Seven Eight Capital LP Acquires 4,496 Shares of A. O. Smith Co. (NYSE:AOS)

Seven Eight Capital LP increased its holdings in shares of A. O. Smith Co. (NYSE:AOSFree Report) by 47.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,902 shares of the industrial products company’s stock after purchasing an additional 4,496 shares during the quarter. Seven Eight Capital LP’s holdings in A. O. Smith were worth $919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. lifted its holdings in A. O. Smith by 4.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,230 shares of the industrial products company’s stock valued at $214,000 after acquiring an additional 145 shares during the period. Avantax Advisory Services Inc. lifted its holdings in A. O. Smith by 3.2% in the third quarter. Avantax Advisory Services Inc. now owns 4,762 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 148 shares during the period. Tower Research Capital LLC TRC lifted its holdings in A. O. Smith by 4.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,105 shares of the industrial products company’s stock valued at $299,000 after acquiring an additional 162 shares during the period. First Republic Investment Management Inc. increased its position in A. O. Smith by 1.5% in the second quarter. First Republic Investment Management Inc. now owns 11,922 shares of the industrial products company’s stock worth $652,000 after buying an additional 172 shares in the last quarter. Finally, Ellevest Inc. increased its position in A. O. Smith by 5.7% in the second quarter. Ellevest Inc. now owns 3,339 shares of the industrial products company’s stock worth $243,000 after buying an additional 179 shares in the last quarter. Institutional investors own 74.48% of the company’s stock.

Insider Activity

In other news, Director Ajita G. Rajendra sold 60,258 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $84.51, for a total value of $5,092,403.58. Following the completion of the sale, the director now directly owns 56,951 shares of the company’s stock, valued at approximately $4,812,929.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ajita G. Rajendra sold 60,258 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $84.51, for a total transaction of $5,092,403.58. Following the completion of the sale, the director now directly owns 56,951 shares of the company’s stock, valued at approximately $4,812,929.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ajita G. Rajendra sold 24,669 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $83.02, for a total value of $2,048,020.38. Following the sale, the director now directly owns 56,951 shares of the company’s stock, valued at $4,728,072.02. The disclosure for this sale can be found here. Insiders sold 95,631 shares of company stock valued at $8,042,535 in the last ninety days. Insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AOS. StockNews.com cut A. O. Smith from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Northcoast Research upgraded A. O. Smith from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Tuesday, December 12th. Stifel Nicolaus upped their price target on A. O. Smith from $74.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, December 19th. Finally, Citigroup increased their target price on A. O. Smith from $76.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, December 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.40.

Check Out Our Latest Research Report on A. O. Smith

A. O. Smith Price Performance

Shares of A. O. Smith stock opened at $86.65 on Friday. The stock has a 50 day moving average of $80.93 and a 200 day moving average of $75.23. A. O. Smith Co. has a 12 month low of $63.40 and a 12 month high of $86.81. The firm has a market cap of $12.75 billion, a PE ratio of 23.42, a PEG ratio of 2.31 and a beta of 1.25. The company has a current ratio of 1.59, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06.

A. O. Smith (NYSE:AOSGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $988.10 million during the quarter, compared to analyst estimates of $985.89 million. A. O. Smith had a return on equity of 31.05% and a net margin of 14.45%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. On average, research analysts expect that A. O. Smith Co. will post 4.07 EPS for the current fiscal year.

A. O. Smith Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, January 30th. A. O. Smith’s payout ratio is 34.59%.

About A. O. Smith

(Free Report)

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels, office buildings, laundries, car washes, and small businesses; boilers for hospitals, schools, hotels, and other large commercial buildings, as well as homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, and point-of-use carbon and reverse osmosis products for residences, restaurants, hotels, and offices.

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

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