TimesSquare Capital Management LLC Reduces Position in Smith (A.O.) Corporation (AOS)

TimesSquare Capital Management LLC lessened its holdings in shares of Smith (A.O.) Corporation (NYSE:AOS) by 23.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 457,000 shares of the industrial products company’s stock after selling 138,100 shares during the period. TimesSquare Capital Management LLC owned 0.26% of Smith (A.O.) Corporation worth $25,743,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AOS. Sumitomo Mitsui Asset Management Company LTD grew its stake in Smith (A.O.) Corporation by 16.7% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,728 shares of the industrial products company’s stock valued at $600,000 after acquiring an additional 1,679 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Smith (A.O.) Corporation by 1.4% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,961 shares of the industrial products company’s stock valued at $1,124,000 after acquiring an additional 297 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Smith (A.O.) Corporation by 5.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 118,257 shares of the industrial products company’s stock valued at $6,046,000 after acquiring an additional 6,389 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Smith (A.O.) Corporation by 1.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 458,184 shares of the industrial products company’s stock valued at $23,441,000 after acquiring an additional 6,879 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Smith (A.O.) Corporation by 13.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the industrial products company’s stock valued at $215,000 after acquiring an additional 500 shares in the last quarter. 74.10% of the stock is owned by institutional investors.

Several analysts recently issued reports on the stock. 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. Boenning Scattergood reiterated a “buy” rating on shares of Smith (A.O.) Corporation in a report on Wednesday, July 26th. BidaskClub lowered shares of Smith (A.O.) Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. BMO Capital Markets reiterated a “buy” rating and issued a $60.00 target price on shares of Smith (A.O.) Corporation in a report on Friday, July 28th. Finally, Robert W. Baird set a $61.00 target price on shares of Smith (A.O.) Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $66.83.

Smith (NYSE:AOS) opened at 56.52 on Monday. Smith has a one year low of $43.66 and a one year high of $57.97. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 28.69 and a beta of 1.49. The stock has a 50 day moving average of $54.55 and a 200 day moving average of $53.76.

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

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were issued a $0.14 dividend. The ex-dividend date was Thursday, July 27th. This represents a $0.56 dividend on an annualized basis and a yield of 0.99%. Smith (A.O.) Corporation’s payout ratio is 28.43%.

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In related news, Director Paul W. Jones sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $54.02, for a total value of $3,241,200.00. Following the completion of the sale, the director now directly owns 277,465 shares in the company, valued at $14,988,659.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.27% of the stock is currently owned by insiders.

Smith (A.O.) Corporation 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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