Goldman Sachs Group Inc. Reduces Stake in Smith (A.O.) Corporation (AOS)

Goldman Sachs Group Inc. decreased its stake in shares of Smith (A.O.) Corporation (NYSE:AOS) by 15.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,905,340 shares of the industrial products company’s stock after selling 339,024 shares during the period. Goldman Sachs Group Inc. owned 1.10% of Smith (A.O.) Corporation worth $97,478,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Korea Investment CORP acquired a new stake in Smith (A.O.) Corporation during the first quarter valued at about $102,000. Van ECK Associates Corp raised its stake in Smith (A.O.) Corporation by 7.0% in the first quarter. Van ECK Associates Corp now owns 2,226 shares of the industrial products company’s stock valued at $114,000 after buying an additional 145 shares in the last quarter. Creative Planning raised its stake in Smith (A.O.) Corporation by 130.9% in the first quarter. Creative Planning now owns 2,949 shares of the industrial products company’s stock valued at $151,000 after buying an additional 1,672 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Smith (A.O.) Corporation by 0.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,246 shares of the industrial products company’s stock valued at $166,000 after buying an additional 22 shares in the last quarter. Finally, FTB Advisors Inc. raised its stake in Smith (A.O.) Corporation by 100.0% in the first quarter. FTB Advisors Inc. now owns 3,500 shares of the industrial products company’s stock valued at $179,000 after buying an additional 1,750 shares in the last quarter. 75.22% of the stock is owned by institutional investors.

Smith (AOS) opened at 57.61 on Tuesday. The stock has a market cap of $9.97 billion, a P/E ratio of 29.70 and a beta of 1.53. Smith has a 12-month low of $43.66 and a 12-month high of $57.97. The stock has a 50 day moving average price of $55.43 and a 200 day moving average price of $51.45.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.97%. Smith (A.O.) Corporation’s dividend payout ratio is presently 29.02%.

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AOS has been the topic of a number of research reports. Zacks Investment Research upgraded Smith (A.O.) Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Tuesday, April 4th. KeyCorp restated a “sector weight” rating on shares of Smith (A.O.) Corporation in a research report on Friday, April 28th. They noted that the move was a valuation call. Finally, Jefferies Group LLC set a $60.00 price target on Smith (A.O.) Corporation and gave the company a “buy” rating in a research report on Thursday, June 1st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $65.40.

In other news, Director Ronald D. Brown sold 8,000 shares of Smith (A.O.) Corporation stock in a transaction 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 completion of the sale, the director now directly owns 43,896 shares in the company, valued at $2,381,358. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert J. Heideman sold 30,141 shares of Smith (A.O.) Corporation stock in a transaction on Monday, May 1st. The stock was sold at an average price of $53.90, for a total transaction of $1,624,599.90. Following the sale, the vice president now owns 39,495 shares of the company’s stock, valued at $2,128,780.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,928 shares of company stock worth $7,960,678. Insiders own 1.27% 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.

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

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