224,517 Shares in A. O. Smith Corporation $AOS Bought by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management acquired 224,517 shares of A. O. Smith worth approximately $14.1 million, while institutional investors collectively own 76.1% of the company.
• A. O. Smith reported quarterly EPS of $1.03, beating estimates of $0.96, on revenue of approximately $1 billion; however, revenue declined 0.7% year over year.
• Analysts maintain an overall “Hold” rating, with an average price target of $67.75. The company also declared a quarterly dividend of $0.36 per share, representing a 2.3% yield.

Wedge Capital Management L L P NC acquired a new stake in A. O. Smith Corporation (NYSE:AOS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 224,517 shares of the industrial products company's stock, valued at approximately $14,082,000. Wedge Capital Management L L P NC owned approximately 0.16% of A. O. Smith at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. grew its stake in A. O. Smith by 15.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 7,113 shares of the industrial products company's stock worth $446,000 after buying an additional 937 shares during the last quarter. Czech National Bank increased its holdings in shares of A. O. Smith by 4.1% in the 2nd quarter. Czech National Bank now owns 31,870 shares of the industrial products company's stock valued at $1,999,000 after acquiring an additional 1,251 shares during the period. Assenagon Asset Management S.A. raised its position in A. O. Smith by 5,521.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 489,264 shares of the industrial products company's stock valued at $30,687,000 after purchasing an additional 480,561 shares during the last quarter. CX Institutional boosted its stake in A. O. Smith by 14.0% during the 2nd quarter. CX Institutional now owns 69,291 shares of the industrial products company's stock worth $4,346,000 after purchasing an additional 8,484 shares during the period. Finally, Glenmede Trust Co. NA grew its position in A. O. Smith by 6.1% during the 1st quarter. Glenmede Trust Co. NA now owns 4,528 shares of the industrial products company's stock worth $299,000 after purchasing an additional 261 shares during the last quarter. 76.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AOS. JPMorgan Chase & Co. reissued an "underweight" rating and set a $60.00 price target (down from $65.00) on shares of A. O. Smith in a report on Friday, May 15th. Zacks Research upgraded A. O. Smith from a "strong sell" rating to a "hold" rating in a research note on Monday. DA Davidson set a $67.00 price objective on shares of A. O. Smith and gave the company a "neutral" rating in a research note on Monday, May 4th. Citigroup reduced their target price on shares of A. O. Smith from $65.00 to $64.00 and set a "neutral" rating for the company in a research note on Friday, July 31st. Finally, Oppenheimer set a $75.00 price target on shares of A. O. Smith and gave the stock an "outperform" rating in a research note on Wednesday, June 10th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, A. O. Smith presently has an average rating of "Hold" and an average target price of $67.75.

A. O. Smith Stock Down 1.8%

A. O. Smith stock opened at $62.54 on Thursday. A. O. Smith Corporation has a fifty-two week low of $54.16 and a fifty-two week high of $81.86. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17. The stock's fifty day moving average is $60.47 and its two-hundred day moving average is $64.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.59.

A. O. Smith (NYSE:AOS - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.96 by $0.07. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $994.89 million. A. O. Smith had a net margin of 13.15% and a return on equity of 27.88%. The business's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. A. O. Smith has set its FY 2026 guidance at 3.700-3.850 EPS. Analysts predict that A. O. Smith Corporation will post 3.74 EPS for the current fiscal year.

A. O. Smith Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 31st will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, July 31st. A. O. Smith's payout ratio is currently 40.00%.

About A. O. Smith

A. O. Smith Corporation, based in Milwaukee, Wisconsin, is a leading manufacturer of water heating and water treatment products for residential and commercial applications. Since its founding in 1874, the company has built a reputation for producing reliable, energy-efficient water heaters, boilers and pressure vessels. Its product portfolio encompasses gas, electric, condensing and tankless water heaters, as well as specialty boilers designed to meet a variety of building and industrial needs.

The company operates through two primary segments: North America and Asia.

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