Berkshire Asset Management LLC PA Invests $26.22 Million in A. O. Smith Corporation $AOS

Key Points

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Berkshire Asset Management LLC PA bought a new position in shares of A. O. Smith Corporation (NYSE:AOS - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund 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.

Several other institutional investors and hedge funds have also modified their holdings of AOS. Impax Asset Management Group plc grew its position in shares of 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 valued at $339,124,000 after purchasing an additional 2,086,433 shares during the period. American Century Companies Inc. grew its position in shares of A. O. Smith by 998.6% in the 1st quarter. American Century Companies Inc. now owns 1,348,247 shares of the industrial products company's stock valued at $88,121,000 after purchasing an additional 1,225,521 shares during the period. Sarasin & Partners LLP acquired a new position in shares of A. O. Smith in the 1st quarter valued at approximately $74,180,000. Voloridge Investment Management LLC grew its position in shares of A. O. Smith by 242.8% in the 4th quarter. Voloridge Investment Management LLC now owns 627,282 shares of the industrial products company's stock valued at $42,787,000 after purchasing an additional 444,307 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of A. O. Smith by 35.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,670,567 shares of the industrial products company's stock valued at $109,187,000 after purchasing an additional 438,291 shares during the period. 76.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Kevin J. Wheeler sold 22,200 shares of the company's stock in a transaction that occurred 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 sale, the chairman owned 100,647 shares in the company, valued at $7,172,105.22. This represents a 18.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on AOS. Oppenheimer boosted their price objective on A. O. Smith from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. 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 price objective for the company. Robert W. Baird boosted their price objective on A. O. Smith from $76.00 to $82.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. UBS Group reaffirmed a "neutral" rating and set a $76.00 price target (up previously from $74.00) on shares of A. O. Smith in a research report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of A. O. Smith in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, A. O. Smith has a consensus rating of "Hold" and an average target price of $77.43.

A. O. Smith Stock Up 2.5%

NYSE:AOS traded up $1.79 during trading hours on Friday, reaching $73.54. 674,080 shares of the stock were exchanged, compared to its average volume of 1,538,042. A. O. Smith Corporation has a twelve month low of $58.83 and a twelve month high of $92.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.65 and a quick ratio of 1.03. The firm has a 50 day moving average of $68.92 and a 200 day moving average of $66.95. The stock has a market cap of $10.31 billion, a PE ratio of 20.48, a PEG ratio of 1.56 and a beta of 1.22.

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, topping analysts' consensus estimates of $0.97 by $0.10. A. O. Smith had a return on equity of 28.42% and a net margin of 13.68%.The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $997.89 million. During the same quarter in the prior year, the firm posted $1.06 EPS. The business's revenue was down 1.3% on a year-over-year basis. A. O. Smith has set its FY 2025 guidance at 3.700-3.900 EPS. On average, equities analysts expect that A. O. Smith Corporation will post 3.76 earnings per share for the current year.

A. O. Smith Announces Dividend

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

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.