Smith (A.O.) Corporation (AOS) Stake Boosted by Barings LLC

Barings LLC boosted its position in Smith (A.O.) Corporation (NYSE:AOS) by 97.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 131,436 shares of the industrial products company’s stock after buying an additional 64,936 shares during the period. Barings LLC owned about 0.08% of Smith (A.O.) Corporation worth $6,724,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Smith (A.O.) Corporation by 2.7% in the first quarter. Vanguard Group Inc. now owns 13,458,672 shares of the industrial products company’s stock worth $688,546,000 after buying an additional 352,139 shares in the last quarter. BlackRock Inc. boosted its position in Smith (A.O.) Corporation by 4,592.7% in the first quarter. BlackRock Inc. now owns 13,065,205 shares of the industrial products company’s stock worth $668,415,000 after buying an additional 12,786,787 shares in the last quarter. FMR LLC boosted its position in Smith (A.O.) Corporation by 110.9% in the fourth quarter. FMR LLC now owns 7,406,450 shares of the industrial products company’s stock worth $350,695,000 after buying an additional 3,893,815 shares in the last quarter. State Street Corp boosted its position in Smith (A.O.) Corporation by 12.5% in the first quarter. State Street Corp now owns 7,049,020 shares of the industrial products company’s stock worth $360,634,000 after buying an additional 781,403 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Smith (A.O.) Corporation by 38.1% in the first quarter. Alliancebernstein L.P. now owns 3,679,499 shares of the industrial products company’s stock worth $188,243,000 after buying an additional 1,014,464 shares in the last quarter. 75.68% of the stock is owned by hedge funds and other institutional investors.

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

Smith (NYSE AOS) traded down 1.27% during midday trading on Tuesday, reaching $56.79. 582,299 shares of the company’s stock traded hands. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 29.27 and a beta of 1.52. The firm’s 50-day moving average is $54.96 and its 200-day moving average is $51.11. Smith has a 1-year low of $40.51 and a 1-year high of $57.58.

Smith (A.O.) Corporation (NYSE:AOS) last posted its quarterly earnings data on Thursday, April 27th. The industrial products company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. Smith (A.O.) Corporation had a net margin of 12.22% and a return on equity of 22.39%. The business had revenue of $740 million during the quarter, compared to analyst estimates of $698.38 million. During the same quarter last year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. Analysts forecast that Smith will post $2.10 earnings per share for the current year.

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AOS has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Smith (A.O.) Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Tuesday, April 4th. KeyCorp reaffirmed a “sector weight” rating on shares of Smith (A.O.) Corporation in a research note on Friday, April 28th. They noted that the move was a valuation call. Finally, Jefferies Group LLC set a $60.00 price target on shares of Smith (A.O.) Corporation and gave the stock a “buy” rating in a research note on Thursday, June 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $62.00.

In other news, insider Mark A. Petrarca sold 20,800 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $53.88, for a total value of $1,120,704.00. Following the completion of the transaction, the insider now owns 103,449 shares of the company’s stock, valued at $5,573,832.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert J. Heideman sold 30,141 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $53.90, for a total transaction of $1,624,599.90. Following the completion of the transaction, the vice president now directly owns 39,495 shares of the company’s stock, valued at approximately $2,128,780.50. The disclosure for this sale can be found here. In the last three months, insiders sold 145,928 shares of company stock valued at $7,960,678. Insiders own 1.27% of the company’s stock.

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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