Advisors Asset Management Inc. Increases Position in A.O. Smith Corp. (AOS)
Advisors Asset Management Inc. boosted its position in shares of A.O. Smith Corp. (NYSE:AOS) by 75.1% during the second quarter, Holdings Channel reports. The fund owned 16,293 shares of the company’s stock after buying an additional 6,988 shares during the period. Advisors Asset Management Inc.’s holdings in A.O. Smith Corp. were worth $1,436,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB purchased a new stake in A.O. Smith Corp. during the second quarter worth $150,000. Daiwa Securities Group Inc. purchased a new stake in A.O. Smith Corp. during the second quarter worth $150,000. Mn Services Vermogensbeheer B.V. purchased a new stake in A.O. Smith Corp. during the second quarter worth $150,000. Meeder Asset Management Inc. raised its stake in A.O. Smith Corp. by 1.0% in the first quarter. Meeder Asset Management Inc. now owns 2,548 shares of the company’s stock worth $195,000 after buying an additional 25 shares during the last quarter. Finally, Timber Hill LLC purchased a new stake in A.O. Smith Corp. during the second quarter worth $201,000. 75.32% of the stock is owned by institutional investors and hedge funds.
A.O. Smith Corp. (NYSE:AOS) opened at 92.14 on Friday. A.O. Smith Corp. has a 52-week low of $60.30 and a 52-week high of $97.13. The stock has a 50 day moving average of $94.44 and a 200 day moving average of $83.57. The stock has a market capitalization of $8.04 billion, a P/E ratio of 26.09 and a beta of 1.49. A.O. Smith Corp. shares are set to split on the morning of Thursday, October 6th. The 2-1 split was announced on Wednesday, September 7th. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, October 5th.
A.O. Smith Corp. (NYSE:AOS) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. The business had revenue of $667 million for the quarter, compared to the consensus estimate of $696.69 million. A.O. Smith Corp. had a net margin of 12.23% and a return on equity of 21.57%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. On average, equities research analysts forecast that A.O. Smith Corp. will post $3.63 EPS for the current year.
AOS has been the subject of a number of recent analyst reports. SunTrust Banks Inc. lowered their price target on shares of A.O. Smith Corp. from $103.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, July 14th. BMO Capital Markets set a $106.00 price objective on shares of A.O. Smith Corp. and gave the stock a “buy” rating in a report on Monday, August 8th. Zacks Investment Research raised shares of A.O. Smith Corp. from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Thursday, July 28th. Finally, Longbow Research began coverage on shares of A.O. Smith Corp. in a report on Friday, June 17th. They set a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $88.71.
In other A.O. Smith Corp. news, Director Mark D. Smith sold 1,146 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $93.76, for a total transaction of $107,448.96. Following the transaction, the director now directly owns 54,850 shares in the company, valued at approximately $5,142,736. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wilfridus M. Brouwer sold 6,200 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $93.29, for a total transaction of $578,398.00. Following the transaction, the insider now owns 19,449 shares in the company, valued at $1,814,397.21. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.
About A.O. Smith Corp.
A. O. Smith Corporation operates its business through two segments, which include North America and Rest of World. The Company’s Rest of World segment primarily comprises China, Europe and India. The Rest of World segment supplies water heaters to the residential market in China with a range of product offering, including electric, gas, gas tankless, heat pump and solar units, as well as combi boilers.
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