Verition Fund Management LLC trimmed its position in A. O. Smith Co. (NYSE:AOS - Free Report) by 32.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,142 shares of the industrial products company's stock after selling 12,906 shares during the period. Verition Fund Management LLC's holdings in A. O. Smith were worth $2,438,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of AOS. Legacy Capital Wealth Partners LLC bought a new position in shares of A. O. Smith in the 2nd quarter worth about $228,000. Cetera Investment Advisers grew its holdings in shares of A. O. Smith by 222.0% during the first quarter. Cetera Investment Advisers now owns 25,255 shares of the industrial products company's stock valued at $2,259,000 after purchasing an additional 17,411 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of A. O. Smith during the 2nd quarter worth approximately $4,127,000. Bank of Montreal Can lifted its holdings in shares of A. O. Smith by 37.6% in the 2nd quarter. Bank of Montreal Can now owns 185,768 shares of the industrial products company's stock worth $15,409,000 after purchasing an additional 50,798 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in A. O. Smith during the 2nd quarter valued at approximately $1,372,000. Institutional investors and hedge funds own 76.10% of the company's stock.
A. O. Smith Price Performance
Shares of A. O. Smith stock traded up $0.25 during trading on Friday, hitting $72.57. The stock had a trading volume of 1,066,678 shares, compared to its average volume of 967,856. The business has a fifty day moving average of $78.09 and a two-hundred day moving average of $81.10. A. O. Smith Co. has a fifty-two week low of $70.73 and a fifty-two week high of $92.44. The firm has a market cap of $10.52 billion, a P/E ratio of 19.06, a PEG ratio of 1.96 and a beta of 1.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.02.
A. O. Smith (NYSE:AOS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $0.82 earnings per share for the quarter, meeting the consensus estimate of $0.82. A. O. Smith had a net margin of 14.41% and a return on equity of 30.09%. The company had revenue of $957.80 million during the quarter, compared to analyst estimates of $960.36 million. During the same quarter last year, the firm posted $0.90 EPS. On average, sell-side analysts expect that A. O. Smith Co. will post 3.78 earnings per share for the current fiscal year.
A. O. Smith Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.34 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.36 annualized dividend and a dividend yield of 1.87%. This is a boost from A. O. Smith's previous quarterly dividend of $0.32. A. O. Smith's dividend payout ratio is currently 35.79%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on AOS shares. UBS Group upgraded shares of A. O. Smith from a "sell" rating to a "neutral" rating and upped their price target for the stock from $75.00 to $80.00 in a research report on Wednesday, October 23rd. DA Davidson lowered shares of A. O. Smith from a "buy" rating to a "neutral" rating and set a $80.00 price target on the stock. in a research note on Wednesday, October 23rd. Stifel Nicolaus reduced their price objective on A. O. Smith from $92.00 to $91.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. StockNews.com upgraded A. O. Smith from a "hold" rating to a "buy" rating in a research report on Wednesday, November 20th. Finally, Robert W. Baird reduced their price target on A. O. Smith from $82.00 to $81.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, A. O. Smith currently has an average rating of "Hold" and a consensus target price of $86.71.
Read Our Latest Stock Report on AOS
About A. O. Smith
(
Free Report)
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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