DNB Asset Management AS Raises Stock Position in A. O. Smith Corp (NYSE:AOS)

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DNB Asset Management AS boosted its holdings in A. O. Smith Corp (NYSE:AOS) by 21.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 34,852 shares of the industrial products company’s stock after purchasing an additional 6,084 shares during the quarter. DNB Asset Management AS’s holdings in A. O. Smith were worth $1,663,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Dupont Capital Management Corp increased its stake in A. O. Smith by 13.4% in the 2nd quarter. Dupont Capital Management Corp now owns 473,388 shares of the industrial products company’s stock worth $22,325,000 after buying an additional 56,085 shares in the last quarter. Great Lakes Advisors LLC increased its stake in A. O. Smith by 1.7% in the 2nd quarter. Great Lakes Advisors LLC now owns 321,377 shares of the industrial products company’s stock worth $15,156,000 after buying an additional 5,375 shares in the last quarter. Boston Financial Mangement LLC increased its stake in A. O. Smith by 5.5% in the 2nd quarter. Boston Financial Mangement LLC now owns 277,140 shares of the industrial products company’s stock worth $13,070,000 after buying an additional 14,370 shares in the last quarter. First Trust Advisors LP increased its stake in A. O. Smith by 5.9% in the 2nd quarter. First Trust Advisors LP now owns 383,407 shares of the industrial products company’s stock worth $18,081,000 after buying an additional 21,527 shares in the last quarter. Finally, Sandbar Asset Management LLP purchased a new stake in A. O. Smith in the 2nd quarter worth $4,750,000. Institutional investors and hedge funds own 76.21% of the company’s stock.

Shares of A. O. Smith stock opened at $51.01 on Monday. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.35 and a beta of 1.53. The business has a 50-day moving average price of $47.57 and a 200-day moving average price of $47.55. The company has a quick ratio of 1.74, a current ratio of 2.19 and a debt-to-equity ratio of 0.23. A. O. Smith Corp has a twelve month low of $40.34 and a twelve month high of $56.66.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.03). The firm had revenue of $765.40 million for the quarter, compared to analysts’ expectations of $812.29 million. A. O. Smith had a net margin of 13.71% and a return on equity of 24.31%. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. On average, equities analysts expect that A. O. Smith Corp will post 2.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.24 per share. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.88%. A. O. Smith’s dividend payout ratio (DPR) is presently 33.72%.

In related news, Chairman Ajita G. Rajendra sold 16,556 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $49.47, for a total value of $819,025.32. Following the completion of the transaction, the chairman now owns 78,163 shares of the company’s stock, valued at approximately $3,866,723.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Helen E. Gurholt sold 1,263 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $45.82, for a total transaction of $57,870.66. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

A number of brokerages have issued reports on AOS. ValuEngine lowered A. O. Smith from a “hold” rating to a “sell” rating in a research note on Saturday. TheStreet upgraded A. O. Smith from a “c+” rating to a “b-” rating in a research report on Tuesday, September 10th. Jefferies Financial Group began coverage on A. O. Smith in a research report on Wednesday, July 10th. They set a “hold” rating for the company. Zacks Investment Research lowered A. O. Smith from a “hold” rating to a “sell” rating and set a $48.00 price objective for the company. in a research report on Wednesday, June 26th. Finally, Northcoast Research restated a “buy” rating on shares of A. O. Smith in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. A. O. Smith presently has an average rating of “Hold” and a consensus price target of $54.85.

A. O. Smith 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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Institutional Ownership by Quarter for A. O. Smith (NYSE:AOS)

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