Riverhead Capital Management LLC boosted its position in A. O. Smith Corp (NYSE:AOS) by 7.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,431 shares of the industrial products company’s stock after purchasing an additional 6,477 shares during the quarter. Riverhead Capital Management LLC’s holdings in A. O. Smith were worth $4,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bremer Bank National Association purchased a new stake in shares of A. O. Smith during the first quarter valued at approximately $25,000. Huntington National Bank increased its holdings in shares of A. O. Smith by 82.2% in the 1st quarter. Huntington National Bank now owns 512 shares of the industrial products company’s stock worth $27,000 after buying an additional 231 shares during the last quarter. Signaturefd LLC increased its holdings in shares of A. O. Smith by 67.6% in the 1st quarter. Signaturefd LLC now owns 538 shares of the industrial products company’s stock worth $29,000 after buying an additional 217 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of A. O. Smith during the 1st quarter worth about $29,000. Finally, Bremer Trust National Association purchased a new position in shares of A. O. Smith during the 4th quarter worth about $26,000. Institutional investors and hedge funds own 75.13% of the company’s stock.
Shares of NYSE AOS traded up $0.05 during mid-day trading on Friday, reaching $45.35. The company’s stock had a trading volume of 9,317 shares, compared to its average volume of 3,086,416. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50. The company has a quick ratio of 1.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.18. A. O. Smith Corp has a 1-year low of $40.34 and a 1-year high of $64.64.
A. O. Smith (NYSE:AOS) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.04). A. O. Smith had a return on equity of 25.01% and a net margin of 13.81%. The firm had revenue of $748.20 million for the quarter, compared to analyst estimates of $764.16 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. A. O. Smith’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities research analysts expect that A. O. Smith Corp will post 2.69 EPS for the current year.
A. O. Smith declared that its board has approved a stock buyback plan on Monday, June 3rd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.94%. The ex-dividend date was Monday, April 29th. A. O. Smith’s payout ratio is currently 33.72%.
In other news, Director Ronald D. Brown sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $52.45, for a total value of $419,600.00. Following the completion of the transaction, the director now owns 35,896 shares of the company’s stock, valued at $1,882,745.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Paul R. Dana sold 9,010 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $52.76, for a total transaction of $475,367.60. Following the completion of the transaction, the vice president now directly owns 14,912 shares of the company’s stock, valued at approximately $786,757.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,010 shares of company stock valued at $944,468. 1.03% of the stock is owned by company insiders.
AOS has been the subject of several recent analyst reports. Robert W. Baird boosted their price objective on shares of A. O. Smith from $56.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Zacks Investment Research raised shares of A. O. Smith from a “sell” rating to a “hold” rating and set a $46.00 price objective on the stock in a report on Thursday, May 23rd. Boenning Scattergood downgraded shares of A. O. Smith from an “outperform” rating to a “neutral” rating and set a $52.98 price target on the stock. in a report on Wednesday, May 1st. DA Davidson decreased their price objective on shares of A. O. Smith to $58.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Finally, ValuEngine downgraded shares of A. O. Smith from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. A. O. Smith presently has a consensus rating of “Hold” and an average target price of $55.55.
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A. O. Smith 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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