New York State Teachers Retirement System trimmed its stake in A. O. Smith Corporation (NYSE:AOS - Free Report) by 9.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 87,128 shares of the industrial products company's stock after selling 9,610 shares during the quarter. New York State Teachers Retirement System owned approximately 0.06% of A. O. Smith worth $5,695,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. New Age Alpha Advisors LLC purchased a new position in shares of A. O. Smith during the fourth quarter valued at $66,000. Intact Investment Management Inc. purchased a new position in shares of A. O. Smith during the first quarter valued at $72,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of A. O. Smith during the fourth quarter valued at $84,000. Signaturefd LLC grew its holdings in shares of A. O. Smith by 40.0% during the fourth quarter. Signaturefd LLC now owns 1,299 shares of the industrial products company's stock valued at $89,000 after buying an additional 371 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of A. O. Smith by 40.4% during the first quarter. Parallel Advisors LLC now owns 1,571 shares of the industrial products company's stock valued at $103,000 after buying an additional 452 shares in the last quarter. 76.10% of the stock is currently owned by institutional investors and hedge funds.
A. O. Smith Trading Up 0.9%
AOS traded up $0.62 during mid-day trading on Tuesday, reaching $68.68. The stock had a trading volume of 416,497 shares, compared to its average volume of 1,293,196. The stock has a market capitalization of $9.76 billion, a P/E ratio of 19.18, a P/E/G 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 firm's fifty day simple moving average is $66.37 and its two-hundred day simple moving average is $66.58. A. O. Smith Corporation has a 52 week low of $58.83 and a 52 week high of $92.45.
A. O. Smith (NYSE:AOS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.95 EPS for the quarter, beating 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 firm had revenue of $963.90 million for the quarter, compared to analyst estimates of $950.56 million. During the same period last year, the company earned $1.00 EPS. The business's quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts predict that A. O. Smith Corporation will post 3.76 EPS for the current year.
A. O. Smith Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.98%. A. O. Smith's dividend payout ratio is currently 37.99%.
Analysts Set New Price Targets
A number of research firms recently issued reports on AOS. Robert W. Baird lifted their price objective on A. O. Smith from $75.00 to $76.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Stifel Nicolaus upped their price target on A. O. Smith from $75.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. initiated coverage on A. O. Smith in a report on Tuesday, June 24th. They issued a "neutral" rating and a $70.00 price target for the company. Citigroup dropped 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. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of A. O. Smith in a report on Friday, June 27th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, A. O. Smith has a consensus rating of "Hold" and an average target price of $75.29.
Get Our Latest Stock Analysis on A. O. Smith
About A. O. Smith
(
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.
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