Bank of New York Mellon Corp Raises Stake in A. O. Smith Corporation (NYSE:AOS)

Bank of New York Mellon Corp lifted its position in A. O. Smith Corporation (NYSE:AOS - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,198,071 shares of the industrial products company's stock after purchasing an additional 54,830 shares during the quarter. Bank of New York Mellon Corp owned about 0.83% of A. O. Smith worth $78,306,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. New Age Alpha Advisors LLC acquired a new stake in A. O. Smith during the fourth quarter worth about $66,000. Intact Investment Management Inc. acquired a new stake in A. O. Smith during the first quarter worth about $72,000. Private Trust Co. NA grew its holdings in A. O. Smith by 22.1% during the first quarter. Private Trust Co. NA now owns 1,181 shares of the industrial products company's stock worth $77,000 after acquiring an additional 214 shares during the period. Canada Post Corp Registered Pension Plan acquired a new stake in A. O. Smith during the fourth quarter worth about $84,000. Finally, Signaturefd LLC grew its holdings in A. O. Smith by 40.0% during the fourth quarter. Signaturefd LLC now owns 1,299 shares of the industrial products company's stock worth $89,000 after acquiring an additional 371 shares during the period. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

A. O. Smith Price Performance

Shares of AOS traded down $0.23 during trading hours on Monday, hitting $68.86. 863,967 shares of the stock were exchanged, compared to its average volume of 1,302,049. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.61. A. O. Smith Corporation has a 12-month low of $58.83 and a 12-month high of $92.45. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20. The stock's 50-day moving average price is $66.50 and its two-hundred day moving average price is $66.60.

A. O. Smith (NYSE:AOS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. A. O. Smith had a return on equity of 28.39% and a net margin of 13.74%. The firm had revenue of $963.90 million during the quarter, compared to analysts' expectations of $950.56 million. During the same period in the previous year, the business earned $1.00 earnings per share. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts expect that A. O. Smith Corporation will post 3.76 earnings per share for the current year.

A. O. Smith Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, July 31st. A. O. Smith's payout ratio is currently 37.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Robert W. Baird upped their target price on A. O. Smith from $75.00 to $76.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of A. O. Smith in a research note on Saturday. JPMorgan Chase & Co. assumed coverage on A. O. Smith in a research note on Tuesday, June 24th. They set a "neutral" rating and a $70.00 target price for the company. Citigroup reduced their target price on A. O. Smith from $69.00 to $65.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus upped their target price on A. O. Smith from $75.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, A. O. Smith presently has a consensus rating of "Hold" and an average target price of $75.29.

A. O. Smith Company 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.