Gateway Investment Advisers LLC Has $233,000 Stock Holdings in A. O. Smith Co. (NYSE:AOS)

Gateway Investment Advisers LLC grew its position in shares of A. O. Smith Co. (NYSE:AOS) by 18.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,847 shares of the industrial products company’s stock after purchasing an additional 445 shares during the quarter. Gateway Investment Advisers LLC’s holdings in A. O. Smith were worth $233,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of A. O. Smith in the fourth quarter worth approximately $2,644,000. Mirae Asset Global Investments Co. Ltd. lifted its position in A. O. Smith by 4.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,773 shares of the industrial products company’s stock valued at $3,691,000 after acquiring an additional 1,932 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of A. O. Smith by 5.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,446 shares of the industrial products company’s stock valued at $614,000 after buying an additional 385 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of A. O. Smith in the 4th quarter worth $253,000. Finally, Cerity Partners LLC bought a new stake in A. O. Smith in the 4th quarter worth about $412,000. 76.10% of the stock is owned by institutional investors and hedge funds.

A. O. Smith Stock Performance

Shares of NYSE AOS traded down $0.22 during mid-day trading on Friday, hitting $80.27. The company had a trading volume of 628,008 shares, compared to its average volume of 965,803. The stock’s 50-day moving average price is $83.29 and its 200-day moving average price is $83.95. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.23 and a beta of 1.15. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. A. O. Smith Co. has a 1 year low of $64.14 and a 1 year high of $92.44.

A. O. Smith (NYSE:AOS) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that A. O. Smith Co. will post 4.07 earnings per share for the current year.

A. O. Smith Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.59%. The ex-dividend date is Wednesday, July 31st. A. O. Smith’s payout ratio is 33.16%.

Analyst Upgrades and Downgrades

AOS has been the subject of a number of recent analyst reports. Oppenheimer restated a “market perform” rating on shares of A. O. Smith in a research note on Thursday, April 18th. StockNews.com lowered A. O. Smith from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Stifel Nicolaus upgraded A. O. Smith from a “hold” rating to a “buy” rating and boosted their target price for the company from $97.00 to $98.00 in a research note on Wednesday, July 24th. Robert W. Baird dropped their price target on A. O. Smith from $92.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, UBS Group lifted their price objective on A. O. Smith from $73.00 to $75.00 and gave the stock a “sell” rating in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.67.

Insider Activity

In other news, SVP Samuel M. Carver sold 14,705 shares of A. O. Smith stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $81.00, for a total transaction of $1,191,105.00. Following the completion of the sale, the senior vice president now owns 2,399 shares in the company, valued at approximately $194,319. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.70% of the company’s stock.

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.