Prudential Financial Inc. cut its stake in shares of A.O. Smith Corp. (NYSE:AOS) by 64.7% during the second quarter, Holdings Channel reports. The fund owned 54,018 shares of the company’s stock after selling 99,200 shares during the period. Prudential Financial Inc. owned approximately 0.06% of A.O. Smith Corp. worth $4,760,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nordea Investment Management AB purchased a new position in shares of A.O. Smith Corp. during the second quarter valued at $150,000. Daiwa Securities Group Inc. purchased a new position in shares of A.O. Smith Corp. during the second quarter valued at $150,000. Mn Services Vermogensbeheer B.V. purchased a new position in shares of A.O. Smith Corp. during the second quarter valued at $150,000. Meeder Asset Management Inc. increased its position in shares of 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 during the last quarter. Finally, Timber Hill LLC purchased a new position in shares of A.O. Smith Corp. during the second quarter valued at $201,000. 76.34% of the stock is owned by hedge funds and other institutional investors.
A.O. Smith Corp. (NYSE:AOS) opened at 48.93 on Friday. The stock has a market cap of $8.54 billion, a PE ratio of 27.71 and a beta of 1.36. The firm has a 50-day moving average price of $48.36 and a 200-day moving average price of $43.89. A.O. Smith Corp. has a 12-month low of $30.15 and a 12-month high of $51.49.
A.O. Smith Corp. (NYSE:AOS) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.08. The firm earned $667 million during the quarter, compared to the consensus estimate of $696.69 million. A.O. Smith Corp. had a return on equity of 21.57% and a net margin of 12.23%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 EPS. Analysts forecast that A.O. Smith Corp. will post $3.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, October 27th. A.O. Smith Corp.’s dividend payout ratio is currently 27.20%.
Several research analysts recently weighed in on the stock. KeyCorp reissued a “buy” rating and issued a $107.00 target price on shares of A.O. Smith Corp. in a research note on Thursday, October 6th. Zacks Investment Research upgraded A.O. Smith Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 15th. BMO Capital Markets set a $53.00 price target on A.O. Smith Corp. and gave the company a “buy” rating in a report on Monday, August 8th. SunTrust Banks Inc. lowered their price target on A.O. Smith Corp. from $51.50 to $45.00 and set a “buy” rating for the company in a report on Thursday, July 14th. Finally, Longbow Research began coverage on A.O. Smith Corp. in a report on Friday, June 17th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $53.79.
In other news, insider Wilfridus M. Brouwer sold 6,200 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $93.29, for a total transaction of $578,398.00. Following the completion of the sale, the insider now directly owns 19,449 shares of the company’s stock, valued at approximately $1,814,397.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark D. Smith sold 1,146 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $93.76, for a total value of $107,448.96. Following the sale, the director now directly owns 54,850 shares of the company’s stock, valued at $5,142,736. The disclosure for this sale can be found here. 1.76% of the stock is owned by corporate insiders.
A.O. Smith Corp. Company Profile
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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