A. O. Smith Corporation (NYSE:AOS) Shares Acquired by Heartland Advisors Inc.

Key Points

• Heartland Advisors Inc. raised its investment in A. O. Smith Corporation by 60.4%, now owning 166,151 shares valued at approximately $10.86 million as of their recent SEC filing.
• A. O. Smith reported earnings per share of $1.07 for the last quarter, exceeding analysts' expectations and indicating a year-over-year revenue decline of 1.3%.
• The company declared a quarterly dividend of $0.34, with a projected annual yield of 1.89% and a current dividend payout ratio of 37.99%.

Heartland Advisors Inc. lifted its stake in A. O. Smith Corporation (NYSE:AOS - Free Report) by 60.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 166,151 shares of the industrial products company's stock after buying an additional 62,572 shares during the quarter. Heartland Advisors Inc. owned approximately 0.12% of A. O. Smith worth $10,860,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC purchased a new stake in shares of A. O. Smith in the fourth quarter worth about $66,000. Intact Investment Management Inc. purchased a new position in A. O. Smith during the first quarter worth approximately $72,000. Private Trust Co. NA boosted its position in A. O. Smith by 22.1% during the first quarter. Private Trust Co. NA now owns 1,181 shares of the industrial products company's stock worth $77,000 after purchasing an additional 214 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in A. O. Smith during the fourth quarter worth approximately $84,000. Finally, South Dakota Investment Council purchased a new position in A. O. Smith during the first quarter worth approximately $92,000. Hedge funds and other institutional investors own 76.10% of the company's stock.

A. O. Smith Trading Down 0.3%

A. O. Smith stock traded down $0.20 during mid-day trading on Wednesday, hitting $71.45. The company's stock had a trading volume of 417,197 shares, compared to its average volume of 1,582,348. The firm has a market capitalization of $10.15 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20. A. O. Smith Corporation has a 1 year low of $58.83 and a 1 year high of $92.06. The company has a current ratio of 1.65, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average is $66.85 and its two-hundred day moving average is $66.80.

A. O. Smith (NYSE:AOS - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The industrial products company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.10. The company had revenue of $1.01 billion during 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 firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 earnings per share. On average, analysts anticipate that A. O. Smith Corporation will post 3.76 EPS for the current year.

A. O. Smith Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a $0.34 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.36 annualized dividend and a yield of 1.90%. A. O. Smith's payout ratio is 37.88%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Robert W. Baird increased their price target on A. O. Smith from $76.00 to $82.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Weiss Ratings reissued a "hold (c)" rating on shares of A. O. Smith in a report on Tuesday. Stifel Nicolaus increased their target price on A. O. Smith from $78.00 to $81.00 and gave the company a "buy" rating in a report on Monday, July 21st. JPMorgan Chase & Co. began coverage on A. O. Smith in a report on Tuesday, June 24th. They set a "neutral" rating and a $70.00 target price for the company. Finally, Citigroup reduced their target price on A. O. Smith from $69.00 to $65.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.