BB&T Securities LLC cut its position in shares of Smith (A.O.) Corporation (NYSE:AOS) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,773 shares of the industrial products company’s stock after selling 559 shares during the period. BB&T Securities LLC’s holdings in Smith (A.O.) Corporation were worth $1,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Turner Investments LLC raised its position in Smith (A.O.) Corporation by 35.3% in the second quarter. Turner Investments LLC now owns 23,000 shares of the industrial products company’s stock worth $1,296,000 after buying an additional 6,000 shares during the last quarter. KBC Group NV raised its position in Smith (A.O.) Corporation by 25.9% in the second quarter. KBC Group NV now owns 106,426 shares of the industrial products company’s stock worth $5,995,000 after buying an additional 21,895 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Smith (A.O.) Corporation by 52.0% in the second quarter. BNP Paribas Arbitrage SA now owns 71,703 shares of the industrial products company’s stock worth $4,039,000 after buying an additional 24,541 shares during the last quarter. Comerica Bank raised its position in Smith (A.O.) Corporation by 3.1% in the second quarter. Comerica Bank now owns 138,824 shares of the industrial products company’s stock worth $7,676,000 after buying an additional 4,126 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Smith (A.O.) Corporation by 16.0% in the second quarter. Legal & General Group Plc now owns 265,898 shares of the industrial products company’s stock worth $14,978,000 after buying an additional 36,599 shares during the last quarter. 74.09% of the stock is currently owned by institutional investors and hedge funds.

Shares of Smith (AOS) opened at 54.17 on Tuesday. Smith has a 1-year low of $43.66 and a 1-year high of $57.97. The company has a 50 day moving average price of $55.11 and a 200-day moving average price of $53.39. The stock has a market capitalization of $9.35 billion, a P/E ratio of 27.50 and a beta of 1.51.

Smith (A.O.) Corporation (NYSE:AOS) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. Smith (A.O.) Corporation had a net margin of 12.10% and a return on equity of 22.25%. The firm had revenue of $738.20 million during the quarter, compared to analysts’ expectations of $729.33 million. During the same quarter in the previous year, the company posted $0.49 EPS. Smith (A.O.) Corporation’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that Smith will post $2.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.03%. The ex-dividend date was Thursday, July 27th. Smith (A.O.) Corporation’s dividend payout ratio (DPR) is presently 28.43%.

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A number of research firms have recently issued reports on AOS. Robert W. Baird set a $61.00 target price on Smith (A.O.) Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. Stifel Nicolaus reissued a “hold” rating and issued a $56.00 target price on shares of Smith (A.O.) Corporation in a report on Friday, August 11th. BidaskClub lowered Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Zacks Investment Research lowered Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, BMO Capital Markets reissued a “buy” rating and issued a $60.00 target price on shares of Smith (A.O.) Corporation in a report on Friday, July 28th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Smith (A.O.) Corporation presently has an average rating of “Buy” and an average target price of $66.83.

In related news, insider John J. Kita sold 12,200 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $56.32, for a total value of $687,104.00. Following the completion of the transaction, the insider now owns 85,067 shares in the company, valued at approximately $4,790,973.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul W. Jones sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $54.02, for a total transaction of $3,241,200.00. Following the completion of the transaction, the director now owns 277,465 shares of the company’s stock, valued at approximately $14,988,659.30. The disclosure for this sale can be found here. Insiders own 1.27% of the company’s stock.

About Smith (A.O.) Corporation

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.) Corporation (NYSE:AOS)

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