Allspring Global Investments Holdings LLC Sells 213,029 Shares of A. O. Smith Co. (NYSE:AOS)

Allspring Global Investments Holdings LLC reduced its holdings in A. O. Smith Co. (NYSE:AOSGet Rating) by 93.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,357 shares of the industrial products company’s stock after selling 213,029 shares during the period. Allspring Global Investments Holdings LLC’s holdings in A. O. Smith were worth $697,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. First Republic Investment Management Inc. grew its stake in shares of A. O. Smith by 1.5% in the 2nd quarter. First Republic Investment Management Inc. now owns 11,922 shares of the industrial products company’s stock worth $652,000 after buying an additional 172 shares in the last quarter. Synovus Financial Corp grew its stake in shares of A. O. Smith by 2.8% in the 2nd quarter. Synovus Financial Corp now owns 6,606 shares of the industrial products company’s stock worth $354,000 after buying an additional 178 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of A. O. Smith by 1.0% in 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 buying an additional 190 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of A. O. Smith by 1.1% in the 2nd quarter. Mutual of America Capital Management LLC now owns 17,872 shares of the industrial products company’s stock worth $977,000 after buying an additional 196 shares in the last quarter. Finally, Raymond James Trust N.A. grew its stake in shares of A. O. Smith by 4.9% in the 1st quarter. Raymond James Trust N.A. now owns 4,351 shares of the industrial products company’s stock worth $278,000 after buying an additional 205 shares in the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

A. O. Smith Trading Up 2.4 %

NYSE:AOS opened at $59.15 on Monday. A. O. Smith Co. has a one year low of $46.58 and a one year high of $78.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.16 and a current ratio of 1.74. The firm has a market cap of $9.04 billion, a P/E ratio of 18.78, a P/E/G ratio of 2.06 and a beta of 1.24. The firm has a 50-day simple moving average of $59.39 and a 200-day simple moving average of $57.08.

A. O. Smith (NYSE:AOSGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The industrial products company reported $0.69 EPS for the quarter, meeting the consensus estimate of $0.69. A. O. Smith had a net margin of 12.99% and a return on equity of 27.67%. The business had revenue of $874.20 million during the quarter, compared to analyst estimates of $874.04 million. During the same quarter in the previous year, the business posted $0.82 EPS. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities analysts anticipate that A. O. Smith Co. will post 3.08 EPS for the current fiscal year.

A. O. Smith Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st will be issued a $0.30 dividend. The ex-dividend date is Monday, January 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.03%. A. O. Smith’s dividend payout ratio is currently 38.10%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Citigroup lifted their price target on shares of A. O. Smith from $50.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, December 9th. The Goldman Sachs Group lifted their price target on shares of A. O. Smith from $46.00 to $55.00 and gave the stock a “sell” rating in a research note on Thursday, January 12th. Stifel Nicolaus lifted their price target on shares of A. O. Smith from $58.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday. DA Davidson dropped their price target on shares of 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. Finally, Loop Capital cut shares of A. O. Smith from a “buy” rating to a “hold” rating and dropped their price target for the stock from $67.00 to $65.00 in a research note on Tuesday, January 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.75.

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.

See Also

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

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