BMO Capital Markets Reiterates Buy Rating for Smith (A.O.) Corporation (NYSE:AOS)

BMO Capital Markets restated their buy rating on shares of Smith (A.O.) Corporation (NYSE:AOS) in a research note issued to investors on Wednesday, September 6th. BMO Capital Markets currently has a $60.00 target price on the industrial products company’s stock.

AOS has been the topic of a number of other research reports. Jefferies Group LLC reaffirmed a buy rating on shares of Smith (A.O.) Corporation in a research note on Friday, July 14th. BidaskClub lowered Smith (A.O.) Corporation from a buy rating to a hold rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered Smith (A.O.) Corporation from a buy rating to a hold rating in a research note on Monday, July 31st. Robert W. Baird set a $61.00 price target on Smith (A.O.) Corporation and gave the stock a buy rating in a research note on Thursday, August 24th. Finally, Stifel Nicolaus reissued a hold rating and set a $56.00 price target on shares of Smith (A.O.) Corporation in a research note on Friday, August 11th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $66.83.

Smith (AOS) opened at 57.95 on Wednesday. The stock has a market cap of $10.00 billion, a P/E ratio of 29.42 and a beta of 1.49. The firm’s 50-day moving average price is $54.68 and its 200-day moving average price is $53.91. Smith has a 12 month low of $43.66 and a 12 month high of $58.27.

Smith (A.O.) Corporation (NYSE:AOS) last released its earnings results on Wednesday, July 26th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The company had revenue of $738.20 million for the quarter, compared to analysts’ expectations of $729.33 million. Smith (A.O.) Corporation had a return on equity of 22.25% and a net margin of 12.10%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, analysts predict that Smith will post $2.11 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Thursday, July 27th. Smith (A.O.) Corporation’s dividend payout ratio is 28.43%.

In related news, Director Paul W. Jones sold 60,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $54.02, for a total transaction of $3,241,200.00. Following the transaction, the director now directly owns 277,465 shares of the company’s stock, valued at $14,988,659.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.27% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Korea Investment CORP bought a new stake in shares of Smith (A.O.) Corporation during the 1st quarter valued at approximately $102,000. Russell Investments Group Ltd. grew its holdings in shares of Smith (A.O.) Corporation by 6.1% during the 1st quarter. Russell Investments Group Ltd. now owns 340,207 shares of the industrial products company’s stock valued at $17,405,000 after purchasing an additional 19,653 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Smith (A.O.) Corporation by 16.7% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,728 shares of the industrial products company’s stock valued at $600,000 after purchasing an additional 1,679 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Smith (A.O.) Corporation by 1.4% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,961 shares of the industrial products company’s stock valued at $1,124,000 after purchasing an additional 297 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in Smith (A.O.) Corporation by 5.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 118,257 shares of the industrial products company’s stock worth $6,046,000 after buying an additional 6,389 shares during the period. 74.10% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Smith (A.O.) Corporation (NYSE:AOS)

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