Meeder Asset Management Inc. decreased its holdings in shares of A. O. Smith Corp (NYSE:AOS) by 22.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,621 shares of the industrial products company’s stock after selling 2,845 shares during the period. Meeder Asset Management Inc.’s holdings in A. O. Smith were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. BlackRock Inc. grew its holdings in A. O. Smith by 1.1% during the second quarter. BlackRock Inc. now owns 10,212,252 shares of the industrial products company’s stock valued at $604,055,000 after purchasing an additional 112,242 shares during the last quarter. Janus Henderson Group PLC increased its position in A. O. Smith by 0.5% in the second quarter. Janus Henderson Group PLC now owns 7,008,473 shares of the industrial products company’s stock worth $414,554,000 after purchasing an additional 36,879 shares during the period. Morgan Stanley increased its position in A. O. Smith by 531.8% in the second quarter. Morgan Stanley now owns 3,478,281 shares of the industrial products company’s stock worth $205,741,000 after purchasing an additional 2,927,749 shares during the period. Wells Fargo & Company MN grew its position in shares of A. O. Smith by 0.6% during the 3rd quarter. Wells Fargo & Company MN now owns 1,900,739 shares of the industrial products company’s stock worth $101,442,000 after buying an additional 11,544 shares during the period. Finally, Waddell & Reed Financial Inc. grew its position in shares of A. O. Smith by 12.7% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,662,424 shares of the industrial products company’s stock worth $98,333,000 after buying an additional 187,800 shares during the period. Institutional investors own 77.02% of the company’s stock.
AOS has been the topic of a number of analyst reports. Zacks Investment Research upgraded A. O. Smith from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Stephens initiated coverage on A. O. Smith in a research report on Monday, November 19th. They issued an “equal weight” rating and a $50.00 target price for the company. Robert W. Baird decreased their target price on A. O. Smith from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, October 10th. BMO Capital Markets cut their target price on A. O. Smith from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 31st. Finally, Oppenheimer restated a “hold” rating on shares of A. O. Smith in a research note on Tuesday, September 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $64.00.
A. O. Smith (NYSE:AOS) last released its earnings results on Tuesday, October 30th. The industrial products company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.02). A. O. Smith had a net margin of 10.83% and a return on equity of 24.98%. The company had revenue of $754.10 million during the quarter, compared to the consensus estimate of $805.92 million. During the same period last year, the firm posted $0.54 EPS. The company’s revenue was up .6% on a year-over-year basis. As a group, equities research analysts forecast that A. O. Smith Corp will post 2.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Tuesday, October 30th. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.18. A. O. Smith’s payout ratio is 40.55%.
In other news, Director Paul W. Jones sold 9,000 shares of the business’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $45.99, for a total value of $413,910.00. Following the completion of the sale, the director now owns 200,967 shares of the company’s stock, valued at approximately $9,242,472.33. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.28% 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, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for use in space heating applications for hospitals, schools, hotels, and other large 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 filtrations products for residences, restaurants, hotels, and offices.
See Also: What is a put option?
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.