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A. O. Smith Corporation (NYSE:AOS) Shares Sold by Forsta AP Fonden

A. O. Smith logo with Industrials background

Key Points

  • Forsta AP Fonden reduced its stake in A. O. Smith Corporation by 54.8% during Q1 2023, owning 23,800 shares worth approximately $1.56 million after selling 28,800 shares.
  • A. O. Smith's recent quarterly earnings showed an EPS of $1.07, exceeding analysts' expectations, but revenue was down 1.3% year-over-year.
  • The company declared a quarterly dividend of $0.34, scheduled for payment on August 15, reflecting an annual yield of 1.9%.
  • Looking to export and analyze A. O. Smith data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Forsta AP Fonden lessened its holdings in shares of A. O. Smith Corporation (NYSE:AOS - Free Report) by 54.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,800 shares of the industrial products company's stock after selling 28,800 shares during the period. Forsta AP Fonden's holdings in A. O. Smith were worth $1,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TCTC Holdings LLC increased its stake in A. O. Smith by 69.9% during the 1st quarter. TCTC Holdings LLC now owns 491 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 202 shares in the last quarter. Intact Investment Management Inc. purchased a new position in A. O. Smith in the 1st quarter worth $72,000. Private Trust Co. NA raised its stake in A. O. Smith by 22.1% in the 1st quarter. Private Trust Co. NA now owns 1,181 shares of the industrial products company's stock worth $77,000 after acquiring an additional 214 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in A. O. Smith in the 4th quarter worth $84,000. Finally, South Dakota Investment Council purchased a new position in A. O. Smith in the 1st quarter worth $92,000. Hedge funds and other institutional investors own 76.10% of the company's stock.

Insider Transactions at A. O. Smith

In other A. O. Smith news, Chairman Kevin J. Wheeler sold 22,200 shares of the 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 completion of the transaction, the chairman owned 100,647 shares of the company's stock, valued at $7,172,105.22. This 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 is available through this hyperlink. Insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of A. O. Smith in a research note on Thursday. 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 target price for the company. Stifel Nicolaus raised their target price on A. O. Smith from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Robert W. Baird lifted their price objective 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. Finally, Oppenheimer lifted their price objective on A. O. Smith from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $77.43.

Check Out Our Latest Report on AOS

A. O. Smith Price Performance

Shares of A. O. Smith stock traded down $0.34 on Friday, hitting $72.18. The company's stock had a trading volume of 1,251,606 shares, compared to its average volume of 1,561,360. 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 firm has a fifty day moving average price of $68.20 and a 200-day moving average price of $66.81. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 1.60 and a beta of 1.22.

A. O. Smith (NYSE:AOS - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The industrial products company reported $1.07 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $997.89 million. During the same quarter in the previous year, the business earned $1.06 EPS. A. O. Smith's revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that A. O. Smith Corporation will post 3.76 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, July 31st. A. O. Smith's payout ratio is presently 37.88%.

A. O. Smith Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for A. O. Smith (NYSE:AOS)

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