Ameriprise Financial Inc. lessened its holdings in Smith (A.O.) Corporation (NYSE:AOS) by 71.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,763 shares of the industrial products company’s stock after selling 738,732 shares during the quarter. Ameriprise Financial Inc. owned 0.17% of Smith (A.O.) worth $17,579,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AOS. NGAM Advisors L.P. raised its position in Smith (A.O.) by 1.2% during the second quarter. NGAM Advisors L.P. now owns 18,926 shares of the industrial products company’s stock worth $1,066,000 after acquiring an additional 227 shares in the last quarter. Bessemer Group Inc. raised its position in Smith (A.O.) by 215.1% during the second quarter. Bessemer Group Inc. now owns 12,812 shares of the industrial products company’s stock worth $721,000 after acquiring an additional 8,746 shares in the last quarter. Korea Investment CORP raised its position in Smith (A.O.) by 1,490.0% during the second quarter. Korea Investment CORP now owns 31,800 shares of the industrial products company’s stock worth $1,791,000 after acquiring an additional 29,800 shares in the last quarter. New Mexico Educational Retirement Board bought a new stake in Smith (A.O.) during the second quarter worth $734,000. Finally, Schwab Charles Investment Management Inc. raised its position in Smith (A.O.) by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 553,602 shares of the industrial products company’s stock worth $31,185,000 after acquiring an additional 33,790 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Smith (NYSE AOS) opened at $61.06 on Wednesday. Smith has a fifty-two week low of $46.44 and a fifty-two week high of $63.70. The company has a market cap of $10,549.50, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 2.31 and a beta of 1.55. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.92.

Smith (A.O.) (NYSE:AOS) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. Smith (A.O.) had a net margin of 12.18% and a return on equity of 22.42%. The firm had revenue of $749.90 million for the quarter, compared to the consensus estimate of $741.28 million. During the same period in the previous year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. equities research analysts predict that Smith will post 2.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.56 annualized dividend and a dividend yield of 0.92%. Smith (A.O.)’s dividend payout ratio is currently 27.45%.

In related news, insider Peter R. Martineau sold 22,267 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $59.33, for a total value of $1,321,101.11. Following the transaction, the insider now directly owns 17,528 shares in the company, valued at $1,039,936.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James F. Stern sold 12,423 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $62.28, for a total transaction of $773,704.44. Following the completion of the transaction, the vice president now owns 146,257 shares in the company, valued at $9,108,885.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,156 shares of company stock worth $6,092,537. Corporate insiders own 1.27% of the company’s stock.

Several research firms have issued reports on AOS. Stifel Nicolaus reaffirmed a “hold” rating and set a $59.00 price target on shares of Smith (A.O.) in a research report on Monday. Zacks Investment Research downgraded shares of Smith (A.O.) from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Robert W. Baird reiterated a “buy” rating and issued a $68.00 price objective on shares of Smith (A.O.) in a report on Friday, October 27th. Boenning Scattergood downgraded shares of Smith (A.O.) from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 25th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $65.00 price objective on shares of Smith (A.O.) in a report on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.40.

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Smith (A.O.) Company Profile

A. O. Smith Corporation operates through two segments: North America and Rest of World. The Company’s Rest of World segment primarily consists of China, Europe and India. Both segments manufacture and market comprehensive lines of residential and commercial gas, gas tankless and electric water heaters, as well as water treatment products.

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Institutional Ownership by Quarter for Smith (A.O.) (NYSE:AOS)

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