A. O. Smith Co. (NYSE:AOS) Sees Large Decrease in Short Interest

A. O. Smith Co. (NYSE:AOS - Get Free Report) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 5,090,000 shares, a decline of 13.0% from the April 30th total of 5,850,000 shares. Currently, 4.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,460,000 shares, the short-interest ratio is presently 3.5 days.

Wall Street Analyst Weigh In

AOS has been the subject of several analyst reports. Citigroup dropped their price objective on A. O. Smith from $69.00 to $65.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Stifel Nicolaus increased their price target on shares of A. O. Smith from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Robert W. Baird lifted their price objective on shares of A. O. Smith from $75.00 to $76.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of A. O. Smith in a research note on Saturday, May 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $76.17.

A. O. Smith Price Performance

AOS stock traded up $0.37 during trading on Wednesday, reaching $64.37. 1,452,773 shares of the company were exchanged, compared to its average volume of 1,235,260. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.46 and a beta of 1.28. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.55 and a quick ratio of 0.96. The company has a 50-day moving average of $65.60 and a two-hundred day moving average of $67.87. A. O. Smith has a twelve month low of $58.83 and a twelve month high of $92.45.

A. O. Smith (NYSE:AOS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. A. O. Smith had a net margin of 13.98% and a return on equity of 28.87%. The company had revenue of $963.90 million during the quarter, compared to the consensus estimate of $950.56 million. During the same period in the prior year, the business earned $1.00 earnings per share. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts predict that A. O. Smith will post 3.76 earnings per share for the current fiscal year.

A. O. Smith Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Wednesday, April 30th. A. O. Smith's dividend payout ratio is currently 37.99%.

Institutional Investors Weigh In On A. O. Smith

Several hedge funds have recently added to or reduced their stakes in AOS. Vermillion & White Wealth Management Group LLC bought a new stake in shares of A. O. Smith in the first quarter worth $26,000. National Pension Service boosted its position in A. O. Smith by 74.8% during the first quarter. National Pension Service now owns 458 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 196 shares during the last quarter. TCTC Holdings LLC boosted its position in A. O. Smith by 69.9% during the first quarter. TCTC Holdings LLC now owns 491 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 202 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in A. O. Smith by 161.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 539 shares of the industrial products company's stock worth $35,000 after acquiring an additional 333 shares during the period. Finally, Ransom Advisory Ltd bought a new position in shares of A. O. Smith in the 1st quarter worth about $48,000. 76.10% of the stock is currently owned by institutional investors and hedge funds.

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.

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