Chevy Chase Trust Holdings Inc. lessened its position in A. O. Smith Corp (NYSE:AOS) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,962 shares of the industrial products company’s stock after selling 2,246 shares during the quarter. Chevy Chase Trust Holdings Inc. owned about 0.07% of A. O. Smith worth $5,389,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in A. O. Smith by 270.2% during the third quarter. Parallel Advisors LLC now owns 522 shares of the industrial products company’s stock worth $25,000 after buying an additional 381 shares in the last quarter. Ropes Wealth Advisors LLC purchased a new position in A. O. Smith during the third quarter worth approximately $37,000. CSat Investment Advisory L.P. lifted its position in A. O. Smith by 67.3% during the second quarter. CSat Investment Advisory L.P. now owns 1,318 shares of the industrial products company’s stock worth $63,000 after buying an additional 530 shares in the last quarter. Quadrant Capital Group LLC lifted its position in A. O. Smith by 185.2% during the third quarter. Quadrant Capital Group LLC now owns 1,537 shares of the industrial products company’s stock worth $71,000 after buying an additional 998 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted 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 worth $95,000 after buying an additional 1,032 shares in the last quarter. Institutional investors and hedge funds own 79.37% of the company’s stock.
In other news, Director Mark D. Smith sold 4,820 shares of A. O. Smith stock in a transaction on Friday, November 8th. The stock was sold at an average price of $51.94, for a total value of $250,350.80. Following the completion of the sale, the director now directly owns 109,113 shares of the company’s stock, valued at $5,667,329.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ajita G. Rajendra sold 16,556 shares of A. O. Smith stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $49.47, for a total value of $819,025.32. Following the completion of the sale, the chairman now directly owns 78,163 shares of the company’s stock, valued at $3,866,723.61. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.
A. O. Smith (NYSE:AOS) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $0.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.53. A. O. Smith had a return on equity of 23.66% and a net margin of 13.26%. The company had revenue of $728.20 million for the quarter, compared to the consensus estimate of $752.61 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Sell-side analysts anticipate that A. O. Smith Corp will post 2.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.24 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $0.96 dividend on an annualized basis and a yield of 2.03%. This is an increase from A. O. Smith’s previous quarterly dividend of $0.22. A. O. Smith’s payout ratio is currently 36.78%.
A number of equities analysts recently commented on AOS shares. ValuEngine upgraded A. O. Smith from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Northcoast Research reiterated a “buy” rating on shares of A. O. Smith in a research report on Wednesday, October 2nd. TheStreet upgraded A. O. Smith from a “c+” rating to a “b-” rating in a research report on Tuesday, September 10th. Finally, Rosenblatt Securities started coverage on A. O. Smith in a research report on Thursday, November 7th. They set a “neutral” rating and a $52.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $55.14.
A. O. Smith Company Profile
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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