Eagle Asset Management Inc. Purchases 73,182 Shares of A. O. Smith Corp (AOS)
Eagle Asset Management Inc. grew its position in shares of A. O. Smith Corp (NYSE:AOS) by 13.1% during the 4th quarter, Holdings Channel reports. The firm owned 630,988 shares of the industrial products company’s stock after acquiring an additional 73,182 shares during the period. Eagle Asset Management Inc.’s holdings in A. O. Smith were worth $38,748,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in AOS. Toronto Dominion Bank increased its position in shares of A. O. Smith by 11.8% during the 2nd quarter. Toronto Dominion Bank now owns 1,807 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 191 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in A. O. Smith during the 4th quarter worth approximately $210,000. Annex Advisory Services LLC bought a new position in A. O. Smith during the 3rd quarter worth approximately $214,000. Dynamic Technology Lab Private Ltd bought a new position in A. O. Smith during the 3rd quarter worth approximately $245,000. Finally, Wellington Shields Capital Management LLC bought a new position in A. O. Smith during the 4th quarter worth approximately $245,000. Hedge funds and other institutional investors own 74.95% of the company’s stock.
In other A. O. Smith news, insider John J. Kita sold 25,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $66.10, for a total value of $1,652,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ajita G. Rajendra sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $61.81, for a total value of $927,150.00. Following the completion of the sale, the chief executive officer now owns 299,369 shares of the company’s stock, valued at approximately $18,503,997.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,834 shares of company stock valued at $7,614,898. Company insiders own 1.27% of the company’s stock.
A. O. Smith (NYSE:AOS) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. A. O. Smith had a return on equity of 23.30% and a net margin of 9.89%. The business had revenue of $768.60 million during the quarter, compared to analysts’ expectations of $767.45 million. During the same quarter last year, the business posted $0.47 EPS. The business’s revenue was up 10.1% on a year-over-year basis. analysts predict that A. O. Smith Corp will post 2.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were issued a $0.18 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $0.72 annualized dividend and a yield of 1.10%. This is a boost from A. O. Smith’s previous quarterly dividend of $0.14. A. O. Smith’s dividend payout ratio (DPR) is 42.35%.
Several equities analysts recently issued reports on the company. Robert W. Baird restated a “buy” rating and set a $70.00 price target on shares of A. O. Smith in a research report on Wednesday, January 31st. Zacks Investment Research upgraded A. O. Smith from a “sell” rating to a “hold” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 31st. Boenning Scattergood lowered A. O. Smith from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 25th. BMO Capital Markets restated a “buy” rating and set a $78.00 price target on shares of A. O. Smith in a research report on Friday, January 26th. Finally, Stifel Nicolaus restated a “hold” rating and set a $61.00 price target on shares of A. O. Smith in a research report on Thursday, October 26th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $67.83.
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A. O. Smith 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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