Cornerstone Wealth Management LLC Buys 1,155 Shares of A. O. Smith Co. (NYSE:AOS)

Cornerstone Wealth Management LLC boosted its stake in A. O. Smith Co. (NYSE:AOS) by 24.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,935 shares of the industrial products company’s stock after acquiring an additional 1,155 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in A. O. Smith were worth $405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Inspire Investing LLC lifted its stake in shares of A. O. Smith by 7.5% in the 4th quarter. Inspire Investing LLC now owns 16,533 shares of the industrial products company’s stock valued at $1,128,000 after acquiring an additional 1,155 shares during the last quarter. Mutual Advisors LLC bought a new position in A. O. Smith in the fourth quarter valued at about $209,000. Advisory Alpha LLC raised its position in A. O. Smith by 8.6% in the fourth quarter. Advisory Alpha LLC now owns 3,454 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 274 shares during the last quarter. Nisa Investment Advisors LLC raised its position in A. O. Smith by 1.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 59,654 shares of the industrial products company’s stock valued at $4,069,000 after purchasing an additional 891 shares during the last quarter. Finally, Perpetual Ltd raised its holdings in A. O. Smith by 10.4% in the 4th quarter. Perpetual Ltd now owns 118,624 shares of the industrial products company’s stock valued at $8,091,000 after buying an additional 11,128 shares during the last quarter. Institutional investors own 76.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AOS. Stifel Nicolaus dropped their price objective on shares of A. O. Smith from $91.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. DA Davidson lowered A. O. Smith from a “buy” rating to a “neutral” rating and set a $80.00 target price for the company. in a research report on Wednesday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of A. O. Smith in a research report on Saturday, January 18th. UBS Group raised A. O. Smith from a “sell” rating to a “neutral” rating and raised their target price for the stock from $75.00 to $80.00 in a research report on Wednesday, October 23rd. Finally, Citigroup lowered their price objective on A. O. Smith from $78.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, A. O. Smith presently has an average rating of “Hold” and an average target price of $83.14.

A. O. Smith Stock Performance

AOS stock opened at $70.60 on Monday. The firm has a market cap of $10.24 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The stock has a 50-day moving average price of $71.05 and a 200-day moving average price of $77.89. 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 $67.17 and a 1-year high of $92.44.

A. O. Smith Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.36 annualized dividend and a dividend yield of 1.93%. 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.