Zurcher Kantonalbank Zurich Cantonalbank Has $3.12 Million Holdings in A. O. Smith Corporation (NYSE:AOS)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in A. O. Smith by 58.7% in the first quarter, selling 67,935 shares and leaving it with 47,747 shares valued at approximately $3.1 million.
• A. O. Smith reported $1.07 earnings per share for the last quarter, beating estimates of $0.97, while its revenue was down 1.3% year-over-year.
• The company declared a quarterly dividend of $0.34 per share, resulting in an annualized yield of 1.9%, to be paid on August 15th to record shareholders.

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in A. O. Smith Corporation (NYSE:AOS - Free Report) by 58.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,747 shares of the industrial products company's stock after selling 67,935 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in A. O. Smith were worth $3,121,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AOS. Impax Asset Management Group plc grew its position in A. O. Smith by 67.3% in the 1st quarter. Impax Asset Management Group plc now owns 5,188,561 shares of the industrial products company's stock worth $339,124,000 after purchasing an additional 2,086,433 shares during the last quarter. Sarasin & Partners LLP bought a new position in shares of A. O. Smith in the first quarter valued at approximately $74,180,000. Invesco Ltd. boosted its holdings in shares of A. O. Smith by 26.8% in the fourth quarter. Invesco Ltd. now owns 4,704,295 shares of the industrial products company's stock valued at $320,880,000 after acquiring an additional 995,043 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of A. O. Smith by 242.8% in the fourth quarter. Voloridge Investment Management LLC now owns 627,282 shares of the industrial products company's stock valued at $42,787,000 after acquiring an additional 444,307 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of A. O. Smith by 19.0% in the fourth quarter. First Trust Advisors LP now owns 2,618,191 shares of the industrial products company's stock valued at $178,587,000 after acquiring an additional 417,595 shares in the last quarter. Institutional investors own 76.10% of the company's stock.

Insider Transactions at A. O. Smith

In related news, Chairman Kevin J. Wheeler sold 22,200 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were 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 in the company, valued at approximately $7,172,105.22. This trade represents a 18.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.76% of the company's stock.

A. O. Smith Stock Down 0.1%

AOS stock traded down $0.08 during midday trading on Monday, reaching $70.34. The company had a trading volume of 1,111,316 shares, compared to its average volume of 1,747,489. A. O. Smith Corporation has a 1 year low of $58.83 and a 1 year high of $92.06. The company has a current ratio of 1.65, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $9.86 billion, a P/E ratio of 19.59, a PEG ratio of 1.53 and a beta of 1.22. The company has a 50 day moving average of $67.06 and a two-hundred day moving average of $66.77.

A. O. Smith (NYSE:AOS - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The industrial products company reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.10. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $997.89 million. A. O. Smith had a net margin of 13.68% and a return on equity of 28.42%. A. O. Smith's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. On average, equities research analysts expect that A. O. Smith Corporation will post 3.76 earnings per share for the current fiscal year.

A. O. Smith Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be paid a $0.34 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.36 dividend on an annualized basis and a yield of 1.9%. A. O. Smith's dividend payout ratio (DPR) is presently 37.88%.

Wall Street Analyst Weigh In

AOS has been the subject of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of A. O. Smith from $78.00 to $81.00 and gave the company a "buy" rating in a report on Monday, July 21st. Citigroup decreased their price objective on shares of A. O. Smith from $69.00 to $65.00 and set a "neutral" rating for the company in a report on Monday, April 14th. UBS Group increased their price objective on shares of A. O. Smith from $74.00 to $76.00 and gave the company a "neutral" rating in a report on Monday, July 28th. JPMorgan Chase & Co. assumed 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. Finally, Weiss Ratings restated a "hold (c)" rating on shares of A. O. Smith in a report on Tuesday, July 29th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $77.43.

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.