYSE:AOS) traded up 0.70% during trading on Tuesday, hitting $100.32. 881,900 shares of the company traded hands. A.O. Smith Corp. has a 52-week low of $60.30 and a 52-week high of $100.89. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 28.41 and a beta of 1.36. The company’s 50-day moving average is $95.48 and its 200 day moving average is $86.61. Shares of A.O. Smith Corp. are going to split before the market opens on Thursday, October 6th. The 2-1 split was announced on Wednesday, September 7th. The newly created shares will be issued to shareholders after the market closes on Wednesday, October 5th.
A.O. Smith Corp. (NYSE:AOS) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.08. The company had revenue of $667 million for the quarter, compared to analyst estimates of $696.69 million. A.O. Smith Corp. had a net margin of 12.23% and a return on equity of 21.57%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. On average, equities analysts anticipate that A.O. Smith Corp. will post $3.64 earnings per share for the current year.
Several analysts have weighed in on AOS shares. Zacks Investment Research raised shares of A.O. Smith Corp. from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Thursday, July 28th. Longbow Research started coverage on shares of A.O. Smith Corp. in a research report on Friday, June 17th. They set a “neutral” rating on the stock. Jefferies Group dropped their target price on shares of A.O. Smith Corp. from $111.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, September 23rd. SunTrust Banks Inc. dropped their target price on shares of A.O. Smith Corp. from $103.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. Finally, BMO Capital Markets set a $106.00 target price on shares of A.O. Smith Corp. and gave the stock a “buy” rating in a research report on Monday, August 8th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $89.57.
In other news, Director Mark D. Smith sold 1,146 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $93.76, for a total transaction of $107,448.96. Following the transaction, the director now directly owns 54,850 shares in the company, valued at $5,142,736. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Wilfridus M. Brouwer sold 6,200 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $93.29, for a total transaction of $578,398.00. Following the transaction, the insider now owns 19,449 shares in the company, valued at $1,814,397.21. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by company insiders.
About A.O. Smith Corp.
A. O. Smith Corporation operates its business through two segments, which include North America and Rest of World. The Company’s Rest of World segment primarily comprises China, Europe and India. The Rest of World segment supplies water heaters to the residential market in China with a range of product offering, including electric, gas, gas tankless, heat pump and solar units, as well as combi boilers.
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