Park Avenue Securities LLC reduced its stake in shares of A. O. Smith Co. (NYSE:AOS – Get Rating) by 21.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,026 shares of the industrial products company’s stock after selling 1,334 shares during the quarter. Park Avenue Securities LLC’s holdings in A. O. Smith were worth $244,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of AOS. Heritage Financial Services LLC bought a new position in shares of A. O. Smith in the second quarter worth about $26,000. Wipfli Financial Advisors LLC bought a new position in shares of A. O. Smith in the third quarter worth about $31,000. SCHRODERS IS Ltd bought a new position in shares of A. O. Smith in the second quarter worth about $65,000. Archer Investment Corp bought a new position in shares of A. O. Smith in the second quarter worth about $71,000. Finally, Ronald Blue Trust Inc. bought a new position in shares of A. O. Smith in the second quarter worth about $87,000. 77.01% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on AOS. Loop Capital lowered A. O. Smith from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $67.00 to $65.00 in a research note on Tuesday, January 17th. DA Davidson decreased their target price on A. O. Smith from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 19th. Stifel Nicolaus lifted their target price on A. O. Smith from $58.00 to $59.00 and gave the stock a “hold” rating in a research report on Friday. Citigroup lifted their target price on A. O. Smith from $50.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, December 9th. Finally, UBS Group downgraded A. O. Smith from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $65.00 to $58.00 in a research report on Tuesday, January 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.75.
A. O. Smith Stock Up 1.8 %
A. O. Smith (NYSE:AOS – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The industrial products company reported $0.69 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.69. The company had revenue of $874.20 million for the quarter, compared to the consensus estimate of $874.04 million. A. O. Smith had a return on equity of 27.67% and a net margin of 12.99%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. Equities analysts forecast that A. O. Smith Co. will post 3.08 earnings per share for the current fiscal year.
A. O. Smith Announces Dividend
The firm also recently announced 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. This represents a $1.20 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Monday, January 30th. A. O. Smith’s payout ratio is currently 38.10%.
About A. O. Smith
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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