Advisor Group Inc. raised its position in shares of A. O. Smith Corp (NYSE:AOS) by 18.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,254 shares of the industrial products company’s stock after acquiring an additional 5,043 shares during the period. Advisor Group Inc.’s holdings in A. O. Smith were worth $1,718,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bremer Trust National Association bought a new stake in shares of A. O. Smith during the 4th quarter worth about $26,000. Huntington National Bank boosted its holdings in shares of A. O. Smith by 82.2% during the 1st quarter. Huntington National Bank now owns 512 shares of the industrial products company’s stock worth $27,000 after buying an additional 231 shares during the period. Penserra Capital Management LLC bought a new stake in shares of A. O. Smith during the 1st quarter worth about $29,000. Signaturefd LLC boosted its holdings in shares of A. O. Smith by 67.6% during the 1st quarter. Signaturefd LLC now owns 538 shares of the industrial products company’s stock worth $29,000 after buying an additional 217 shares during the period. Finally, Quantamental Technologies LLC bought a new stake in shares of A. O. Smith during the 4th quarter worth about $33,000. 75.08% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on AOS. Zacks Investment Research raised shares of A. O. Smith from a “sell” rating to a “hold” rating and set a $46.00 price objective for the company in a report on Thursday, May 23rd. Robert W. Baird boosted their price objective on shares of A. O. Smith from $56.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Boenning Scattergood cut 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 report on Wednesday, May 1st. DA Davidson dropped their target price 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. Finally, ValuEngine cut shares of A. O. Smith from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. A. O. Smith has an average rating of “Hold” and an average price target of $56.11.
A. O. Smith (NYSE:AOS) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.04). A. O. Smith had a net margin of 13.81% and a return on equity of 25.01%. The firm had revenue of $748.20 million during the quarter, compared to the consensus estimate of $764.16 million. During the same period in the prior year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that A. O. Smith Corp will post 2.69 earnings per share for the current year.
A. O. Smith announced that its Board of Directors has approved a stock buyback plan on Monday, June 3rd that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other A. O. Smith news, Director Paul W. Jones sold 1,000 shares of the company’s 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 transaction, the director now owns 182,266 shares in the company, valued at $9,022,167. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Paul R. Dana sold 9,010 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $52.76, for a total transaction of $475,367.60. Following the completion of the sale, the vice president now owns 14,912 shares of the company’s stock, valued at approximately $786,757.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,010 shares of company stock worth $944,468. Insiders own 1.03% of the company’s stock.
A. O. Smith Company 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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