Evercore Wealth Management LLC boosted its stake in A. O. Smith Corp (NYSE:AOS) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 826,138 shares of the industrial products company’s stock after buying an additional 40,108 shares during the quarter. A. O. Smith makes up about 1.4% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 25th largest position. Evercore Wealth Management LLC owned 0.48% of A. O. Smith worth $44,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Morgan Stanley boosted its stake in A. O. Smith by 531.8% in the 2nd quarter. Morgan Stanley now owns 3,478,281 shares of the industrial products company’s stock valued at $205,741,000 after buying an additional 2,927,749 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in A. O. Smith in the 2nd quarter valued at $1,302,000. Putnam Investments LLC boosted its stake in A. O. Smith by 5.2% in the 2nd quarter. Putnam Investments LLC now owns 886,851 shares of the industrial products company’s stock valued at $52,457,000 after buying an additional 43,497 shares in the last quarter. Federated Investors Inc. PA acquired a new stake in A. O. Smith in the 2nd quarter valued at $145,000. Finally, Renaissance Technologies LLC acquired a new stake in A. O. Smith in the 2nd quarter valued at $12,936,000. 77.02% of the stock is currently owned by institutional investors and hedge funds.
AOS has been the topic of several recent analyst reports. Zacks Investment Research raised A. O. Smith from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Oppenheimer reaffirmed a “hold” rating on shares of A. O. Smith in a research note on Tuesday, September 18th. ValuEngine lowered A. O. Smith from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Stephens began coverage on A. O. Smith in a research note on Monday, November 19th. They issued an “equal weight” rating and a $50.00 price objective on the stock. Finally, Goldman Sachs Group began coverage on A. O. Smith in a research note on Tuesday, October 2nd. They issued a “sell” rating and a $50.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $64.00.
A. O. Smith stock opened at $45.17 on Thursday. The company has a current ratio of 2.16, a quick ratio of 1.75 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.56 and a beta of 1.45. A. O. Smith Corp has a 52 week low of $40.34 and a 52 week high of $68.39.
A. O. Smith (NYSE:AOS) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.02). The business had revenue of $754.10 million during the quarter, compared to analyst estimates of $805.92 million. A. O. Smith had a return on equity of 24.98% and a net margin of 10.83%. A. O. Smith’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. Research analysts anticipate that A. O. Smith Corp will post 2.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.95%. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.18. A. O. Smith’s payout ratio is currently 40.55%.
A. O. Smith Profile
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for use in space heating applications for hospitals, schools, hotels, and other large commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtrations products for residences, restaurants, hotels, and offices.
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