Cresset Asset Management LLC Grows Stake in A. O. Smith Corporation $AOS

Key Points

• Cresset Asset Management LLC increased its position in A. O. Smith Corporation by 139.3% in the first quarter, owning approximately $13.55 million worth of shares.
• The company reported earnings per share of $1.07 for the last quarter, surpassing analysts' expectations of $0.97, despite a 1.3% decline in revenue year-over-year.
• A. O. Smith declared a quarterly dividend of $0.34, with an annualized yield of 1.9% and a payout ratio of 37.88%.

Cresset Asset Management LLC raised its stake in shares of A. O. Smith Corporation (NYSE:AOS - Free Report) by 139.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 207,360 shares of the industrial products company's stock after buying an additional 120,711 shares during the quarter. Cresset Asset Management LLC owned about 0.15% of A. O. Smith worth $13,553,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in A. O. Smith by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 178,543 shares of the industrial products company's stock valued at $11,670,000 after buying an additional 15,769 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in A. O. Smith by 41.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,089 shares of the industrial products company's stock valued at $463,000 after buying an additional 2,084 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in A. O. Smith by 75.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 402,039 shares of the industrial products company's stock valued at $26,277,000 after buying an additional 173,366 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in A. O. Smith by 18.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,085 shares of the industrial products company's stock valued at $528,000 after buying an additional 1,251 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in A. O. Smith by 3.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,532 shares of the industrial products company's stock valued at $363,000 after buying an additional 177 shares during the last quarter. Institutional investors and hedge funds own 76.10% of the company's stock.

A. O. Smith Trading Up 2.6%

Shares of AOS stock traded up $1.84 during mid-day trading on Friday, hitting $73.59. 240,123 shares of the company's stock were exchanged, compared to its average volume of 1,535,232. A. O. Smith Corporation has a fifty-two week low of $58.83 and a fifty-two week high of $92.06. The stock has a 50-day simple moving average of $68.92 and a two-hundred day simple moving average of $66.95. The company has a quick ratio of 1.03, a current ratio of 1.65 and a debt-to-equity ratio of 0.15. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.56 and a beta of 1.22.

A. O. Smith (NYSE:AOS - Get Free Report) last issued its earnings results on Thursday, July 24th. The industrial products company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.10. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $997.89 million. A. O. Smith had a return on equity of 28.42% and a net margin of 13.68%.The business's quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. A. O. Smith has set its FY 2025 guidance at 3.700-3.900 EPS. Equities analysts expect that A. O. Smith Corporation will post 3.76 EPS for the current fiscal year.

A. O. Smith Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, July 31st. A. O. Smith's dividend payout ratio (DPR) is 37.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AOS shares. UBS Group reiterated a "neutral" rating and set a $76.00 target price (up previously from $74.00) on shares of A. O. Smith in a report on Monday, July 28th. Robert W. Baird increased their target price on A. O. Smith from $76.00 to $82.00 and gave the company a "neutral" rating in a report on Friday, July 25th. JPMorgan Chase & Co. began coverage on A. O. Smith in a report on Tuesday, June 24th. They set a "neutral" rating and a $70.00 target price on the stock. Stifel Nicolaus raised their price objective on A. O. Smith from $78.00 to $81.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, Oppenheimer raised their price objective on A. O. Smith from $82.00 to $88.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $77.43.

Insider Buying and Selling at A. O. Smith

In related news, Chairman Kevin J. Wheeler sold 22,200 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $71.26, for a total value of $1,581,972.00. Following the transaction, the chairman directly owned 100,647 shares of the company's stock, valued at approximately $7,172,105.22. This trade represents a 18.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.76% of the company's stock.

About A. O. Smith

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.