Shell Asset Management Co. Cuts Holdings in A. O. Smith Co. (NYSE:AOS)

Posted by MarketBeat News on Aug 2nd, 2022

Shell Asset Management Co. decreased its position in A. O. Smith Co. (NYSE:AOS – Get Rating) by 20.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,153 shares of the industrial products company’s stock after selling 2,687 shares during the period. Shell Asset Management Co.’s holdings in A. O. Smith were worth $649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. WASHINGTON TRUST Co increased its stake in shares of A. O. Smith by 60.4% during the fourth quarter. WASHINGTON TRUST Co now owns 449 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 169 shares in the last quarter. CWM LLC increased its stake in shares of A. O. Smith by 6.0% during the first quarter. CWM LLC now owns 3,401 shares of the industrial products company’s stock worth $217,000 after purchasing an additional 193 shares in the last quarter. Bank of New Hampshire increased its stake in shares of A. O. Smith by 1.0% during the first quarter. Bank of New Hampshire now owns 21,093 shares of the industrial products company’s stock worth $1,348,000 after purchasing an additional 200 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of A. O. Smith by 0.3% during the first quarter. Daiwa Securities Group Inc. now owns 79,862 shares of the industrial products company’s stock worth $5,102,000 after purchasing an additional 225 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of A. O. Smith by 0.6% during the fourth quarter. American International Group Inc. now owns 40,002 shares of the industrial products company’s stock worth $3,434,000 after purchasing an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 76.55% of the company’s stock.

A. O. Smith Stock Performance

NYSE:AOS opened at $61.93 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.76 and a quick ratio of 1.23. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 2.02 and a beta of 1.19. The company’s 50-day moving average is $57.64 and its two-hundred day moving average is $64.02. A. O. Smith Co. has a 1-year low of $51.91 and a 1-year high of $86.74.

A. O. Smith (NYSE:AOS – Get Rating) last posted its earnings results on Thursday, July 28th. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. The company had revenue of $965.90 million for the quarter, compared to analyst estimates of $959.82 million. A. O. Smith had a net margin of 13.42% and a return on equity of 28.47%. A. O. Smith’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 EPS. Analysts forecast that A. O. Smith Co. will post 3.49 EPS for the current year.

A. O. Smith Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 29th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $1.12 annualized dividend and a dividend yield of 1.81%. A. O. Smith’s dividend payout ratio is currently 34.36%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AOS. StockNews.com raised shares of A. O. Smith from a “hold” rating to a “buy” rating in a research note on Tuesday, May 17th. Robert W. Baird lowered shares of A. O. Smith from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $72.00 to $60.00 in a research report on Thursday, July 14th. Citigroup boosted their price target on shares of A. O. Smith from $61.00 to $65.00 and gave the stock a “maintains” rating in a research report on Friday. Longbow Research upgraded shares of A. O. Smith from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, July 6th. Finally, Northcoast Research assumed coverage on shares of A. O. Smith in a research report on Monday, July 18th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, A. O. Smith currently has a consensus rating of “Hold” and a consensus target price of $69.67.

A. O. Smith Profile

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A. O. Smith Corporation manufactures and markets residential and commercial gas, heat pump 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; commercial boilers for hospitals, schools, hotels, and other large commercial buildings, as well as residential boilers for homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, on-the-go filtration bottles, point-of-use carbon, and reverse osmosis products for residences, restaurants, hotels, and offices.