Parkside Financial Bank & Trust lifted its stake in shares of A. O. Smith Corp (NYSE:AOS) by 105.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,010 shares of the industrial products company’s stock after purchasing an additional 1,032 shares during the quarter. Parkside Financial Bank & Trust’s holdings in A. O. Smith were worth $95,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Bremer Bank National Association acquired a new stake in A. O. Smith in the first quarter valued at $25,000. Penserra Capital Management LLC acquired a new stake in A. O. Smith in the first quarter valued at $29,000. Signaturefd LLC grew its holdings in A. O. Smith by 67.6% in the first quarter. Signaturefd LLC now owns 538 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 217 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in A. O. Smith by 1,560.0% in the first quarter. Quadrant Capital Group LLC now owns 1,162 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 1,092 shares during the last quarter. Finally, Cornerstone Advisors Inc. grew its holdings in A. O. Smith by 142.7% in the first quarter. Cornerstone Advisors Inc. now owns 1,238 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 728 shares during the last quarter. Institutional investors and hedge funds own 75.44% of the company’s stock.
Shares of AOS traded down $0.94 during trading hours on Friday, reaching $45.52. 106,884 shares of the company traded hands, compared to its average volume of 2,660,889. The company has a quick ratio of 1.74, a current ratio of 2.19 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $7.59 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.23 and a beta of 1.54. A. O. Smith Corp has a fifty-two week low of $40.34 and a fifty-two week high of $61.08. The stock has a fifty day simple moving average of $45.16 and a 200 day simple moving average of $48.74.
A. O. Smith (NYSE:AOS) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). The company had revenue of $765.40 million for the quarter, compared to analyst estimates of $812.29 million. A. O. Smith had a net margin of 13.71% and a return on equity of 24.31%. The firm’s revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 EPS. Research analysts predict that A. O. Smith Corp will post 2.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Tuesday, July 30th. A. O. Smith’s payout ratio is currently 33.72%.
A. O. Smith announced that its board has approved a share repurchase 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 buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
AOS has been the topic of several research reports. ValuEngine raised A. O. Smith from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Boenning Scattergood lowered A. O. Smith from an “outperform” rating to a “neutral” rating and set a $52.98 target price on the stock. in a report on Wednesday, May 1st. DA Davidson lowered their target price on A. O. Smith to $58.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Edward Jones lowered A. O. Smith from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Finally, Zacks Investment Research lowered A. O. Smith from a “hold” rating to a “sell” rating and set a $48.00 target price on the stock. in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $54.25.
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.
Featured Article: What is the Coverage Ratio?
Want to see what other hedge funds are holding AOS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for A. O. Smith Corp (NYSE:AOS).
Receive News & Ratings for A. O. Smith Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for A. O. Smith and related companies with MarketBeat.com's FREE daily email newsletter.