Boenning Scattergood reaffirmed their buy rating on shares of Smith (A.O.) Corporation (NYSE:AOS) in a research report released on Wednesday. Boenning Scattergood also issued estimates for Smith (A.O.) Corporation’s Q3 2017 earnings at $0.54 EPS, FY2017 earnings at $2.10 EPS, Q2 2018 earnings at $0.59 EPS and FY2018 earnings at $2.36 EPS.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Smith (A.O.) Corporation from a strong-buy rating to a buy rating in a research report on Monday, July 24th. Jefferies Group LLC set a $60.00 target price on shares of Smith (A.O.) Corporation and gave the company a buy rating in a research report on Thursday, June 1st. Zacks Investment Research cut shares of Smith (A.O.) Corporation from a buy rating to a hold rating in a research report on Tuesday, May 2nd. Finally, KeyCorp reissued a sector weight rating on shares of Smith (A.O.) Corporation in a research report on Friday, April 28th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $66.80.

Smith (NYSE:AOS) opened at 54.29 on Wednesday. Smith has a one year low of $43.66 and a one year high of $57.97. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 27.56 and a beta of 1.53. The company has a 50-day moving average of $56.48 and a 200-day moving average of $52.60.

Smith (A.O.) Corporation (NYSE:AOS) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $0.53 EPS for the quarter, meeting the Zacks’ 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 company had revenue of $738.20 million during the quarter, compared to analysts’ expectations of $729.33 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. Smith (A.O.) Corporation’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that Smith will post $2.10 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.03%. Smith (A.O.) Corporation’s dividend payout ratio is currently 28.43%.

In other Smith (A.O.) Corporation news, Director Ronald D. Brown sold 8,000 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $54.25, for a total value of $434,000.00. Following the completion of the transaction, the director now owns 43,896 shares of the company’s stock, valued at $2,381,358. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John J. Kita sold 12,200 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $56.32, for a total transaction of $687,104.00. Following the completion of the transaction, the insider now directly owns 85,067 shares of the company’s stock, valued at approximately $4,790,973.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,928 shares of company stock valued at $7,960,678. Corporate insiders own 1.27% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund boosted its position in Smith (A.O.) Corporation by 0.8% in the second quarter. Texas Permanent School Fund now owns 107,526 shares of the industrial products company’s stock worth $6,057,000 after buying an additional 899 shares in the last quarter. World Asset Management Inc boosted its position in Smith (A.O.) Corporation by 2.8% in the second quarter. World Asset Management Inc now owns 10,686 shares of the industrial products company’s stock worth $602,000 after buying an additional 291 shares in the last quarter. Bessemer Group Inc. boosted its position in Smith (A.O.) Corporation by 215.1% in the second quarter. Bessemer Group Inc. now owns 12,812 shares of the industrial products company’s stock worth $721,000 after buying an additional 8,746 shares in the last quarter. Lebenthal Lisanti Capital Growth LLC bought a new position in Smith (A.O.) Corporation during the second quarter worth about $1,248,000. Finally, Great West Life Assurance Co. Can boosted its position in Smith (A.O.) Corporation by 2.8% in the second quarter. Great West Life Assurance Co. Can now owns 121,520 shares of the industrial products company’s stock worth $6,843,000 after buying an additional 3,263 shares in the last quarter. 74.88% of the stock is owned by institutional investors and hedge funds.

Smith (A.O.) Corporation 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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