Oregon Public Employees Retirement Fund boosted its position in A.O. Smith Corp. (NYSE:AOS) by 37.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,898 shares of the company’s stock after buying an additional 9,556 shares during the period. Oregon Public Employees Retirement Fund’s holdings in A.O. Smith Corp. were worth $3,448,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of A.O. Smith Corp. during the second quarter valued at about $106,000. Nordea Investment Management AB bought a new stake in shares of A.O. Smith Corp. during the second quarter valued at about $150,000. Daiwa Securities Group Inc. bought a new stake in shares of A.O. Smith Corp. during the second quarter valued at about $150,000. Mn Services Vermogensbeheer B.V. bought a new stake in shares of A.O. Smith Corp. during the second quarter valued at about $150,000. Finally, Timber Hill LLC bought a new stake in shares of A.O. Smith Corp. during the second quarter valued at about $201,000. 37.60% of the stock is currently owned by institutional investors.
Shares of A.O. Smith Corp. (NYSE:AOS) traded down 1.00% during trading on Monday, hitting $48.71. The stock had a trading volume of 1,270,197 shares. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 26.60 and a beta of 1.40. The stock’s 50 day moving average is $47.39 and its 200 day moving average is $45.74. A.O. Smith Corp. has a 52 week low of $30.15 and a 52 week high of $51.49.
A.O. Smith Corp. (NYSE:AOS) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. A.O. Smith Corp. had a return on equity of 21.84% and a net margin of 12.32%. The firm had revenue of $683.90 million for the quarter, compared to analyst estimates of $577.20 million. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that A.O. Smith Corp. will post $1.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 31st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, October 27th. This represents a $0.48 annualized dividend and a yield of 0.98%. A.O. Smith Corp.’s dividend payout ratio is 26.30%.
Several analysts recently issued reports on the company. Zacks Investment Research raised A.O. Smith Corp. from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Monday. KeyCorp reissued a “buy” rating and issued a $107.00 price target on shares of A.O. Smith Corp. in a report on Thursday, October 6th. BMO Capital Markets set a $53.00 price target on A.O. Smith Corp. and gave the stock a “buy” rating in a report on Monday, August 8th. Finally, Jefferies Group cut their price target on A.O. Smith Corp. from $55.50 to $43.00 and set a “buy” rating on the stock in a report on Friday, September 23rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $54.14.
In other news, VP James F. Stern sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $47.69, for a total value of $953,800.00. Following the sale, the vice president now directly owns 85,267 shares in the company, valued at approximately $4,066,383.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Charles T. Lauber sold 2,473 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $48.12, for a total value of $119,000.76. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.
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.