Smith (A.O.) Corporation (AOS) Holdings Trimmed by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its holdings in shares of Smith (A.O.) Corporation (NYSE:AOS) by 11.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,585,833 shares of the industrial products company’s stock after selling 204,978 shares during the quarter. Wells Fargo & Company MN owned 0.91% of Smith (A.O.) Corporation worth $89,329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AOS. BlackRock Inc. grew its stake in 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 valued at $668,415,000 after purchasing an additional 12,786,787 shares in the last quarter. Janus Capital Management LLC grew its stake in 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 valued at $427,184,000 after purchasing an additional 1,306,490 shares in the last quarter. Alliancebernstein L.P. grew its stake in 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 valued at $188,243,000 after purchasing an additional 1,014,464 shares in the last quarter. State Street Corp grew its stake in 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 valued at $360,634,000 after purchasing an additional 781,403 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Smith (A.O.) Corporation by 97.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,005,561 shares of the industrial products company’s stock valued at $51,444,000 after purchasing an additional 496,832 shares in the last quarter. Hedge funds and other institutional investors own 74.10% of the company’s stock.

Shares of Smith (AOS) opened at 58.17 on Wednesday. Smith has a 52 week low of $43.66 and a 52 week high of $58.24. The company has a market cap of $10.04 billion, a P/E ratio of 29.53 and a beta of 1.49. The firm’s 50-day moving average price is $54.60 and its 200 day moving average price is $53.86.

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

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, July 27th. Smith (A.O.) Corporation’s dividend payout ratio is currently 28.43%.

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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 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 owns 277,465 shares in the company, valued at approximately $14,988,659.30. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.27% of the stock is owned by corporate insiders.

AOS has been the subject of a number of recent analyst reports. Jefferies Group LLC restated a “buy” rating on shares of Smith (A.O.) Corporation in a research note on Friday, July 14th. BidaskClub lowered Smith (A.O.) Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Boenning Scattergood restated a “buy” rating on shares of Smith (A.O.) Corporation in a research note on Wednesday, July 26th. Robert W. Baird set a $61.00 price objective on Smith (A.O.) Corporation and gave the company a “buy” rating in a research note on Thursday, August 24th. Finally, BMO Capital Markets restated a “buy” rating and set a $60.00 price objective on shares of Smith (A.O.) Corporation in a research note on Friday, July 28th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $66.83.

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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