Edgestream Partners L.P. Grows Stock Holdings in A. O. Smith Corporation (NYSE:AOS)

Edgestream Partners L.P. boosted its position in A. O. Smith Corporation (NYSE:AOS - Free Report) by 31.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,811 shares of the industrial products company's stock after purchasing an additional 42,312 shares during the period. A. O. Smith comprises approximately 0.4% of Edgestream Partners L.P.'s portfolio, making the stock its 21st biggest holding. Edgestream Partners L.P. owned 0.12% of A. O. Smith worth $11,687,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in A. O. Smith by 9.7% in the first quarter. Principal Financial Group Inc. now owns 178,543 shares of the industrial products company's stock valued at $11,670,000 after purchasing an additional 15,769 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in A. O. Smith by 41.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,089 shares of the industrial products company's stock valued at $463,000 after purchasing an additional 2,084 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of A. O. Smith by 18.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,085 shares of the industrial products company's stock worth $528,000 after acquiring an additional 1,251 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of A. O. Smith by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,532 shares of the industrial products company's stock worth $363,000 after acquiring an additional 177 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of A. O. Smith during the first quarter worth $1,146,000. Hedge funds and other institutional investors own 76.10% of the company's stock.

Wall Street Analysts Forecast Growth

AOS has been the topic of several recent research reports. Citigroup dropped their target price on A. O. Smith from $69.00 to $65.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Weiss Ratings restated a "hold (c)" rating on shares of A. O. Smith in a research report on Saturday. JPMorgan Chase & Co. assumed coverage on A. O. Smith in a research report on Tuesday, June 24th. They set a "neutral" rating and a $70.00 target price on the stock. Stifel Nicolaus upped their price target on shares of A. O. Smith from $75.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Robert W. Baird upped their price target on shares of A. O. Smith from $75.00 to $76.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $75.29.

A. O. Smith Price Performance

Shares of AOS traded down $1.62 during trading hours on Tuesday, reaching $67.23. 1,198,561 shares of the stock traded hands, compared to its average volume of 1,302,226. The company has a current ratio of 1.61, a quick ratio of 1.01 and a debt-to-equity ratio of 0.14. A. O. Smith Corporation has a 52-week low of $58.83 and a 52-week high of $92.45. The company's 50-day moving average price is $66.51 and its two-hundred day moving average price is $66.61. The company has a market cap of $9.55 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20.

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 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. The business had revenue of $963.90 million for the quarter, compared to analysts' expectations of $950.56 million. A. O. Smith had a net margin of 13.74% and a return on equity of 28.39%. The business's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. On average, analysts anticipate that A. O. Smith Corporation will post 3.76 earnings per share for the current year.

A. O. Smith Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.36 annualized dividend and a yield of 2.02%. A. O. Smith's payout ratio is 37.99%.

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.