Exane Asset Management bought a new position in shares of A. O. Smith Corp (NYSE:AOS) in the 3rd quarter, Holdings Channel reports. The fund bought 4,654 shares of the industrial products company’s stock, valued at approximately $248,000.
A number of other hedge funds and other institutional investors have also modified their holdings of AOS. Morgan Stanley increased its stake in shares of A. O. Smith by 531.8% in the second quarter. Morgan Stanley now owns 3,478,281 shares of the industrial products company’s stock valued at $205,741,000 after buying an additional 2,927,749 shares during the period. Millennium Management LLC acquired a new position in shares of A. O. Smith in the second quarter valued at approximately $54,005,000. DF Dent & Co. Inc. acquired a new position in shares of A. O. Smith in the third quarter valued at approximately $33,723,000. Brown Advisory Inc. increased its stake in shares of A. O. Smith by 11.6% in the third quarter. Brown Advisory Inc. now owns 5,170,181 shares of the industrial products company’s stock valued at $275,932,000 after buying an additional 537,803 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new position in shares of A. O. Smith in the third quarter valued at approximately $26,681,000. 77.01% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on AOS. BMO Capital Markets lowered their price objective on A. O. Smith from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Wednesday, October 31st. Robert W. Baird lowered their price objective on A. O. Smith from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, October 10th. Goldman Sachs Group began coverage on A. O. Smith in a research note on Tuesday, October 2nd. They issued a “sell” rating and a $50.00 price objective for the company. Stephens began coverage on A. O. Smith in a research note on Monday, November 19th. They issued an “equal weight” rating and a $50.00 price objective for the company. Finally, Zacks Investment Research downgraded A. O. Smith from a “hold” rating to a “sell” rating in a research note on Monday, November 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. A. O. Smith presently has a consensus rating of “Hold” and a consensus target price of $64.00.
A. O. Smith (NYSE:AOS) last released its earnings results on Tuesday, October 30th. The industrial products company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.02). The firm had revenue of $754.10 million for the quarter, compared to analyst estimates of $805.92 million. A. O. Smith had a net margin of 10.83% and a return on equity of 24.98%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. On average, sell-side analysts expect that A. O. Smith Corp will post 2.58 EPS for the current year.
In other A. O. Smith news, Director Paul W. Jones sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $45.99, for a total transaction of $413,910.00. Following the completion of the sale, the director now owns 200,967 shares of the company’s stock, valued at approximately $9,242,472.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.28% of the company’s stock.
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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