A. O. Smith Corp (NYSE:AOS) – Equities researchers at DA Davidson cut their FY2020 EPS estimates for shares of A. O. Smith in a report released on Wednesday, July 31st. DA Davidson analyst M. Summerville now forecasts that the industrial products company will post earnings per share of $2.60 for the year, down from their previous estimate of $2.85. DA Davidson has a “Buy” rating and a $58.00 price target on the stock.
Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of A. O. Smith from a “hold” rating to a “sell” rating and set a $48.00 price objective on the stock. in a research report on Wednesday, June 26th. Edward Jones downgraded shares of A. O. Smith from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Robert W. Baird boosted their price target on shares of A. O. Smith from $56.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. ValuEngine downgraded shares of A. O. Smith from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Finally, Boenning Scattergood downgraded shares of A. O. Smith from an “outperform” rating to a “neutral” rating and set a $52.98 price target on the stock. in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. A. O. Smith currently has an average rating of “Hold” and a consensus target price of $54.25.
A. O. Smith (NYSE:AOS) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.03). The firm had revenue of $765.40 million during the quarter, compared to the consensus estimate of $812.29 million. A. O. Smith had a net margin of 13.71% and a return on equity of 24.31%. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mawer Investment Management Ltd. purchased a new position in A. O. Smith during the second quarter valued at approximately $32,982,000. ACG Wealth grew its position in A. O. Smith by 4.5% during the second quarter. ACG Wealth now owns 78,876 shares of the industrial products company’s stock valued at $3,720,000 after purchasing an additional 3,361 shares in the last quarter. Parkside Financial Bank & Trust grew its position in A. O. Smith by 105.5% during the second quarter. Parkside Financial Bank & Trust now owns 2,010 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 1,032 shares in the last quarter. Great Lakes Advisors LLC grew its position in A. O. Smith by 1.7% during the second quarter. Great Lakes Advisors LLC now owns 321,377 shares of the industrial products company’s stock valued at $15,156,000 after purchasing an additional 5,375 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in A. O. Smith during the second quarter valued at approximately $2,677,000. Institutional investors and hedge funds own 75.55% of the company’s stock.
In other A. O. Smith news, Director Paul W. Jones sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $49.50, for a total transaction of $49,500.00. Following the sale, the director now directly owns 182,266 shares in the company, valued at approximately $9,022,167. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.03% of the stock is currently owned by insiders.
A. O. Smith declared that its Board of Directors has approved a share buyback plan on Monday, June 3rd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, July 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.96%. A. O. Smith’s dividend payout ratio (DPR) is 33.72%.
About A. O. Smith
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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