Nomura Asset Management Co. Ltd. grew its position in shares of A. O. Smith Corp (NYSE:AOS) by 46.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 415,673 shares of the industrial products company’s stock after purchasing an additional 131,140 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.26% of A. O. Smith worth $15,717,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC boosted its holdings in A. O. Smith by 1.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 19,154 shares of the industrial products company’s stock worth $724,000 after acquiring an additional 251 shares during the last quarter. Synovus Financial Corp increased its position in shares of A. O. Smith by 9.2% during the first quarter. Synovus Financial Corp now owns 3,509 shares of the industrial products company’s stock valued at $133,000 after buying an additional 296 shares during the period. Lbmc Investment Advisors LLC increased its position in shares of A. O. Smith by 0.5% during 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 buying an additional 304 shares during the period. CSat Investment Advisory L.P. increased its position in shares of A. O. Smith by 25.4% during 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 buying an additional 319 shares during the period. Finally, Cim LLC increased its position in shares of A. O. Smith by 2.6% during the fourth quarter. Cim LLC now owns 13,254 shares of the industrial products company’s stock valued at $631,000 after buying an additional 339 shares during the period. Hedge funds and other institutional investors own 80.21% of the company’s stock.
Shares of NYSE AOS traded down $1.28 during mid-day trading on Thursday, reaching $47.11. 578,647 shares of the company were exchanged, compared to its average volume of 2,113,567. The firm has a 50-day moving average of $43.98 and a 200 day moving average of $43.69. A. O. Smith Corp has a 1 year low of $33.81 and a 1 year high of $52.70. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 3.69 and a beta of 1.28. The company has a quick ratio of 1.62, a current ratio of 2.06 and a debt-to-equity ratio of 0.23.
A. O. Smith (NYSE:AOS) last issued its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The business had revenue of $636.90 million for the quarter, compared to analysts’ expectations of $655.91 million. A. O. Smith had a return on equity of 19.95% and a net margin of 11.54%. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS. On average, equities analysts forecast that A. O. Smith Corp will post 1.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, April 29th. This represents a $0.96 annualized dividend and a yield of 2.04%. A. O. Smith’s dividend payout ratio (DPR) is 43.24%.
In other news, Director Ajita G. Rajendra sold 46,000 shares of A. O. Smith stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $49.54, for a total value of $2,278,840.00. Following the completion of the sale, the director now directly owns 135,147 shares of the company’s stock, valued at $6,695,182.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by company insiders.
Several analysts have issued reports on AOS shares. Rosenblatt Securities upped their target price on A. O. Smith from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Stifel Nicolaus began coverage on A. O. Smith in a research note on Thursday, April 2nd. They issued a “buy” rating and a $45.00 price target for the company. Zacks Investment Research upgraded A. O. Smith from a “sell” rating to a “hold” rating and set a $55.00 price objective for the company in a report on Monday. Robert W. Baird increased their price objective on A. O. Smith from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, UBS Group started coverage on A. O. Smith in a report on Friday, May 29th. They set a “buy” rating and a $54.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $44.63.
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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