Bank of New York Mellon Corp Buys 74,418 Shares of A. O. Smith Co. (NYSE:AOS)

Bank of New York Mellon Corp raised its holdings in A. O. Smith Co. (NYSE:AOS - Free Report) by 7.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,143,241 shares of the industrial products company's stock after buying an additional 74,418 shares during the quarter. Bank of New York Mellon Corp owned 0.79% of A. O. Smith worth $77,980,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new position in A. O. Smith during the 4th quarter valued at $1,631,000. ING Groep NV raised its position in shares of A. O. Smith by 191.2% during the fourth quarter. ING Groep NV now owns 46,713 shares of the industrial products company's stock valued at $3,186,000 after buying an additional 30,670 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of A. O. Smith by 124.5% in the fourth quarter. Private Advisor Group LLC now owns 6,694 shares of the industrial products company's stock valued at $457,000 after buying an additional 3,712 shares during the period. Atria Wealth Solutions Inc. grew its position in A. O. Smith by 9.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 4,691 shares of the industrial products company's stock worth $320,000 after buying an additional 410 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in A. O. Smith by 6.7% during the fourth quarter. D.A. Davidson & CO. now owns 10,419 shares of the industrial products company's stock valued at $711,000 after acquiring an additional 654 shares during the period. 76.10% of the stock is currently owned by institutional investors and hedge funds.

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A. O. Smith Price Performance

AOS stock traded up $1.56 during midday trading on Friday, reaching $69.79. 713,069 shares of the company's stock traded hands, compared to its average volume of 1,420,490. The company has a 50-day simple moving average of $67.95 and a two-hundred day simple moving average of $74.59. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 0.10. A. O. Smith Co. has a 1-year low of $64.55 and a 1-year high of $92.44. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.46 and a beta of 1.18.

A. O. Smith (NYSE:AOS - Get Free Report) last announced its earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.05). A. O. Smith had a return on equity of 28.87% and a net margin of 13.98%. On average, analysts anticipate that A. O. Smith Co. will post 3.76 earnings per share for the current year.

A. O. Smith Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Friday, January 31st. A. O. Smith's dividend payout ratio is 37.47%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. StockNews.com upgraded A. O. Smith from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Stifel Nicolaus reduced their target price on A. O. Smith from $90.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, January 31st. UBS Group reduced their price objective on shares of A. O. Smith from $80.00 to $74.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Citigroup dropped their price target on shares of A. O. Smith from $78.00 to $73.00 and set a "neutral" rating for the company in a research report on Monday, January 13th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of A. O. Smith in a report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $80.86.

Insider Buying and Selling at A. O. Smith

In other A. O. Smith news, VP Robert J. Heideman sold 1,026 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $65.65, for a total value of $67,356.90. Following the completion of the sale, the vice president now owns 8,889 shares of the company's stock, valued at approximately $583,562.85. This represents a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas Samuel Karge sold 419 shares of A. O. Smith stock in a transaction on Friday, February 7th. The stock was sold at an average price of $65.65, for a total transaction of $27,507.35. Following the transaction, the senior vice president now directly owns 2,749 shares in the company, valued at approximately $180,471.85. This represents a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.