Nordea Investment Management AB Raises Stake in A. O. Smith Corporation $AOS

Nordea Investment Management AB boosted its position in A. O. Smith Corporation (NYSE:AOS - Free Report) by 32.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,327 shares of the industrial products company's stock after buying an additional 12,899 shares during the quarter. Nordea Investment Management AB's holdings in A. O. Smith were worth $3,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of A. O. Smith during the first quarter valued at approximately $26,000. TD Private Client Wealth LLC boosted its stake in shares of A. O. Smith by 143.7% during the second quarter. TD Private Client Wealth LLC now owns 446 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 263 shares during the period. National Pension Service boosted its stake in shares of A. O. Smith by 74.8% during the first quarter. National Pension Service now owns 458 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 196 shares during the period. TCTC Holdings LLC boosted its stake in shares of A. O. Smith by 69.9% during the first 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 during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of A. O. Smith by 161.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 539 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 333 shares during the period. 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 on Wednesday, July 30th. The stock was sold at an average price of $71.26, for a total value of $1,581,972.00. Following the completion of the transaction, the chairman owned 100,647 shares in the company, valued at approximately $7,172,105.22. This represents a 18.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.76% of the company's stock.

A. O. Smith Price Performance

Shares of A. O. Smith stock opened at $71.01 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.65 and a debt-to-equity ratio of 0.15. The company has a market cap of $9.95 billion, a PE ratio of 19.78, a P/E/G ratio of 1.52 and a beta of 1.30. The business has a 50 day moving average of $71.92 and a 200 day moving average of $68.61. A. O. Smith Corporation has a 52 week low of $58.83 and a 52 week high of $80.26.

A. O. Smith (NYSE:AOS - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.10. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 earnings per share. A. O. Smith has set its FY 2025 guidance at 3.700-3.900 EPS. As a group, equities research analysts forecast that A. O. Smith Corporation will post 3.76 earnings per share for the current year.

A. O. Smith Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.0%. This is a positive change from A. O. Smith's previous quarterly dividend of $0.34. The ex-dividend date is Friday, October 31st. A. O. Smith's dividend payout ratio is currently 37.88%.

Wall Street Analysts Forecast Growth

AOS has been the subject of a number of analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of A. O. Smith in a research note on Wednesday, October 8th. JPMorgan Chase & Co. initiated coverage on A. O. Smith in a research note on Tuesday, June 24th. They set a "neutral" rating and a $70.00 price objective for the company. Stifel Nicolaus increased their price objective on A. O. Smith from $78.00 to $81.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Oppenheimer upped their target price on A. O. Smith from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, Robert W. Baird upped their target price on A. O. Smith from $76.00 to $82.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, A. O. Smith has a consensus rating of "Hold" and a consensus target price of $77.43.

A. O. Smith Company 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.

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