Envestnet Asset Management Inc. Boosts Stake in A. O. Smith Corporation (NYSE:AOS)

Envestnet Asset Management Inc. lifted its position in shares of A. O. Smith Corporation (NYSE:AOS - Free Report) by 75.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 402,039 shares of the industrial products company's stock after acquiring an additional 173,366 shares during the quarter. Envestnet Asset Management Inc. owned 0.28% of A. O. Smith worth $26,277,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. New Age Alpha Advisors LLC acquired a new position in shares of A. O. Smith during the 4th quarter worth about $66,000. Intact Investment Management Inc. acquired a new position in shares of A. O. Smith during the 1st quarter worth about $72,000. Private Trust Co. NA raised its position in shares of A. O. Smith by 22.1% during the 1st quarter. Private Trust Co. NA now owns 1,181 shares of the industrial products company's stock worth $77,000 after purchasing an additional 214 shares during the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in shares of A. O. Smith during the 4th quarter worth about $84,000. Finally, Signaturefd LLC raised its position in shares of A. O. Smith by 40.0% during the 4th quarter. Signaturefd LLC now owns 1,299 shares of the industrial products company's stock worth $89,000 after purchasing an additional 371 shares during the last quarter. 76.10% of the stock is owned by hedge funds and other institutional investors.

A. O. Smith Trading Down 1.0%

Shares of NYSE AOS traded down $0.68 during midday trading on Friday, reaching $70.08. 1,111,708 shares of the stock were exchanged, compared to its average volume of 1,308,510. The company has a 50 day simple moving average of $66.58 and a 200 day simple moving average of $66.64. The stock has a market capitalization of $9.96 billion, a P/E ratio of 19.56, a PEG ratio of 1.51 and a beta of 1.20. 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 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 analysts' consensus estimates of $0.90 by $0.05. The business had revenue of $963.90 million during the quarter, compared to the consensus estimate 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 revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 EPS. As a group, equities analysts expect that A. O. Smith Corporation will post 3.76 earnings per share for the current year.

A. O. Smith Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.94%. A. O. Smith's dividend payout ratio is currently 37.99%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. 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 research report on Wednesday, April 30th. Citigroup reduced their price target on shares of A. O. Smith from $69.00 to $65.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. began coverage on shares of A. O. Smith in a report on Tuesday, June 24th. They issued a "neutral" rating and a $70.00 price objective for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of A. O. Smith in a report on Saturday, July 12th. Finally, Stifel Nicolaus increased their price objective on shares of A. O. Smith from $75.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, A. O. Smith currently has an average rating of "Hold" and a consensus target price of $75.29.

A. O. Smith 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.