Riverhead Capital Management LLC boosted its position in A. O. Smith Corp (NYSE:AOS) by 28.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,485 shares of the industrial products company’s stock after purchasing an additional 14,129 shares during the period. Riverhead Capital Management LLC’s holdings in A. O. Smith were worth $3,442,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of AOS. Bath Savings Trust Co grew its stake in A. O. Smith by 17.3% during the third quarter. Bath Savings Trust Co now owns 6,650 shares of the industrial products company’s stock worth $355,000 after purchasing an additional 980 shares during the period. Captrust Financial Advisors increased its position in A. O. Smith by 83.6% in the second quarter. Captrust Financial Advisors now owns 2,264 shares of the industrial products company’s stock worth $134,000 after buying an additional 1,031 shares during the last quarter. Janney Montgomery Scott LLC increased its position in A. O. Smith by 13.1% in the third quarter. Janney Montgomery Scott LLC now owns 11,171 shares of the industrial products company’s stock worth $596,000 after buying an additional 1,293 shares during the last quarter. Synovus Financial Corp increased its position in A. O. Smith by 10.2% in the third quarter. Synovus Financial Corp now owns 14,038 shares of the industrial products company’s stock worth $748,000 after buying an additional 1,296 shares during the last quarter. Finally, Lido Advisors LLC increased its position in A. O. Smith by 22.6% in the second quarter. Lido Advisors LLC now owns 7,610 shares of the industrial products company’s stock worth $450,000 after buying an additional 1,404 shares during the last quarter. 77.02% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on AOS. BMO Capital Markets decreased their target price on A. O. Smith from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Wednesday, October 31st. Robert W. Baird decreased their target price on A. O. Smith from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, October 10th. Goldman Sachs Group began coverage on A. O. Smith in a research report on Tuesday, October 2nd. They issued a “sell” rating and a $50.00 target price for the company. Stephens began coverage on A. O. Smith in a research report on Monday, November 19th. They issued an “equal weight” rating and a $50.00 target price for the company. Finally, Zacks Investment Research downgraded A. O. Smith from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. A. O. Smith has a consensus rating of “Hold” and a consensus target price of $64.00.
In other news, Director Paul W. Jones sold 9,000 shares of A. O. Smith stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $45.99, for a total value of $413,910.00. Following the completion of the transaction, the director now directly owns 200,967 shares in the company, valued at $9,242,472.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.28% of the stock is currently owned by insiders.
NYSE:AOS opened at $43.91 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.16 and a quick ratio of 1.75. A. O. Smith Corp has a 1 year low of $40.34 and a 1 year high of $68.39. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.54 and a beta of 1.45.
A. O. Smith (NYSE:AOS) last announced its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.02). The company had revenue of $754.10 million during the quarter, compared to analysts’ expectations of $805.92 million. A. O. Smith had a net margin of 10.83% and a return on equity of 24.98%. A. O. Smith’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share. On average, equities research analysts predict that A. O. Smith Corp will post 2.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, October 30th. This is a boost from A. O. Smith’s previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a dividend yield of 2.00%. A. O. Smith’s payout ratio is 40.55%.
A. O. Smith Profile
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.
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