Avantax Advisory Services Inc. Grows Holdings in A. O. Smith Corporation (NYSE:AOS)

Key Points

• Avantax Advisory Services Inc. increased its stake in A. O. Smith Corporation by 170.3%, acquiring an additional 13,728 shares during the first quarter, bringing its total holdings to 21,789 shares worth approximately $1.42 million.
• A. O. Smith reported a quarterly EPS of $1.07, exceeding analysts' expectations of $0.97, with revenues totaling $1.01 billion, marking a 1.3% decline year-over-year.
• The company declared a quarterly dividend of $0.34 per share, reflecting an annualized dividend yield of 1.9% and a payout ratio of 37.88%.

Avantax Advisory Services Inc. grew its holdings in A. O. Smith Corporation (NYSE:AOS - Free Report) by 170.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 21,789 shares of the industrial products company's stock after buying an additional 13,728 shares during the quarter. Avantax Advisory Services Inc.'s holdings in A. O. Smith were worth $1,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AOS. Impax Asset Management Group plc increased its position in A. O. Smith by 67.3% during the 1st quarter. Impax Asset Management Group plc now owns 5,188,561 shares of the industrial products company's stock valued at $339,124,000 after buying an additional 2,086,433 shares in the last quarter. Sarasin & Partners LLP purchased a new position in shares of A. O. Smith in the first quarter valued at about $74,180,000. Invesco Ltd. lifted its position 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 lifted its position 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 worth $42,787,000 after buying an additional 444,307 shares in the last quarter. Finally, First Trust Advisors LP lifted its position 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 worth $178,587,000 after buying an additional 417,595 shares in the last quarter. Hedge funds and other 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 that occurred on 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 sale, the chairman owned 100,647 shares in the company, valued at approximately $7,172,105.22. This trade represents a 18.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.76% of the company's stock.

A. O. Smith Stock Performance

NYSE AOS traded down $0.09 during trading hours on Tuesday, hitting $70.26. The company had a trading volume of 326,291 shares, compared to its average volume of 1,581,559. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.65. A. O. Smith Corporation has a 1-year low of $58.83 and a 1-year high of $92.06. The company has a market cap of $9.84 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 1.53 and a beta of 1.22. The business has a 50 day moving average of $67.13 and a 200-day moving average of $66.76.

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

A. O. Smith Dividend Announcement

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 given a dividend of $0.34 per share. 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 37.88%.

Analyst Ratings Changes

AOS has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of A. O. Smith in a research note on Tuesday, July 29th. Citigroup cut their price target on A. O. Smith from $69.00 to $65.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. UBS Group raised their price target on shares of A. O. Smith from $74.00 to $76.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Robert W. Baird lifted their price target on shares of A. O. Smith from $76.00 to $82.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. began coverage on A. O. Smith in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $70.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, A. O. Smith 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.