Sumitomo Mitsui Asset Management Company LTD reduced its position in shares of Smith (A.O.) Corporation (NYSE:AOS) by 13.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,146 shares of the industrial products company’s stock after selling 1,582 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Smith (A.O.) Corporation were worth $571,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AOS. Campbell & CO Investment Adviser LLC purchased a new position in Smith (A.O.) Corporation during the second quarter worth about $269,000. ING Groep NV bought a new position in shares of Smith (A.O.) Corporation during the second quarter valued at about $566,000. First Citizens Bank & Trust Co. boosted its position in shares of Smith (A.O.) Corporation by 23.3% in the second quarter. First Citizens Bank & Trust Co. now owns 9,789 shares of the industrial products company’s stock valued at $551,000 after buying an additional 1,847 shares in the last quarter. Insight Capital Research & Management Inc. bought a new position in shares of Smith (A.O.) Corporation during the second quarter valued at about $337,000. Finally, US Bancorp DE boosted its position in shares of Smith (A.O.) Corporation by 7.0% in the second quarter. US Bancorp DE now owns 55,178 shares of the industrial products company’s stock valued at $3,108,000 after buying an additional 3,628 shares in the last quarter. Hedge funds and other institutional investors own 74.64% of the company’s stock.

Smith (AOS) opened at 54.03 on Thursday. The company’s 50 day moving average is $55.91 and its 200 day moving average is $52.96. The stock has a market cap of $9.45 billion, a PE ratio of 27.43 and a beta of 1.51. Smith has a 12 month low of $43.66 and a 12 month high of $57.97.

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 analysts’ consensus estimates of $0.53. The business had revenue of $738.20 million for the quarter, compared to the consensus estimate of $729.33 million. Smith (A.O.) Corporation had a net margin of 12.10% and a return on equity of 22.25%. During the same quarter last year, the firm posted $0.49 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts anticipate that Smith will post $2.11 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, July 27th. Smith (A.O.) Corporation’s payout ratio is currently 28.43%.

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AOS has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Smith (A.O.) Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, April 13th. KeyCorp reiterated 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. Jefferies Group LLC set a $60.00 price target on shares of Smith (A.O.) Corporation and gave the company a “buy” rating in a research report on Thursday, June 1st. 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. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Smith (A.O.) Corporation in a research report on Wednesday, July 26th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $66.80.

In other news, Director Ronald D. Brown sold 8,000 shares of Smith (A.O.) Corporation stock in a transaction that occurred 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 transaction, the director now owns 43,896 shares of the company’s stock, valued at approximately $2,381,358. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul W. Jones sold 60,000 shares of Smith (A.O.) Corporation stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $54.02, for a total transaction of $3,241,200.00. Following the completion of the transaction, the director now directly owns 277,465 shares in the company, valued at approximately $14,988,659.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,400 shares of company stock worth $5,734,444. Insiders own 1.27% of the company’s stock.

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

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