HBK Sorce Advisory LLC Trims Stake in A. O. Smith Co. (NYSE:AOS)

HBK Sorce Advisory LLC cut its position in shares of A. O. Smith Co. (NYSE:AOS) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,757 shares of the industrial products company’s stock after selling 359 shares during the period. HBK Sorce Advisory LLC’s holdings in A. O. Smith were worth $716,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Isthmus Partners LLC purchased a new position in A. O. Smith in the 2nd quarter worth about $27,000. Versant Capital Management Inc boosted its holdings in shares of A. O. Smith by 157.2% in the second quarter. Versant Capital Management Inc now owns 463 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 283 shares during the period. ORG Partners LLC grew its stake in A. O. Smith by 665.0% in the first quarter. ORG Partners LLC now owns 612 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 532 shares in the last quarter. Twin Tree Management LP increased its holdings in A. O. Smith by 188.9% during the 1st quarter. Twin Tree Management LP now owns 737 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 1,566 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in A. O. Smith during the 1st quarter valued at $109,000. 76.10% of the stock is currently owned by institutional investors.

A. O. Smith Stock Up 0.7 %

A. O. Smith stock opened at $79.97 on Friday. A. O. Smith Co. has a 1-year low of $64.14 and a 1-year high of $92.44. The business has a fifty day moving average price of $82.36 and a 200-day moving average price of $84.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.70 and a quick ratio of 1.07. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 2.14 and a beta of 1.15.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). A. O. Smith had a return on equity of 31.04% and a net margin of 14.67%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the business posted $1.01 EPS. A. O. Smith’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts forecast that A. O. Smith Co. will post 4.07 EPS for the current fiscal year.

A. O. Smith Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.32 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.28 dividend on an annualized basis and a yield of 1.60%. A. O. Smith’s payout ratio is 33.16%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AOS shares. Stifel Nicolaus upgraded shares of A. O. Smith from a “hold” rating to a “buy” rating and increased their target price for the stock from $97.00 to $98.00 in a report on Wednesday, July 24th. StockNews.com raised shares of A. O. Smith from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. UBS Group increased their target price on A. O. Smith from $73.00 to $75.00 and gave the company a “sell” rating in a research report on Monday, July 8th. Finally, Robert W. Baird reduced their price target on A. O. Smith from $92.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.67.

Insiders Place Their Bets

In other news, SVP Samuel M. Carver sold 14,705 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $81.00, for a total transaction of $1,191,105.00. Following the sale, the senior vice president now directly owns 2,399 shares of the company’s stock, valued at $194,319. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.70% of the company’s stock.

A. O. Smith Profile

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.