BlackRock Advisors LLC increased its stake in shares of A.O. Smith Corp. (NYSE:AOS) by 121.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,921 shares of the company’s stock after buying an additional 56,923 shares during the period. BlackRock Advisors LLC owned about 0.12% of A.O. Smith Corp. worth $9,156,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB bought a new position in A.O. Smith Corp. during the second quarter valued at $150,000. Daiwa Securities Group Inc. bought a new position in A.O. Smith Corp. during the second quarter valued at $150,000. Mn Services Vermogensbeheer B.V. bought a new position in A.O. Smith Corp. during the second quarter valued at $150,000. Meeder Asset Management Inc. increased its position 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. Finally, Timber Hill LLC bought a new position in A.O. Smith Corp. during the second quarter valued at $201,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of A.O. Smith Corp. (NYSE:AOS) opened at 49.97 on Monday. The firm has a 50 day moving average price of $48.08 and a 200 day moving average price of $43.50. The stock has a market capitalization of $8.72 billion, a PE ratio of 28.30 and a beta of 1.36. A.O. Smith Corp. has a one year low of $30.15 and a one year high of $51.49.
A.O. Smith Corp. (NYSE:AOS) last released its earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.08. The firm earned $667 million during the quarter, compared to analyst estimates of $696.69 million. A.O. Smith Corp. had a return on equity of 21.57% and a net margin of 12.23%. A.O. Smith Corp.’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.79 earnings per share. Analysts predict that A.O. Smith Corp. will post $3.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 31st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. A.O. Smith Corp.’s dividend payout ratio (DPR) is presently 27.20%.
Several research firms have recently weighed in on AOS. KeyCorp reissued a “buy” rating and set a $107.00 target price on shares of A.O. Smith Corp. in a research report on Thursday. Zacks Investment Research raised A.O. Smith Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 15th. BMO Capital Markets set a $53.00 price objective on A.O. Smith Corp. and gave the company a “buy” rating in a report on Monday, August 8th. SunTrust Banks Inc. dropped their price objective 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 assumed coverage on A.O. Smith Corp. in a report on Friday, June 17th. They set 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 company. The stock presently has an average rating of “Buy” and a consensus target price of $53.79.
In other A.O. Smith Corp. news, insider Wilfridus M. Brouwer sold 6,200 shares of A.O. Smith Corp. 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark D. Smith sold 1,146 shares of A.O. Smith Corp. 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.