Nuveen LLC Invests $18.97 Million in A. O. Smith Corporation $AOS

Key Points

• Nuveen LLC acquired a new position in A. O. Smith Corporation, purchasing 290,254 shares valued at approximately $18.97 million, representing about 0.20% of the company.
• A. O. Smith announced a quarterly dividend of $0.34 per share, with a current yield of 1.9% and a payout ratio of 37.88%.
• Despite a 1.3% decline in quarterly revenue compared to the prior year, the company reported earnings per share of $1.07, exceeding analyst estimates.

Nuveen LLC acquired a new position in A. O. Smith Corporation (NYSE:AOS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 290,254 shares of the industrial products company's stock, valued at approximately $18,971,000. Nuveen LLC owned approximately 0.20% of A. O. Smith at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AOS. TCTC Holdings LLC boosted its holdings in A. O. Smith by 69.9% in the first quarter. TCTC Holdings LLC now owns 491 shares of the industrial products company's stock worth $32,000 after purchasing an additional 202 shares in the last quarter. Intact Investment Management Inc. bought a new stake in A. O. Smith during the first quarter valued at about $72,000. Private Trust Co. NA boosted its holdings 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 valued at $77,000 after acquiring an additional 214 shares during the period. South Dakota Investment Council bought a new stake in A. O. Smith during the first quarter valued at about $92,000. Finally, Parallel Advisors LLC boosted its holdings in 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 acquiring an additional 452 shares during the period. 76.10% of the stock is currently owned by institutional investors.

Insider Transactions at A. O. Smith

In related news, Chairman Kevin J. Wheeler sold 22,200 shares of the stock in a transaction dated Wednesday, July 30th. The shares were 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 of the company's stock, valued at $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 SEC, which is available at this hyperlink. 0.76% of the stock is owned by company insiders.

A. O. Smith Stock Performance

Shares of NYSE AOS traded down $1.0170 during mid-day trading on Monday, hitting $72.5930. The company had a trading volume of 624,989 shares, compared to its average volume of 1,149,077. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.65 and a quick ratio of 1.03. The business's 50-day simple moving average is $69.28 and its 200-day simple moving average is $67.08. A. O. Smith Corporation has a 12 month low of $58.83 and a 12 month high of $92.06. The firm has a market cap of $10.17 billion, a P/E ratio of 20.22, a PEG ratio of 1.60 and a beta of 1.22.

A. O. Smith (NYSE:AOS - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.10. A. O. Smith had a net margin of 13.68% and a return on equity of 28.42%. 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 prior year, the business posted $1.06 earnings per share. The company's quarterly revenue was down 1.3% compared to the same quarter last year. A. O. Smith has set its FY 2025 guidance at 3.700-3.900 EPS. As a group, analysts predict that A. O. Smith Corporation will post 3.76 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 31st. A. O. Smith's dividend payout ratio is 37.88%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AOS. Wall Street Zen upgraded shares of A. O. Smith from a "hold" rating to a "buy" rating in a report on Friday. UBS Group restated a "neutral" rating and set a $76.00 price target (up from $74.00) on shares of A. O. Smith in a report on Monday, July 28th. Oppenheimer upped their price target on shares of A. O. Smith from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, July 28th. JPMorgan Chase & Co. began coverage on shares of A. O. Smith in a report on Tuesday, June 24th. They set a "neutral" rating and a $70.00 price target for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of A. O. Smith in a report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.