Advisor Group Inc. Increases Stake in Smith (A.O.) Corporation (AOS)

Advisor Group Inc. grew its holdings in Smith (A.O.) Corporation (NYSE:AOS) by 23.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,744 shares of the industrial products company’s stock after buying an additional 1,093 shares during the quarter. Advisor Group Inc.’s holdings in Smith (A.O.) Corporation were worth $308,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Harfst & Associates Inc. increased its stake in shares of Smith (A.O.) Corporation by 63.7% in the second quarter. Harfst & Associates Inc. now owns 6,280 shares of the industrial products company’s stock valued at $353,000 after buying an additional 2,443 shares in the last quarter. M&T Bank Corp increased its stake in shares of Smith (A.O.) Corporation by 6.5% in the second quarter. M&T Bank Corp now owns 8,697 shares of the industrial products company’s stock valued at $491,000 after buying an additional 534 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Smith (A.O.) Corporation by 2.6% in the second quarter. California Public Employees Retirement System now owns 449,700 shares of the industrial products company’s stock valued at $25,332,000 after buying an additional 11,300 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Smith (A.O.) Corporation by 9.4% in the second quarter. MML Investors Services LLC now owns 8,461 shares of the industrial products company’s stock valued at $477,000 after buying an additional 730 shares in the last quarter. Finally, ETRADE Capital Management LLC acquired a new stake in shares of Smith (A.O.) Corporation in the second quarter valued at $264,000. Institutional investors own 74.00% of the company’s stock.

Smith (NYSE:AOS) opened at 61.45 on Friday. The firm’s 50-day moving average price is $58.07 and its 200-day moving average price is $55.26. Smith has a one year low of $43.66 and a one year high of $61.62. The company has a market cap of $10.60 billion, a PE ratio of 31.19 and a beta of 1.50.

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

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.91%. Smith (A.O.) Corporation’s payout ratio is 28.43%.

A number of brokerages have recently weighed in on AOS. SunTrust Banks, Inc. restated a “buy” rating and issued a $65.00 target price on shares of Smith (A.O.) Corporation in a research note on Thursday. Stifel Nicolaus reiterated a “hold” rating and issued a $59.00 price objective on shares of Smith (A.O.) Corporation in a research report on Thursday. Boenning Scattergood reiterated a “buy” rating on shares of Smith (A.O.) Corporation in a research report on Wednesday, July 26th. Robert W. Baird set a $61.00 price objective on Smith (A.O.) Corporation and gave the stock a “buy” rating in a research report on Thursday, August 24th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $60.00 price objective on shares of Smith (A.O.) Corporation in a research report on Friday, July 28th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $61.60.

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In other news, Director Paul W. Jones sold 60,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $54.02, for a total value of $3,241,200.00. Following the completion of the sale, the director now owns 277,465 shares of the company’s stock, valued at $14,988,659.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.27% of the company’s stock.

About Smith (A.O.) Corporation

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.

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

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