Shares of A. O. Smith Corporation (NYSE:AOS - Get Free Report) were up 6.9% on Thursday following a better than expected earnings announcement. The company traded as high as $77.31 and last traded at $76.29. Approximately 1,045,412 shares were traded during trading, a decline of 33% from the average daily volume of 1,567,911 shares. The stock had previously closed at $71.38.
The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.10. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $997.89 million. A. O. Smith had a return on equity of 28.39% and a net margin of 13.74%. The company's quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 EPS.
A. O. Smith Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Thursday, July 31st. A. O. Smith's payout ratio is 37.99%.
Analyst Ratings Changes
AOS has been the topic of a number of research analyst reports. Robert W. Baird lifted their price target on A. O. Smith from $75.00 to $76.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Stifel Nicolaus boosted their price target on A. O. Smith from $78.00 to $81.00 and gave the company a "buy" rating in a research note on Monday. Citigroup lowered their price target on A. O. Smith from $69.00 to $65.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. started coverage on A. O. Smith in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $70.00 price objective on the stock. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of A. O. Smith in a research note on Saturday, July 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $75.71.
Get Our Latest Analysis on AOS
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in AOS. Vermillion & White Wealth Management Group LLC bought a new stake in shares of A. O. Smith in the 1st quarter valued at $26,000. TD Private Client Wealth LLC increased its position in shares of A. O. Smith by 143.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 446 shares of the industrial products company's stock valued at $29,000 after buying an additional 263 shares in the last quarter. National Pension Service increased its holdings in A. O. Smith by 74.8% during the 1st quarter. National Pension Service now owns 458 shares of the industrial products company's stock worth $30,000 after purchasing an additional 196 shares in the last quarter. TCTC Holdings LLC increased its holdings in A. O. Smith by 69.9% during the 1st quarter. TCTC Holdings LLC now owns 491 shares of the industrial products company's stock worth $32,000 after purchasing an additional 202 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased 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 purchasing an additional 333 shares in the last quarter. Institutional investors and hedge funds own 76.10% of the company's stock.
A. O. Smith Price Performance
The company has a market cap of $10.78 billion, a P/E ratio of 21.26, a PEG ratio of 1.58 and a beta of 1.20. The company has a fifty day moving average price of $66.61 and a two-hundred day moving average price of $66.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.61.
About A. O. Smith
(
Get Free Report)
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.
Further Reading
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