DNB Asset Management AS Grows Position in A. O. Smith Co. (NYSE:AOS)

DNB Asset Management AS lifted its stake in A. O. Smith Co. (NYSE:AOS) by 9.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,384 shares of the industrial products company’s stock after buying an additional 2,674 shares during the quarter. DNB Asset Management AS’s holdings in A. O. Smith were worth $2,485,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV raised its stake in A. O. Smith by 0.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 202,456 shares of the industrial products company’s stock valued at $16,557,000 after purchasing an additional 1,175 shares in the last quarter. Confluence Investment Management LLC bought a new position in A. O. Smith during the second quarter valued at $22,288,000. SRN Advisors LLC increased its position in A. O. Smith by 5.1% during the first quarter. SRN Advisors LLC now owns 11,106 shares of the industrial products company’s stock valued at $994,000 after acquiring an additional 540 shares during the last quarter. American Trust bought a new position in shares of A. O. Smith in the first quarter worth about $739,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of A. O. Smith by 15.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 129,137 shares of the industrial products company’s stock worth $11,422,000 after purchasing an additional 17,511 shares during the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com cut shares of A. O. Smith from a “buy” rating to a “hold” rating in a report on Monday. UBS Group increased their target price on shares of A. O. Smith from $73.00 to $75.00 and gave the stock a “sell” rating in a report on Monday, July 8th. Stifel Nicolaus upgraded shares of A. O. Smith from a “hold” rating to a “buy” rating and increased their target price for the stock from $97.00 to $98.00 in a report on Wednesday, July 24th. Jefferies Financial Group increased their target price on shares of A. O. Smith from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Finally, Robert W. Baird dropped their target price on shares of A. O. Smith from $92.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, A. O. Smith currently has an average rating of “Hold” and a consensus price target of $89.67.

Insiders Place Their Bets

In related news, Director Ronald D. Brown 3,631 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is currently owned by insiders.

A. O. Smith Stock Performance

Shares of A. O. Smith stock traded up $0.01 during midday trading on Tuesday, hitting $81.66. The company had a trading volume of 850,938 shares, compared to its average volume of 965,151. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 2.25 and a beta of 1.15. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $83.42 and a 200 day simple moving average of $83.99. A. O. Smith Co. has a 12-month low of $64.14 and a 12-month high of $92.44.

A. O. Smith (NYSE:AOS) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). A. O. Smith had a return on equity of 31.04% and a net margin of 14.67%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts predict that A. O. Smith Co. will post 4.07 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Wednesday, July 31st. A. O. Smith’s dividend payout ratio is presently 33.16%.

A. O. Smith Profile

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.