Virtu Financial LLC Sells 7,288 Shares of A. O. Smith Corporation (NYSE:AOS)

Key Points

• Virtu Financial LLC reduced its holdings in A. O. Smith Corporation by 41.1%, selling 7,288 shares to hold a total of 10,459 shares worth $684,000.
• The company's recent quarterly earnings exceeded estimates, reporting $1.07 EPS on $1.01 billion in revenue, despite a 1.3% decline compared to last year.
• A. O. Smith announced a $0.34 per share quarterly dividend, representing a 1.9% dividend yield, to be paid on August 15th.

Virtu Financial LLC decreased its holdings in shares of A. O. Smith Corporation (NYSE:AOS - Free Report) by 41.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,459 shares of the industrial products company's stock after selling 7,288 shares during the period. Virtu Financial LLC's holdings in A. O. Smith were worth $684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AOS. Impax Asset Management Group plc raised its position in A. O. Smith by 67.3% during the 1st quarter. Impax Asset Management Group plc now owns 5,188,561 shares of the industrial products company's stock valued at $339,124,000 after purchasing an additional 2,086,433 shares during the last quarter. Sarasin & Partners LLP bought a new position in A. O. Smith during the 1st quarter valued at approximately $74,180,000. Voloridge Investment Management LLC raised its position in A. O. Smith by 242.8% during the 4th quarter. Voloridge Investment Management LLC now owns 627,282 shares of the industrial products company's stock valued at $42,787,000 after purchasing an additional 444,307 shares during the last quarter. First Trust Advisors LP raised its position in A. O. Smith by 19.0% during the 4th quarter. First Trust Advisors LP now owns 2,618,191 shares of the industrial products company's stock valued at $178,587,000 after purchasing an additional 417,595 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in A. O. Smith by 4,238.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 383,195 shares of the industrial products company's stock valued at $25,046,000 after purchasing an additional 374,363 shares during the last quarter. Institutional investors own 76.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AOS shares. Stifel Nicolaus upped their target price on A. O. Smith from $78.00 to $81.00 and gave the stock a "buy" rating in a report on Monday, July 21st. UBS Group reiterated a "neutral" rating and set a $76.00 target price (up previously from $74.00) on shares of A. O. Smith in a report on Monday, July 28th. Robert W. Baird upped their target price on A. O. Smith from $76.00 to $82.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. JPMorgan Chase & Co. began coverage on A. O. Smith in a report on Tuesday, June 24th. They set a "neutral" rating and a $70.00 target price on the stock. Finally, Weiss Ratings restated a "hold (c)" rating on shares of A. O. Smith in a research note on Tuesday, July 29th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $77.43.

A. O. Smith Price Performance

NYSE AOS opened at $71.38 on Wednesday. The business's fifty day moving average price is $67.84 and its 200-day moving average price is $66.76. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.53 and a beta of 1.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.65 and a quick ratio of 1.03. A. O. Smith Corporation has a 1-year low of $58.83 and a 1-year high of $92.06.

A. O. Smith (NYSE:AOS - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.10. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $997.89 million. A. O. Smith had a return on equity of 28.42% and a net margin of 13.68%. A. O. Smith's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 EPS. On average, equities analysts predict that A. O. Smith Corporation will post 3.76 earnings per share for the current year.

A. O. Smith Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, July 31st. A. O. Smith's payout ratio is currently 37.88%.

Insider Buying and Selling at A. O. Smith

In other news, Chairman Kevin J. Wheeler sold 22,200 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $71.26, for a total value of $1,581,972.00. Following the completion of the sale, the chairman owned 100,647 shares of the company's stock, valued at approximately $7,172,105.22. This represents a 18.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.76% 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, 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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