A. O. Smith Corp (NYSE:AOS) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 7,460,000 shares, a drop of 17.0% from the June 15th total of 8,990,000 shares. Approximately 5.7% of the shares of the stock are short sold. Based on an average trading volume of 1,630,000 shares, the days-to-cover ratio is presently 4.6 days.
In related news, Director Ajita G. Rajendra sold 46,000 shares of A. O. Smith stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $49.54, for a total transaction of $2,278,840.00. Following the transaction, the director now owns 135,147 shares in the company, valued at $6,695,182.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Mutual of America Capital Management LLC boosted its holdings in A. O. Smith by 1.3% in the first quarter. Mutual of America Capital Management LLC now owns 19,154 shares of the industrial products company’s stock valued at $724,000 after purchasing an additional 251 shares during the period. Synovus Financial Corp boosted its holdings in A. O. Smith by 9.2% in the first quarter. Synovus Financial Corp now owns 3,509 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 296 shares during the period. Lbmc Investment Advisors LLC boosted its holdings in A. O. Smith by 0.5% in the first quarter. Lbmc Investment Advisors LLC now owns 56,986 shares of the industrial products company’s stock valued at $2,155,000 after purchasing an additional 304 shares during the period. CSat Investment Advisory L.P. boosted its holdings in A. O. Smith by 25.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,577 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 319 shares during the period. Finally, Cim LLC boosted its holdings in A. O. Smith by 2.6% in the fourth quarter. Cim LLC now owns 13,254 shares of the industrial products company’s stock valued at $631,000 after purchasing an additional 339 shares during the period. 80.21% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the company. Robert W. Baird lifted their price objective on A. O. Smith from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Stifel Nicolaus started coverage on A. O. Smith in a research report on Thursday, April 2nd. They set a “buy” rating and a $45.00 price objective on the stock. UBS Group started coverage on A. O. Smith in a research note on Friday, May 29th. They set a “buy” rating and a $54.00 target price for the company. Boenning Scattergood raised A. O. Smith from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 6th. Finally, Cfra cut their target price on A. O. Smith from $39.00 to $32.00 and set a “strong sell” rating for the company in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. A. O. Smith presently has a consensus rating of “Hold” and a consensus target price of $45.00.
Shares of NYSE AOS traded up $0.02 during trading on Tuesday, reaching $48.06. The stock had a trading volume of 340,431 shares, compared to its average volume of 1,184,846. A. O. Smith has a fifty-two week low of $33.81 and a fifty-two week high of $52.70. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 2.06. The business’s 50-day moving average price is $46.53 and its 200-day moving average price is $43.61. The company has a market cap of $7.63 billion, a P/E ratio of 23.78, a PEG ratio of 3.31 and a beta of 1.28.
A. O. Smith (NYSE:AOS) last issued its quarterly earnings data on Tuesday, May 5th. The industrial products company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). A. O. Smith had a net margin of 11.54% and a return on equity of 19.95%. The firm had revenue of $636.90 million during the quarter, compared to analyst estimates of $655.91 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was down 14.9% compared to the same quarter last year. Analysts forecast that A. O. Smith will post 1.79 EPS for the current fiscal year.
A. O. Smith Company Profile
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other 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 filtration products for residences, restaurants, hotels, and offices.
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