Smith (A.O.) Corporation (AOS) Lowered to Buy at BidaskClub

BidaskClub lowered shares of Smith (A.O.) Corporation (NYSE:AOS) from a strong-buy rating to a buy rating in a report published on Monday, July 24th.

Several other research analysts have also recently commented on AOS. Jefferies Group LLC set a $60.00 target price on shares of Smith (A.O.) Corporation and gave the stock a buy rating in a report on Thursday, June 1st. KeyCorp reaffirmed a sector weight rating on shares of Smith (A.O.) Corporation in a report on Friday, April 28th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Smith (A.O.) Corporation from a hold rating to a buy rating and set a $57.00 target price on the stock in a report on Thursday, April 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $68.00.

Smith (NYSE AOS) traded down 0.17% during mid-day trading on Monday, reaching $53.93. The company’s stock had a trading volume of 966,018 shares. The firm’s 50 day moving average price is $55.45 and its 200 day moving average price is $53.20. The firm has a market capitalization of $9.30 billion, a P/E ratio of 27.38 and a beta of 1.51. Smith has a 52 week low of $43.66 and a 52 week high of $57.97.

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

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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a dividend of $0.14 per share. The ex-dividend date was Thursday, July 27th. This represents a $0.56 annualized dividend and a dividend yield of 1.04%. Smith (A.O.) Corporation’s dividend payout ratio is 28.43%.

In related news, Director Ronald D. Brown sold 8,000 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $54.25, for a total transaction of $434,000.00. Following the sale, the director now owns 43,896 shares in the company, valued at approximately $2,381,358. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James F. Stern sold 25,200 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $54.45, for a total transaction of $1,372,140.00. Following the sale, the vice president now owns 176,583 shares in the company, valued at approximately $9,614,944.35. The disclosure for this sale can be found here. Insiders have sold a total of 105,400 shares of company stock worth $5,734,444 in the last quarter. 1.27% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of AOS. Korea Investment CORP bought a new stake in shares of Smith (A.O.) Corporation during the first quarter worth $102,000. Toronto Dominion Bank raised its position in shares of Smith (A.O.) Corporation by 11.8% in the second quarter. Toronto Dominion Bank now owns 1,807 shares of the industrial products company’s stock worth $102,000 after buying an additional 191 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Smith (A.O.) Corporation by 973.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,825 shares of the industrial products company’s stock worth $103,000 after buying an additional 1,655 shares during the period. CENTRAL TRUST Co raised its position in shares of Smith (A.O.) Corporation by 3.7% in the second quarter. CENTRAL TRUST Co now owns 1,866 shares of the industrial products company’s stock worth $105,000 after buying an additional 66 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Smith (A.O.) Corporation by 6.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,986 shares of the industrial products company’s stock worth $112,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 74.89% of the company’s stock.

About Smith (A.O.) Corporation

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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