Lazard Asset Management LLC Decreases Stake in A. O. Smith Co. (NYSE:AOS)

Lazard Asset Management LLC reduced its stake in shares of A. O. Smith Co. (NYSE:AOSGet Rating) by 91.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,966 shares of the industrial products company’s stock after selling 42,920 shares during the period. Lazard Asset Management LLC’s holdings in A. O. Smith were worth $216,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its position in shares of A. O. Smith by 1.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 18,687 shares of the industrial products company’s stock worth $1,021,000 after purchasing an additional 190 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of A. O. Smith by 4.9% during the 1st quarter. Raymond James Trust N.A. now owns 4,351 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 205 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of A. O. Smith by 1.1% during the 2nd quarter. Van ECK Associates Corp now owns 18,225 shares of the industrial products company’s stock worth $996,000 after buying an additional 206 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of A. O. Smith by 1.2% during the 1st quarter. HighTower Advisors LLC now owns 17,210 shares of the industrial products company’s stock worth $1,093,000 after buying an additional 208 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of A. O. Smith by 0.7% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 30,624 shares of the industrial products company’s stock worth $1,675,000 after buying an additional 222 shares during the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

A. O. Smith Trading Up 2.0 %

Shares of AOS stock opened at $61.28 on Monday. A. O. Smith Co. has a twelve month low of $46.58 and a twelve month high of $86.74. The firm has a 50-day moving average price of $52.91 and a 200 day moving average price of $56.61. The company has a current ratio of 1.74, a quick ratio of 1.16 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.21 and a beta of 1.24.

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

A. O. Smith Increases Dividend

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

Wall Street Analyst Weigh In

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

About A. O. Smith

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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.

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

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