CIBC World Markets Inc. Raises Position in Smith (A.O.) Corporation (AOS)

CIBC World Markets Inc. increased its holdings in Smith (A.O.) Corporation (NYSE:AOS) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,476 shares of the industrial products company’s stock after buying an additional 355 shares during the quarter. CIBC World Markets Inc.’s holdings in Smith (A.O.) Corporation were worth $1,097,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Smith (A.O.) Corporation by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 13,458,672 shares of the industrial products company’s stock worth $688,546,000 after purchasing an additional 352,139 shares during the period. BlackRock Inc. grew its stake in shares of Smith (A.O.) Corporation by 4,592.7% during the 1st quarter. BlackRock Inc. now owns 13,065,205 shares of the industrial products company’s stock worth $668,415,000 after purchasing an additional 12,786,787 shares during the period. Janus Capital Management LLC grew its stake in shares of Smith (A.O.) Corporation by 18.5% during the 1st quarter. Janus Capital Management LLC now owns 8,349,956 shares of the industrial products company’s stock worth $427,184,000 after purchasing an additional 1,306,490 shares during the period. State Street Corp grew its stake in shares of Smith (A.O.) Corporation by 12.5% during the 1st quarter. State Street Corp now owns 7,049,020 shares of the industrial products company’s stock worth $360,634,000 after purchasing an additional 781,403 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Smith (A.O.) Corporation by 38.1% during the 1st quarter. Alliancebernstein L.P. now owns 3,679,499 shares of the industrial products company’s stock worth $188,243,000 after purchasing an additional 1,014,464 shares during the period. Institutional investors own 74.10% of the company’s stock.

Shares of Smith (NYSE AOS) opened at 58.22 on Friday. The company has a 50-day moving average of $55.00 and a 200-day moving average of $54.02. Smith has a 1-year low of $43.66 and a 1-year high of $58.27. The firm has a market cap of $10.05 billion, a PE ratio of 29.55 and a beta of 1.49.

Smith (A.O.) Corporation (NYSE:AOS) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Smith (A.O.) Corporation had a return on equity of 22.25% and a net margin of 12.10%. The business had revenue of $738.20 million during the quarter, compared to analysts’ expectations of $729.33 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Analysts predict that Smith will post $2.11 earnings per share for the current fiscal year.

A number of brokerages have recently commented on AOS. KeyCorp reaffirmed a “hold” rating on shares of Smith (A.O.) Corporation in a research note on Tuesday. BMO Capital Markets reaffirmed a “buy” rating and set a $60.00 price objective on shares of Smith (A.O.) Corporation in a research note on Wednesday, September 6th. Robert W. Baird set a $61.00 price objective on shares of Smith (A.O.) Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. Stifel Nicolaus reaffirmed a “hold” rating and set a $56.00 price objective on shares of Smith (A.O.) Corporation in a research note on Friday, August 11th. Finally, BidaskClub cut shares of Smith (A.O.) Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $66.83.

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In related news, Director Paul W. Jones sold 60,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 277,465 shares of the company’s stock, valued at $14,988,659.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.27% of the stock is owned by corporate insiders.

Smith (A.O.) Corporation Company Profile

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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