Ameriprise Financial Inc. Reduces Stake in A. O. Smith Co. (NYSE:AOS)

Ameriprise Financial Inc. trimmed its position in A. O. Smith Co. (NYSE:AOS - Free Report) by 91.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,930 shares of the industrial products company's stock after selling 967,926 shares during the period. Ameriprise Financial Inc. owned 0.06% of A. O. Smith worth $6,271,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AOS. New Age Alpha Advisors LLC bought a new stake in shares of A. O. Smith during the 4th quarter worth $66,000. Canada Post Corp Registered Pension Plan bought a new stake in A. O. Smith in the fourth quarter worth $84,000. Signaturefd LLC lifted its stake in A. O. Smith by 40.0% in the fourth 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. Headlands Technologies LLC bought a new stake in A. O. Smith in the fourth quarter worth $201,000. Finally, Arrowroot Family Office LLC bought a new stake in A. O. Smith in the fourth quarter worth $206,000. 76.10% of the stock is owned by institutional investors.

A. O. Smith Stock Up 0.7%

Shares of NYSE:AOS traded up $0.43 during trading on Thursday, hitting $64.66. The stock had a trading volume of 2,027,633 shares, compared to its average volume of 1,190,740. A. O. Smith Co. has a 12 month low of $58.83 and a 12 month high of $92.45. The company has a market capitalization of $9.19 billion, a PE ratio of 17.81, a PEG ratio of 1.46 and a beta of 1.28. The firm's fifty day moving average is $65.79 and its 200 day moving average is $68.10. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 0.10.

A. O. Smith (NYSE:AOS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. A. O. Smith had a return on equity of 28.87% and a net margin of 13.98%. The company had revenue of $963.90 million during the quarter, compared to analyst estimates of $950.56 million. During the same quarter last year, the company earned $1.00 EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. Analysts anticipate that A. O. Smith Co. will post 3.76 EPS for the current fiscal year.

A. O. Smith Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Wednesday, April 30th. A. O. Smith's dividend payout ratio (DPR) is presently 37.99%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wall Street Zen raised shares of A. O. Smith from a "hold" rating to a "buy" rating in a research note on Friday, January 31st. Stifel Nicolaus boosted their price target on shares of A. O. Smith from $75.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of A. O. Smith in a research note on Saturday, May 24th. Robert W. Baird upped their price objective on shares of A. O. Smith from $75.00 to $76.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, Citigroup lowered their price target on 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, A. O. Smith presently has a consensus rating of "Hold" and an average target price of $76.17.

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.