Cresset Asset Management LLC Has $13.55 Million 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 boosted its position in shares of A. O. Smith Corporation (NYSE:AOS - Free Report) by 139.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,360 shares of the industrial products company's stock after acquiring an additional 120,711 shares during the period. Cresset Asset Management LLC owned 0.15% of A. O. Smith worth $13,553,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AOS. Raymond James Financial Inc. acquired a new position in shares of A. O. Smith during the 4th quarter worth about $7,015,000. Sterling Capital Management LLC increased its position in A. O. Smith by 56.7% in the 4th quarter. Sterling Capital Management LLC now owns 7,124 shares of the industrial products company's stock worth $486,000 after buying an additional 2,578 shares during the period. Townsquare Capital LLC acquired a new position in shares of A. O. Smith during the fourth quarter worth approximately $675,000. Barclays PLC boosted its position in shares of A. O. Smith by 4.8% in the fourth quarter. Barclays PLC now owns 252,889 shares of the industrial products company's stock valued at $17,249,000 after acquiring an additional 11,560 shares during the period. Finally, Cadence Bank grew its stake in shares of A. O. Smith by 22.7% in the fourth quarter. Cadence Bank now owns 10,963 shares of the industrial products company's stock worth $748,000 after acquiring an additional 2,025 shares during the last quarter. 76.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AOS shares. JPMorgan Chase & Co. began coverage on shares of 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. Robert W. Baird boosted their price objective on shares of A. O. Smith from $76.00 to $82.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of A. O. Smith in a research note on Thursday, August 14th. Oppenheimer lifted their target price on A. O. Smith from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, Stifel Nicolaus upped their price target on A. O. Smith from $78.00 to $81.00 and gave the company a "buy" rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $77.43.

A. O. Smith Price Performance

AOS traded down $0.9440 during midday trading on Wednesday, reaching $71.8760. 847,705 shares of the company's stock were exchanged, compared to its average volume of 1,548,667. 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 business has a 50-day simple moving average of $68.64 and a two-hundred day simple moving average of $66.89. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. A. O. Smith Corporation has a one year low of $58.83 and a one year high of $92.06.

A. O. Smith (NYSE:AOS - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The industrial products company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.10. The company 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 company's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 EPS. A. O. Smith has set its FY 2025 guidance at 3.700-3.900 EPS. As a group, research analysts predict that A. O. Smith Corporation will post 3.76 EPS for the current year.

A. O. Smith Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 31st. A. O. Smith's payout ratio is currently 37.88%.

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 dated Wednesday, July 30th. The shares were sold at an average price of $71.26, for a total transaction of $1,581,972.00. Following the completion of the sale, the chairman owned 100,647 shares in the company, valued at $7,172,105.22. This trade represents a 18.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.