Impax Asset Management Group plc Sells 200,614 Shares of A. O. Smith Corporation $AOS

Key Points

• Impax Asset Management trimmed its A. O. Smith stake by 4.1%, selling 200,614 shares and now holds 4,649,544 shares (~3.34% of the company) valued at about $310.96 million; AOS represents roughly 1.9% of Impax’s portfolio and is its 11th-largest position.
• Analyst sentiment is lukewarm: the consensus rating is "Hold" with an average target of $74.89 (2 Buys, 7 Holds, 1 Sell), and several firms have recently cut targets—Goldman Sachs to $61 and Citigroup to $74.
• A. O. Smith reported Q4 EPS of $0.90 (beating estimates by $0.06) while revenue slightly missed expectations, and the company declared a quarterly dividend of $0.36 ($1.44 annualized, ~2.2% yield).

Impax Asset Management Group plc trimmed its position in A. O. Smith Corporation (NYSE:AOS - Free Report) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,649,544 shares of the industrial products company's stock after selling 200,614 shares during the period. A. O. Smith makes up approximately 1.9% of Impax Asset Management Group plc's portfolio, making the stock its 11th biggest position. Impax Asset Management Group plc owned approximately 3.34% of A. O. Smith worth $310,962,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WealthPLAN Partners LLC increased its position in A. O. Smith by 1.3% in the 3rd quarter. WealthPLAN Partners LLC now owns 12,080 shares of the industrial products company's stock valued at $887,000 after buying an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in A. O. Smith by 17.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,130 shares of the industrial products company's stock valued at $83,000 after buying an additional 167 shares in the last quarter. True Wealth Design LLC boosted its stake in A. O. Smith by 37.8% during the 3rd quarter. True Wealth Design LLC now owns 613 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 168 shares during the last quarter. Allworth Financial LP boosted its stake in A. O. Smith by 24.8% during the 3rd quarter. Allworth Financial LP now owns 871 shares of the industrial products company's stock valued at $64,000 after purchasing an additional 173 shares during the last quarter. Finally, HBK Sorce Advisory LLC boosted its stake in A. O. Smith by 2.3% during the 3rd quarter. HBK Sorce Advisory LLC now owns 8,077 shares of the industrial products company's stock valued at $574,000 after purchasing an additional 184 shares during the last quarter. 76.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AOS. Jefferies Financial Group set a $75.00 price target on A. O. Smith and gave the company a "hold" rating in a research note on Friday, January 9th. Citigroup cut their price target on A. O. Smith from $78.00 to $74.00 and set a "neutral" rating for the company in a research note on Monday, April 13th. Wall Street Zen downgraded A. O. Smith from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Robert W. Baird set a $77.00 target price on A. O. Smith in a research note on Friday, January 30th. Finally, The Goldman Sachs Group cut their target price on A. O. Smith from $69.00 to $61.00 and set a "sell" rating on the stock in a research note on Monday, April 13th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $74.89.

Insider Buying and Selling at A. O. Smith

In other news, SVP Darrell W. Schuh sold 1,104 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $74.39, for a total value of $82,126.56. Following the transaction, the senior vice president owned 2,201 shares of the company's stock, valued at approximately $163,732.39. This represents a 33.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.50% of the company's stock.

A. O. Smith Price Performance

Shares of NYSE AOS opened at $64.42 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.50 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $8.91 billion, a PE ratio of 16.69, a PEG ratio of 1.36 and a beta of 1.35. The stock's 50 day moving average price is $68.92 and its 200-day moving average price is $69.14. A. O. Smith Corporation has a twelve month low of $62.14 and a twelve month high of $81.86.

A. O. Smith (NYSE:AOS - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.06. A. O. Smith had a net margin of 14.26% and a return on equity of 29.51%. The company had revenue of $912.50 million for the quarter, compared to analysts' expectations of $928.97 million. During the same quarter in the previous year, the firm posted $0.85 EPS. A. O. Smith's revenue was up .0% on a year-over-year basis. On average, equities analysts anticipate that A. O. Smith Corporation will post 3.98 EPS for the current year.

A. O. Smith Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $1.44 annualized dividend and a dividend yield of 2.2%. A. O. Smith's dividend payout ratio is presently 37.31%.

About A. O. Smith

A. O. Smith Corporation, based in Milwaukee, Wisconsin, is a leading manufacturer of water heating and water treatment products for residential and commercial applications. Since its founding in 1874, the company has built a reputation for producing reliable, energy-efficient water heaters, boilers and pressure vessels. Its product portfolio encompasses gas, electric, condensing and tankless water heaters, as well as specialty boilers designed to meet a variety of building and industrial needs.

The company operates through two primary segments: North America and Asia.

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