Mawer Investment Management Ltd. acquired a new stake in shares of A. O. Smith Corp (NYSE:AOS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 699,355 shares of the industrial products company’s stock, valued at approximately $32,982,000.
Several other large investors also recently made changes to their positions in the company. Ceredex Value Advisors LLC raised its stake in A. O. Smith by 24.6% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,399,504 shares of the industrial products company’s stock valued at $127,941,000 after purchasing an additional 473,546 shares during the period. Wells Fargo & Company MN raised its stake in A. O. Smith by 0.8% during the 1st quarter. Wells Fargo & Company MN now owns 2,111,916 shares of the industrial products company’s stock valued at $112,606,000 after purchasing an additional 17,320 shares during the period. Geode Capital Management LLC raised its stake in A. O. Smith by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 2,057,272 shares of the industrial products company’s stock valued at $87,708,000 after purchasing an additional 115,351 shares during the period. Bessemer Group Inc. raised its stake in A. O. Smith by 46.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,904,654 shares of the industrial products company’s stock valued at $89,824,000 after purchasing an additional 607,109 shares during the period. Finally, Northern Trust Corp raised its stake in A. O. Smith by 0.3% during the 1st quarter. Northern Trust Corp now owns 1,608,026 shares of the industrial products company’s stock valued at $85,739,000 after purchasing an additional 4,873 shares during the period. Institutional investors own 75.44% of the company’s stock.
Shares of NYSE AOS traded down $1.40 during mid-day trading on Friday, reaching $45.06. The company had a trading volume of 16,564 shares, compared to its average volume of 2,660,889. A. O. Smith Corp has a twelve month low of $40.34 and a twelve month high of $61.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.74 and a current ratio of 2.19. The stock has a market capitalization of $7.59 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 2.23 and a beta of 1.54. The stock’s 50 day moving average is $45.16 and its 200-day moving average is $48.74.
A. O. Smith (NYSE:AOS) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.03). A. O. Smith had a return on equity of 24.31% and a net margin of 13.71%. The company had revenue of $765.40 million during the quarter, compared to analyst estimates of $812.29 million. During the same period last year, the company posted $0.61 earnings per share. The company’s revenue was down 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that A. O. Smith Corp will post 2.38 EPS for the current year.
A. O. Smith declared that its board has authorized a share buyback program on Monday, June 3rd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Tuesday, July 30th. A. O. Smith’s dividend payout ratio (DPR) is presently 33.72%.
Several analysts have issued reports on AOS shares. DA Davidson cut their target price on shares of A. O. Smith to $58.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. TheStreet downgraded shares of A. O. Smith from a “b-” rating to a “c+” rating in a research note on Monday, August 5th. Zacks Investment Research downgraded shares of A. O. Smith from a “hold” rating to a “sell” rating and set a $48.00 target price on the stock. in a research note on Wednesday, June 26th. ValuEngine raised shares of A. O. Smith from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Edward Jones downgraded shares of A. O. Smith from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.25.
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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