Berkshire Asset Management LLC PA Buys Shares of 385,579 A. O. Smith Corporation $AOS

Key Points

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Berkshire Asset Management LLC PA bought a new position in A. O. Smith Corporation (NYSE:AOS - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 385,579 shares of the industrial products company's stock, valued at approximately $26,223,000. Berkshire Asset Management LLC PA owned 0.27% of A. O. Smith at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. National Pension Service lifted its holdings in shares of A. O. Smith by 74.8% in the 1st quarter. National Pension Service now owns 458 shares of the industrial products company's stock worth $30,000 after buying an additional 196 shares during the period. TCTC Holdings LLC lifted its stake in shares of A. O. Smith by 69.9% during the 1st quarter. TCTC Holdings LLC now owns 491 shares of the industrial products company's stock worth $32,000 after purchasing an additional 202 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of A. O. Smith by 161.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 539 shares of the industrial products company's stock worth $35,000 after purchasing an additional 333 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of A. O. Smith during the 1st quarter worth $64,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of A. O. Smith during the 1st quarter worth $72,000. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other A. O. Smith news, Chairman Kevin J. Wheeler sold 22,200 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $71.26, for a total transaction of $1,581,972.00. Following the transaction, the chairman owned 100,647 shares of the company's stock, valued at approximately $7,172,105.22. The trade was a 18.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.76% of the company's stock.

A. O. Smith Price Performance

Shares of NYSE:AOS traded up $1.79 during trading on Friday, reaching $73.54. The stock had a trading volume of 674,080 shares, compared to its average volume of 1,149,077. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.65. The business has a fifty day moving average price of $69.12 and a 200-day moving average price of $67.03. The stock has a market cap of $10.31 billion, a PE ratio of 20.48, a PEG ratio of 1.60 and a beta of 1.22. A. O. Smith Corporation has a 1-year low of $58.83 and a 1-year high of $92.06.

A. O. Smith (NYSE:AOS - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.10. The firm 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 revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share. A. O. Smith has set its FY 2025 guidance at 3.700-3.900 EPS. On average, equities analysts forecast that A. O. Smith Corporation will post 3.76 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.36 dividend on an annualized basis and a yield of 1.8%. A. O. Smith's payout ratio is 37.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on A. O. Smith in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $70.00 price target for the company. Robert W. Baird increased their price target on A. O. Smith from $76.00 to $82.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. UBS Group restated a "neutral" rating and issued a $76.00 price objective (up from $74.00) on shares of A. O. Smith in a research note on Monday, July 28th. Wall Street Zen upgraded A. O. Smith from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of A. O. Smith in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $77.43.

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.