CIBC Asset Management Inc Has $1.59 Million Holdings in A. O. Smith Co. (NYSE:AOS)

CIBC Asset Management Inc grew its stake in A. O. Smith Co. (NYSE:AOS) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,721 shares of the industrial products company’s stock after purchasing an additional 1,110 shares during the period. CIBC Asset Management Inc’s holdings in A. O. Smith were worth $1,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in A. O. Smith during the second quarter worth about $25,000. Isthmus Partners LLC bought a new stake in shares of A. O. Smith in the 2nd quarter worth approximately $27,000. Quarry LP grew its holdings in shares of A. O. Smith by 214.9% during the 2nd quarter. Quarry LP now owns 359 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 245 shares in the last quarter. Waldron Private Wealth LLC bought a new stake in shares of A. O. Smith during the third quarter valued at approximately $32,000. Finally, Wolff Wiese Magana LLC acquired a new position in shares of A. O. Smith in the third quarter valued at $37,000. Institutional investors own 76.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AOS shares. Stifel Nicolaus decreased their price target on shares of A. O. Smith from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. DA Davidson cut shares of A. O. Smith from a “buy” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research note on Wednesday, October 23rd. Robert W. Baird dropped their price target on shares of A. O. Smith from $82.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group raised A. O. Smith from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $75.00 to $80.00 in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded A. O. Smith from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, A. O. Smith has a consensus rating of “Hold” and a consensus price target of $86.71.

A. O. Smith Stock Performance

NYSE:AOS opened at $71.42 on Wednesday. The stock has a market capitalization of $10.36 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 1.91 and a beta of 1.17. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.06. A. O. Smith Co. has a 1 year low of $71.04 and a 1 year high of $92.44. The firm has a 50 day moving average of $80.33 and a 200-day moving average of $82.06.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.82. The firm had revenue of $957.80 million during the quarter, compared to the consensus estimate of $960.36 million. A. O. Smith had a return on equity of 30.09% and a net margin of 14.41%. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, sell-side analysts anticipate that A. O. Smith Co. will post 3.78 EPS for the current fiscal year.

A. O. Smith Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.36 dividend on an annualized basis and a yield of 1.90%. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.32. A. O. Smith’s dividend payout ratio is currently 35.79%.

About A. O. Smith

A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels, office buildings, laundries, car washes, and small businesses; boilers for hospitals, schools, hotels, and other large commercial buildings, as well as homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, and point-of-use carbon and reverse osmosis products for residences, restaurants, hotels, and offices.