Don't bet against AOS---mgmt cost control/reduction efforts are quite agressive and appear to be effective. Employee impact is always a sad result.
Yes, but $2.00 share of EPS equates to a 14 PE forward. Most companies are trading under 10x. There is no reason for this company to trade at a premium to the market when there is no hope for unusual growth since the housing market is nonexistent.
Smith's water heater business is primarily 'replacement and commercial' not new construction and check the China ##s! Same goes for many of their motor customers---lots of replacement/upgrade sales.