BMO Capital Markets restated their buy rating on shares of Smith (A.O.) Corporation (NYSE:AOS) in a research note released on Friday. They currently have a $60.00 price target on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Smith (A.O.) Corporation from a hold rating to a buy rating and set a $57.00 target price for the company in a report on Thursday, April 13th. Boenning Scattergood reissued a buy rating on shares of Smith (A.O.) Corporation in a report on Wednesday, July 26th. BidaskClub downgraded Smith (A.O.) Corporation from a strong-buy rating to a buy rating in a report on Monday, July 24th. Jefferies Group LLC reissued a buy rating on shares of Smith (A.O.) Corporation in a report on Friday, July 14th. Finally, KeyCorp reissued a sector weight rating on shares of Smith (A.O.) Corporation in a 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 assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $66.80.

Shares of Smith (NYSE AOS) opened at 53.55 on Friday. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 27.18 and a beta of 1.53. Smith has a one year low of $43.66 and a one year high of $57.97. The company has a 50-day moving average of $56.41 and a 200 day moving average of $52.71.

Smith (A.O.) Corporation (NYSE:AOS) last released its earnings results on Wednesday, July 26th. The industrial products company reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. Smith (A.O.) Corporation had a return on equity of 22.25% and a net margin of 12.10%. The company had revenue of $738.20 million during the quarter, compared to the consensus estimate of $729.33 million. During the same quarter last year, the company earned $0.49 earnings per share. Smith (A.O.) Corporation’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that Smith will post $2.10 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, July 27th. Smith (A.O.) Corporation’s dividend payout ratio (DPR) is presently 28.43%.

In other news, insider John J. Kita sold 12,200 shares of Smith (A.O.) Corporation 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 owns 85,067 shares of the company’s stock, valued at approximately $4,790,973.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ajita G. Rajendra sold 30,000 shares of Smith (A.O.) Corporation stock in a transaction on Friday, May 5th. The stock was sold at an average price of $55.25, for a total value of $1,657,500.00. Following the transaction, the chairman now directly owns 269,345 shares of the company’s stock, valued at approximately $14,881,311.25. The disclosure for this sale can be found here. Insiders have sold a total of 94,987 shares of company stock valued at $5,215,374 in the last ninety days. Corporate insiders own 1.27% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Smith (A.O.) Corporation by 4,592.7% in the first quarter. BlackRock Inc. now owns 13,065,205 shares of the industrial products company’s stock valued at $668,415,000 after buying an additional 12,786,787 shares during the period. Janus Capital Management LLC increased its position in Smith (A.O.) Corporation by 18.5% in the first quarter. Janus Capital Management LLC now owns 8,349,956 shares of the industrial products company’s stock valued at $427,184,000 after buying an additional 1,306,490 shares during the period. Alliancebernstein L.P. increased its position in Smith (A.O.) Corporation by 38.1% in the first quarter. Alliancebernstein L.P. now owns 3,679,499 shares of the industrial products company’s stock valued at $188,243,000 after buying an additional 1,014,464 shares during the period. State Street Corp increased its position in Smith (A.O.) Corporation by 12.5% in the first quarter. State Street Corp now owns 7,049,020 shares of the industrial products company’s stock valued at $360,634,000 after buying an additional 781,403 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Smith (A.O.) Corporation by 97.7% in the first quarter. JPMorgan Chase & Co. now owns 1,005,561 shares of the industrial products company’s stock valued at $51,444,000 after buying an additional 496,832 shares during the period. 74.63% of the stock is owned by institutional investors and hedge funds.

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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