Reliant Investment Management LLC continued to hold its position in shares of Smith (A.O.) Corporation (NYSE:AOS) during the third quarter, Holdings Channel reports. The institutional investor owned 23,970 shares of the company’s stock at the end of the third quarter. Reliant Investment Management LLC’s holdings in Smith (A.O.) Corporation were worth $2,112,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Frontier Capital Management Co. LLC boosted its position in shares of Smith (A.O.) Corporation by 117.8% in the second quarter. Frontier Capital Management Co. LLC now owns 727,192 shares of the company’s stock worth $64,073,000 after buying an additional 393,248 shares during the last quarter. Two Sigma Advisers LP boosted its position in Smith (A.O.) Corporation by 1,182.2% in the third quarter. Two Sigma Advisers LP now owns 312,861 shares of the company’s stock valued at $30,908,000 after buying an additional 288,461 shares in the last quarter. SG Americas Securities LLC boosted its position in Smith (A.O.) Corporation by 1,484.9% in the third quarter. SG Americas Securities LLC now owns 298,486 shares of the company’s stock valued at $29,487,000 after buying an additional 279,653 shares in the last quarter. Peregrine Capital Management LLC bought a new position in Smith (A.O.) Corporation during the third quarter valued at about $27,363,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in Smith (A.O.) Corporation during the second quarter valued at about $19,201,000. Institutional investors own 42.47% of the company’s stock.
Smith (NYSE:AOS) opened at 49.83 on Monday. The stock has a 50 day moving average of $48.31 and a 200 day moving average of $47.97. Smith has a 52 week low of $33.33 and a 52 week high of $51.49. The company has a market cap of $8.77 billion, a PE ratio of 26.99 and a beta of 1.42.
Smith (A.O.) Corporation (NYSE:AOS) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $698.10 million for the quarter, compared to analyst estimates of $709.33 million. Smith (A.O.) Corporation had a return on equity of 21.77% and a net margin of 12.16%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. Equities research analysts predict that Smith will post $2.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 31st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.12%. The ex-dividend date is Friday, January 27th. This is a positive change from Smith (A.O.) Corporation’s previous quarterly dividend of $0.12. Smith (A.O.) Corporation’s payout ratio is 30.35%.
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Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, February 7th. Stifel Nicolaus upped their target price on shares of Smith (A.O.) Corporation from $49.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, February 3rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Smith (A.O.) Corporation currently has an average rating of “Buy” and a consensus target price of $58.50.
In other Smith (A.O.) Corporation news, insider John J. Kita sold 20,000 shares of Smith (A.O.) Corporation stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $49.74, for a total value of $994,800.00. Following the transaction, the insider now owns 47,597 shares in the company, valued at $2,367,474.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark A. Petrarca sold 10,000 shares of Smith (A.O.) Corporation stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $49.73, for a total value of $497,300.00. The disclosure for this sale can be found here. Insiders sold 108,111 shares of company stock worth $5,344,929 in the last quarter. 1.76% of the stock is owned by insiders.
About Smith (A.O.) Corporation
A. O. Smith Corporation operates its business through two segments, which include North America and Rest of World. The Company’s Rest of World segment primarily comprises China, Europe and India. The Rest of World segment supplies water heaters to the residential market in China with a range of product offering, including electric, gas, gas tankless, heat pump and solar units, as well as combi boilers.
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