Cigna Investments Inc. New Takes Position in A. O. Smith Corp (NYSE:AOS)

Cigna Investments Inc. New acquired a new position in A. O. Smith Corp (NYSE:AOS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,104 shares of the industrial products company’s stock, valued at approximately $218,000.

Other large investors have also modified their holdings of the company. Bremer Bank National Association acquired a new stake in shares of A. O. Smith in the first quarter valued at about $25,000. Bremer Trust National Association acquired a new stake in shares of A. O. Smith in the fourth quarter valued at about $26,000. Huntington National Bank raised its position in shares of A. O. Smith by 82.2% in the first quarter. Huntington National Bank now owns 512 shares of the industrial products company’s stock valued at $27,000 after buying an additional 231 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of A. O. Smith in the first quarter valued at about $29,000. Finally, Signaturefd LLC raised its position in shares of A. O. Smith by 67.6% in the first quarter. Signaturefd LLC now owns 538 shares of the industrial products company’s stock valued at $29,000 after buying an additional 217 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Several research firms recently issued reports on AOS. Zacks Investment Research cut shares of A. O. Smith from a “hold” rating to a “sell” rating and set a $48.00 price objective for the company. in a research report on Wednesday. DA Davidson cut their price objective on shares of A. O. Smith to $58.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Edward Jones cut shares of A. O. Smith from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. ValuEngine cut shares of A. O. Smith from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Finally, Boenning Scattergood lowered shares of A. O. Smith from an “outperform” rating to a “neutral” rating and set a $52.98 target price for the company. in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $56.11.

In other news, VP Paul R. Dana sold 9,010 shares of A. O. Smith stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $52.76, for a total value of $475,367.60. Following the transaction, the vice president now directly owns 14,912 shares of the company’s stock, valued at approximately $786,757.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul W. Jones sold 1,000 shares of A. O. Smith stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $49.50, for a total transaction of $49,500.00. Following the completion of the transaction, the director now directly owns 182,266 shares in the company, valued at $9,022,167. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,010 shares of company stock worth $944,468. 1.03% of the stock is owned by corporate insiders.

Shares of NYSE AOS traded up $1.08 during midday trading on Friday, hitting $47.16. The company’s stock had a trading volume of 1,581,057 shares, compared to its average volume of 1,779,069. A. O. Smith Corp has a 1 year low of $40.34 and a 1 year high of $61.44. The company’s fifty day moving average price is $44.83. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.25 and a quick ratio of 1.82. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 1.97 and a beta of 1.50.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.04). A. O. Smith had a return on equity of 25.01% and a net margin of 13.81%. The firm had revenue of $748.20 million during the quarter, compared to analysts’ expectations of $764.16 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. As a group, equities analysts forecast that A. O. Smith Corp will post 2.69 EPS for the current fiscal year.

A. O. Smith announced that its Board of Directors has approved a stock repurchase program on Monday, June 3rd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

A. O. Smith Profile

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other 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 filtration products for residences, restaurants, hotels, and offices.

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Institutional Ownership by Quarter for A. O. Smith (NYSE:AOS)

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