Traders Purchase High Volume of A. O. Smith Call Options (AOS)
A. O. Smith Corp (NYSE:AOS) was the recipient of some unusual options trading on Wednesday. Traders acquired 1,709 call options on the company. This represents an increase of 2,413% compared to the average daily volume of 68 call options.
In other A. O. Smith news, Director Paul W. Jones sold 4,591 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $58.92, for a total value of $270,501.72. Following the completion of the transaction, the director now directly owns 214,558 shares in the company, valued at $12,641,757.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.28% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Fort L.P. bought a new position in shares of A. O. Smith during the 2nd quarter worth approximately $116,000. Signet Financial Management LLC bought a new position in shares of A. O. Smith during the 2nd quarter worth approximately $119,000. Captrust Financial Advisors boosted its stake in shares of A. O. Smith by 83.6% during the 2nd quarter. Captrust Financial Advisors now owns 2,264 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 1,031 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of A. O. Smith during the 2nd quarter worth approximately $142,000. Finally, Federated Investors Inc. PA acquired a new stake in A. O. Smith during the 2nd quarter worth approximately $145,000. Institutional investors own 74.99% of the company’s stock.
A. O. Smith (NYSE:AOS) last issued its earnings results on Wednesday, July 25th. The industrial products company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.04. A. O. Smith had a return on equity of 24.67% and a net margin of 10.50%. The company had revenue of $833.30 million during the quarter, compared to the consensus estimate of $811.72 million. During the same period in the previous year, the company posted $0.53 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. research analysts expect that A. O. Smith will post 2.61 EPS for the current year.
A number of research analysts have weighed in on the company. SunTrust Banks restated a “buy” rating and issued a $71.00 price target on shares of A. O. Smith in a research note on Thursday, July 26th. Zacks Investment Research downgraded A. O. Smith from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. ValuEngine downgraded A. O. Smith from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. Boenning Scattergood restated a “buy” rating and issued a $75.00 price target on shares of A. O. Smith in a research note on Wednesday, July 25th. Finally, BMO Capital Markets restated a “buy” rating and issued a $73.00 price target on shares of A. O. Smith in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $70.71.
About A. O. Smith
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for use in space heating applications for hospitals, schools, hotels, and other large 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 filtrations products for residences, restaurants, hotels, and offices.
Recommended Story: What is Considered a Good Return on Equity (ROE)?
Receive News & Ratings for A. O. Smith Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for A. O. Smith and related companies with MarketBeat.com's FREE daily email newsletter.