Principal Financial Group Inc. raised its position in A.O. Smith Corp. (NYSE:AOS) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,874 shares of the company’s stock after buying an additional 17,621 shares during the period. Principal Financial Group Inc. owned about 0.46% of A.O. Smith Corp. worth $35,674,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB acquired a new stake in A.O. Smith Corp. during the second quarter worth approximately $150,000. Daiwa Securities Group Inc. acquired a new stake in A.O. Smith Corp. during the second quarter worth approximately $150,000. Mn Services Vermogensbeheer B.V. acquired a new stake in A.O. Smith Corp. during the second quarter worth approximately $150,000. Meeder Asset Management Inc. increased its stake in A.O. Smith Corp. by 1.0% in the first quarter. Meeder Asset Management Inc. now owns 2,548 shares of the company’s stock worth $195,000 after buying an additional 25 shares during the last quarter. Finally, Timber Hill LLC acquired a new stake in A.O. Smith Corp. during the second quarter worth approximately $201,000. Institutional investors and hedge funds own 76.32% of the company’s stock.
Shares of A.O. Smith Corp. (NYSE:AOS) traded up 0.90% on Wednesday, reaching $94.12. 60,050 shares of the company were exchanged. A.O. Smith Corp. has a 12 month low of $60.30 and a 12 month high of $98.38. The stock has a 50 day moving average price of $94.36 and a 200-day moving average price of $84.85. The stock has a market capitalization of $8.21 billion, a P/E ratio of 26.66 and a beta of 1.49. Shares of A.O. Smith Corp. are scheduled to split on the morning of Thursday, October 6th. The 2-1 split was announced on Wednesday, September 7th. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, October 5th.
A.O. Smith Corp. (NYSE:AOS) last issued its earnings results on Tuesday, July 26th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The company had revenue of $667 million for the quarter, compared to analyst estimates of $696.69 million. A.O. Smith Corp. had a net margin of 12.23% and a return on equity of 21.57%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. On average, equities analysts expect that A.O. Smith Corp. will post $3.63 EPS for the current fiscal year.
A number of research firms recently commented on AOS. Zacks Investment Research upgraded shares of A.O. Smith Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 15th. BMO Capital Markets set a $106.00 target price on shares of A.O. Smith Corp. and gave the stock a “buy” rating in a report on Monday, August 8th. SunTrust Banks Inc. dropped their target price on shares of A.O. Smith Corp. from $103.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, July 14th. Finally, Longbow Research initiated coverage on shares of A.O. Smith Corp. in a report on Friday, June 17th. They set a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. A.O. Smith Corp. presently has a consensus rating of “Buy” and a consensus target price of $88.71.
In related news, Director Mark D. Smith sold 1,146 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $93.76, for a total value of $107,448.96. Following the sale, the director now directly owns 54,850 shares in the company, valued at approximately $5,142,736. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wilfridus M. Brouwer sold 6,200 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $93.29, for a total transaction of $578,398.00. Following the completion of the sale, the insider now owns 19,449 shares in the company, valued at $1,814,397.21. The disclosure for this sale can be found here. 1.76% of the stock is currently owned by insiders.
A.O. Smith Corp. Company Profile
A. O. Smith Corporation operates its business through two segments, which include North America and Rest of World. The Company’s Rest of World segment primarily comprises China, Europe and India. The Rest of World segment supplies water heaters to the residential market in China with a range of product offering, including electric, gas, gas tankless, heat pump and solar units, as well as combi boilers.
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