Daiwa Securities Group Inc. cut its stake in A. O. Smith Corp (NYSE:AOS) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,488 shares of the industrial products company’s stock after selling 3,647 shares during the period. Daiwa Securities Group Inc.’s holdings in A. O. Smith were worth $2,070,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of AOS. Bank of New York Mellon Corp lifted its holdings in A. O. Smith by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,115,094 shares of the industrial products company’s stock worth $65,957,000 after buying an additional 5,253 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in A. O. Smith by 5.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 30,436 shares of the industrial products company’s stock worth $1,624,000 after buying an additional 1,706 shares in the last quarter. Bank of Montreal Can lifted its holdings in A. O. Smith by 76.4% during the 3rd quarter. Bank of Montreal Can now owns 695,232 shares of the industrial products company’s stock worth $37,105,000 after buying an additional 301,211 shares in the last quarter. First Hawaiian Bank acquired a new position in A. O. Smith during the 3rd quarter worth $822,000. Finally, Andra AP fonden lifted its holdings in A. O. Smith by 31.4% during the 3rd quarter. Andra AP fonden now owns 44,400 shares of the industrial products company’s stock worth $2,370,000 after buying an additional 10,600 shares in the last quarter. Hedge funds and other institutional investors own 77.59% of the company’s stock.
In other A. O. Smith news, SVP Paul R. Dana sold 4,836 shares of the stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $49.50, for a total transaction of $239,382.00. Following the completion of the sale, the senior vice president now directly owns 5,891 shares of the company’s stock, valued at $291,604.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wallace E. Goodwin sold 13,200 shares of the stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $50.02, for a total transaction of $660,264.00. The disclosure for this sale can be found here. Insiders sold a total of 38,036 shares of company stock worth $1,879,646 over the last quarter. Corporate insiders own 1.28% of the company’s stock.
A. O. Smith (NYSE:AOS) last released its earnings results on Tuesday, January 29th. The industrial products company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The firm had revenue of $812.50 million for the quarter, compared to analysts’ expectations of $821.35 million. A. O. Smith had a net margin of 13.93% and a return on equity of 26.00%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. As a group, research analysts anticipate that A. O. Smith Corp will post 2.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Thursday, January 31st will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, January 30th. A. O. Smith’s dividend payout ratio is presently 33.72%.
AOS has been the topic of several research reports. Boenning Scattergood reaffirmed a “buy” rating on shares of A. O. Smith in a report on Tuesday, January 29th. Stephens initiated coverage on A. O. Smith in a research note on Monday, November 19th. They issued an “equal weight” rating and a $50.00 price target on the stock. ValuEngine raised A. O. Smith from a “sell” rating to a “hold” rating in a research note on Wednesday, December 26th. Oppenheimer reissued a “hold” rating on shares of A. O. Smith in a research note on Tuesday, October 30th. Finally, Zacks Investment Research upgraded shares of A. O. Smith from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. A. O. Smith has an average rating of “Hold” and an average price target of $62.56.
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A. O. Smith Company 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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