A. O. Smith Corporation (NYSE:AOS) Stake Lowered by Bessemer Group Inc.

Bessemer Group Inc. reduced its position in A. O. Smith Corporation (NYSE:AOS - Free Report) by 74.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,962 shares of the industrial products company's stock after selling 23,507 shares during the period. Bessemer Group Inc.'s holdings in A. O. Smith were worth $521,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. New Age Alpha Advisors LLC purchased a new position in A. O. Smith during the fourth quarter worth $66,000. Intact Investment Management Inc. purchased a new position in A. O. Smith during the first quarter worth $72,000. Canada Post Corp Registered Pension Plan purchased a new position in A. O. Smith during the fourth quarter worth $84,000. Signaturefd LLC grew its position in shares of A. O. Smith by 40.0% in the fourth quarter. Signaturefd LLC now owns 1,299 shares of the industrial products company's stock valued at $89,000 after purchasing an additional 371 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of A. O. Smith by 40.4% in the first quarter. Parallel Advisors LLC now owns 1,571 shares of the industrial products company's stock valued at $103,000 after purchasing an additional 452 shares during the period. 76.10% of the stock is owned by hedge funds and other institutional investors.

A. O. Smith Stock Down 0.2%

Shares of NYSE AOS traded down $0.17 during midday trading on Friday, reaching $67.92. 658,943 shares of the company's stock were exchanged, compared to its average volume of 1,293,615. A. O. Smith Corporation has a 52-week low of $58.83 and a 52-week high of $92.45. The stock has a market capitalization of $9.65 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.61. The business's fifty day moving average price is $66.30 and its two-hundred day moving average price is $66.62.

A. O. Smith (NYSE:AOS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. A. O. Smith had a return on equity of 28.39% and a net margin of 13.74%. The business had revenue of $963.90 million for the quarter, compared to analyst estimates of $950.56 million. During the same period in the previous year, the company earned $1.00 earnings per share. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts forecast that A. O. Smith Corporation will post 3.76 EPS for the current year.

A. O. Smith Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.00%. The ex-dividend date was Wednesday, April 30th. A. O. Smith's dividend payout ratio is currently 37.99%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. assumed 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. Stifel Nicolaus lifted their target price on A. O. Smith from $75.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Citigroup reduced their target price on A. O. Smith from $69.00 to $65.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Robert W. Baird lifted their target price on A. O. Smith from $75.00 to $76.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of A. O. Smith in a report on Friday, June 27th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, A. O. Smith currently has a consensus rating of "Hold" and an average price target of $75.29.

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.