Bank of Nova Scotia Lowers Position in A. O. Smith Co. (NYSE:AOS)

Bank of Nova Scotia cut its holdings in A. O. Smith Co. (NYSE:AOSGet Rating) by 34.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,732 shares of the industrial products company’s stock after selling 5,711 shares during the quarter. Bank of Nova Scotia’s holdings in A. O. Smith were worth $586,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. National Asset Management Inc. raised its holdings in A. O. Smith by 14.4% in the first quarter. National Asset Management Inc. now owns 3,343 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 420 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in A. O. Smith in the first quarter worth about $48,000. Arizona State Retirement System raised its holdings in A. O. Smith by 2.2% in the first quarter. Arizona State Retirement System now owns 37,074 shares of the industrial products company’s stock worth $2,369,000 after purchasing an additional 809 shares in the last quarter. abrdn plc raised its holdings in A. O. Smith by 0.7% in the first quarter. abrdn plc now owns 93,293 shares of the industrial products company’s stock worth $6,103,000 after purchasing an additional 639 shares in the last quarter. Finally, C WorldWide Group Holding A S raised its holdings in A. O. Smith by 11.9% in the first quarter. C WorldWide Group Holding A S now owns 98,479 shares of the industrial products company’s stock worth $6,292,000 after purchasing an additional 10,452 shares in the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on AOS. StockNews.com downgraded shares of A. O. Smith from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Citigroup cut their price objective on shares of A. O. Smith from $65.00 to $54.00 in a report on Monday, October 10th. DA Davidson cut their price objective on shares of A. O. Smith from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, October 19th. Finally, Stifel Nicolaus cut their price objective on shares of A. O. Smith from $63.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 11th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $67.14.

A. O. Smith Trading Up 2.0 %

A. O. Smith stock opened at $61.28 on Monday. The company has a current ratio of 1.74, a quick ratio of 1.16 and a debt-to-equity ratio of 0.16. A. O. Smith Co. has a 12 month low of $46.58 and a 12 month high of $86.74. The stock’s 50 day simple moving average is $52.91 and its two-hundred day simple moving average is $56.61. The firm has a market cap of $9.36 billion, a PE ratio of 19.45, a P/E/G ratio of 2.21 and a beta of 1.24.

A. O. Smith (NYSE:AOSGet Rating) last released its quarterly earnings data on Thursday, October 27th. The industrial products company reported $0.69 EPS for the quarter, hitting the consensus estimate of $0.69. A. O. Smith had a return on equity of 27.67% and a net margin of 12.99%. The business had revenue of $874.20 million for the quarter, compared to analyst estimates of $874.04 million. During the same quarter in the prior year, the firm posted $0.82 EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Analysts anticipate that A. O. Smith Co. will post 3.09 earnings per share for the current year.

A. O. Smith Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st were given a dividend of $0.30 per share. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, October 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.96%. A. O. Smith’s dividend payout ratio (DPR) is 38.10%.

A. O. Smith Profile

(Get Rating)

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.

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

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