Parametric Portfolio Associates LLC boosted its stake in A. O. Smith Corp (NYSE:AOS) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 616,927 shares of the industrial products company’s stock after acquiring an additional 63,709 shares during the period. Parametric Portfolio Associates LLC owned 0.38% of A. O. Smith worth $29,434,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of AOS. Parallel Advisors LLC increased its position in shares of A. O. Smith by 270.2% in the 3rd quarter. Parallel Advisors LLC now owns 522 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 381 shares during the last quarter. Ropes Wealth Advisors LLC bought a new position in shares of A. O. Smith during the third quarter worth about $37,000. CSat Investment Advisory L.P. grew its stake in A. O. Smith by 67.3% in the second quarter. CSat Investment Advisory L.P. now owns 1,318 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 530 shares in the last quarter. Quadrant Capital Group LLC grew its stake in A. O. Smith by 185.2% in the third quarter. Quadrant Capital Group LLC now owns 1,537 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 998 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in A. O. Smith by 105.5% in the second quarter. Parkside Financial Bank & Trust now owns 2,010 shares of the industrial products company’s stock valued at $95,000 after buying an additional 1,032 shares during the last quarter. 79.37% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Rosenblatt Securities initiated coverage on A. O. Smith in a research note on Thursday, November 7th. They set a “neutral” rating and a $52.00 price objective on the stock. Northcoast Research reiterated a “buy” rating on shares of A. O. Smith in a report on Wednesday, October 2nd. ValuEngine raised A. O. Smith from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, TheStreet raised shares of A. O. Smith from a “c+” rating to a “b-” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. A. O. Smith currently has a consensus rating of “Hold” and an average price target of $55.14.
A. O. Smith (NYSE:AOS) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.53 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. A. O. Smith had a net margin of 13.26% and a return on equity of 23.66%. The firm had revenue of $728.20 million for the quarter, compared to analysts’ expectations of $752.61 million. During the same quarter last year, the company posted $0.61 EPS. The business’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, research analysts anticipate that A. O. Smith Corp will post 2.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, October 30th. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.06%. A. O. Smith’s dividend payout ratio is 36.78%.
In other A. O. Smith news, Director Mark D. Smith sold 4,820 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $51.94, for a total transaction of $250,350.80. Following the transaction, the director now directly owns 109,113 shares in the company, valued at $5,667,329.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ajita G. Rajendra sold 16,556 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $49.47, for a total transaction of $819,025.32. Following the transaction, the chairman now owns 78,163 shares in the company, valued at $3,866,723.61. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.
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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