Nissay Asset Management Corp Japan ADV Acquires 82,241 Shares of A. O. Smith Corp (AOS)

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Nissay Asset Management Corp Japan ADV raised its holdings in A. O. Smith Corp (NYSE:AOS) by 126.1% in the third quarter, HoldingsChannel.com reports. The firm owned 147,447 shares of the industrial products company’s stock after purchasing an additional 82,241 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in A. O. Smith were worth $7,869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Dudley & Shanley Inc. boosted its holdings in A. O. Smith by 957.0% in the 3rd quarter. Dudley & Shanley Inc. now owns 417,994 shares of the industrial products company’s stock valued at $22,308,000 after purchasing an additional 378,450 shares during the period. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in A. O. Smith in the 3rd quarter valued at about $1,094,000. OLD National Bancorp IN boosted its holdings in A. O. Smith by 11.0% in the 3rd quarter. OLD National Bancorp IN now owns 19,151 shares of the industrial products company’s stock valued at $1,022,000 after purchasing an additional 1,898 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of A. O. Smith by 5.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 98,263 shares of the industrial products company’s stock worth $5,244,000 after acquiring an additional 4,737 shares during the period. Finally, Congress Asset Management Co. MA lifted its holdings in shares of A. O. Smith by 0.3% during the 3rd quarter. Congress Asset Management Co. MA now owns 855,099 shares of the industrial products company’s stock worth $45,637,000 after acquiring an additional 2,650 shares during the period. 75.40% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the stock. Oppenheimer reaffirmed a “hold” rating on shares of A. O. Smith in a report on Tuesday. Zacks Investment Research downgraded shares of A. O. Smith from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. BMO Capital Markets cut their price target on shares of A. O. Smith to $66.00 and set an “outperform” rating for the company in a report on Wednesday. Robert W. Baird cut their price target on shares of A. O. Smith from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, October 10th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $71.00 price target on shares of A. O. Smith in a report on Thursday, July 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $65.75.

In related news, Director Paul W. Jones sold 4,591 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $58.92, for a total transaction of $270,501.72. Following the completion of the transaction, the director now directly owns 214,558 shares in the company, valued at approximately $12,641,757.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.28% of the stock is owned by corporate insiders.

Shares of A. O. Smith stock opened at $45.72 on Wednesday. A. O. Smith Corp has a 1-year low of $40.34 and a 1-year high of $68.39. The company has a quick ratio of 1.77, a current ratio of 2.15 and a debt-to-equity ratio of 0.14. The company has a market cap of $7.46 billion, a PE ratio of 21.07, a PEG ratio of 1.37 and a beta of 1.43.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.02). A. O. Smith had a return on equity of 24.67% and a net margin of 10.50%. The firm had revenue of $754.10 million for the quarter, compared to the consensus estimate of $805.92 million. During the same period last year, the company posted $0.54 EPS. The business’s revenue was up .6% on a year-over-year basis. On average, research analysts forecast that A. O. Smith Corp will post 2.61 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.92%. This is a boost from A. O. Smith’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, October 30th. A. O. Smith’s dividend payout ratio is currently 33.18%.

About A. O. Smith

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for use in space heating applications for hospitals, schools, hotels, and other large 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 filtrations products for residences, restaurants, hotels, and offices.

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Want to see what other hedge funds are holding AOS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for A. O. Smith Corp (NYSE:AOS).

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

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