Marshall Wace LLP purchased a new position in shares of A. O. Smith Corp (NYSE:AOS) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 564,193 shares of the industrial products company’s stock, valued at approximately $30,083,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc increased its position in A. O. Smith by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 15,880,701 shares of the industrial products company’s stock worth $847,553,000 after purchasing an additional 151,373 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in A. O. Smith by 6.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 11,873 shares of the industrial products company’s stock valued at $507,000 after buying an additional 702 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in A. O. Smith by 3,884.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,414,865 shares of the industrial products company’s stock valued at $33,000 after buying an additional 1,379,356 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new stake in A. O. Smith in the 4th quarter valued at about $485,000. Finally, Canada Pension Plan Investment Board purchased a new stake in A. O. Smith in the 4th quarter valued at about $1,650,000. 75.13% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Paul R. Dana sold 9,010 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $52.76, for a total transaction of $475,367.60. Following the completion of the sale, the vice president now directly owns 14,912 shares of the company’s stock, valued at $786,757.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronald D. Brown sold 8,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $52.45, for a total value of $419,600.00. Following the sale, the director now directly owns 35,896 shares of the company’s stock, valued at $1,882,745.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,010 shares of company stock valued at $944,468. 1.03% of the stock is currently owned by company insiders.

Several analysts have commented on AOS shares. Robert W. Baird lifted their price target on A. O. Smith from $56.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. KeyCorp lifted their price target on A. O. Smith from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, March 12th. Zacks Investment Research upgraded A. O. Smith from a “sell” rating to a “hold” rating in a report on Monday, April 8th. DA Davidson cut their price objective on A. O. Smith to $58.00 and set a “buy” rating for the company in a report on Friday, June 7th. Finally, Edward Jones lowered A. O. Smith from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $55.55.

Shares of A. O. Smith stock traded up $0.23 during trading on Friday, hitting $45.53. The stock had a trading volume of 1,582,675 shares, compared to its average volume of 2,508,157. The company has a quick ratio of 1.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.18. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.50. A. O. Smith Corp has a fifty-two week low of $40.34 and a fifty-two week high of $63.74.

A. O. Smith (NYSE:AOS) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.04). The firm had revenue of $748.20 million during the quarter, compared to analyst estimates of $764.16 million. A. O. Smith had a net margin of 13.81% and a return on equity of 25.01%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. Analysts anticipate that A. O. Smith Corp will post 2.69 earnings per share for the current fiscal year.

A. O. Smith announced that its Board of Directors has approved a stock repurchase plan on Monday, June 3rd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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About A. O. Smith

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtration products for residences, restaurants, hotels, and offices.

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

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