Cornerstone Capital Management Holdings LLC. Acquires 57,267 Shares of A. O. Smith Corp (AOS)
Cornerstone Capital Management Holdings LLC. increased its holdings in shares of A. O. Smith Corp (NYSE:AOS) by 226.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,533 shares of the industrial products company’s stock after acquiring an additional 57,267 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in A. O. Smith were worth $5,056,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in AOS. Tower Research Capital LLC TRC increased its holdings in A. O. Smith by 70.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,784 shares of the industrial products company’s stock valued at $171,000 after buying an additional 1,150 shares during the period. Commerzbank Aktiengesellschaft FI bought a new position in A. O. Smith in the 4th quarter valued at about $210,000. Brookmont Capital Management bought a new position in A. O. Smith in the 4th quarter valued at about $224,000. Wellington Shields Capital Management LLC bought a new position in A. O. Smith in the 4th quarter valued at about $245,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in A. O. Smith in the 3rd quarter valued at about $245,000. 74.44% of the stock is currently owned by institutional investors and hedge funds.
AOS has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of A. O. Smith from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. BMO Capital Markets reissued a “buy” rating and issued a $78.00 target price on shares of A. O. Smith in a report on Friday, January 26th. Stifel Nicolaus reissued a “hold” rating and issued a $59.00 target price on shares of A. O. Smith in a report on Monday, December 11th. Robert W. Baird reissued a “buy” rating and issued a $70.00 target price on shares of A. O. Smith in a report on Wednesday, January 31st. Finally, Boenning Scattergood reissued a “hold” rating on shares of A. O. Smith in a report on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $67.83.
A. O. Smith (NYSE:AOS) last announced its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $768.60 million for the quarter, compared to analyst estimates of $767.45 million. A. O. Smith had a net margin of 9.89% and a return on equity of 23.30%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. research analysts anticipate that A. O. Smith Corp will post 2.57 earnings per share for the current fiscal year.
In related news, Chairman Ajita G. Rajendra sold 6,800 shares of A. O. Smith stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $64.02, for a total transaction of $435,336.00. Following the sale, the chairman now directly owns 301,018 shares of the company’s stock, valued at approximately $19,271,172.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ajita G. Rajendra sold 5,000 shares of A. O. Smith stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $66.55, for a total transaction of $332,750.00. Following the sale, the chairman now directly owns 301,018 shares in the company, valued at $20,032,747.90. The disclosure for this sale can be found here. Insiders have sold a total of 110,635 shares of company stock worth $7,149,622 over the last ninety days. 1.28% of the stock is currently owned by insiders.
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A. O. Smith 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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