Edgestream Partners L.P. Makes New Investment in A. O. Smith Co. (NYSE:AOS)

Edgestream Partners L.P. bought a new position in shares of A. O. Smith Co. (NYSE:AOSFree Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 22,471 shares of the industrial products company’s stock, valued at approximately $1,635,000.

Several other hedge funds also recently bought and sold shares of AOS. Addison Advisors LLC lifted its position in shares of A. O. Smith by 93.6% during the first quarter. Addison Advisors LLC now owns 457 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 221 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of A. O. Smith during the second quarter worth about $38,000. Global Retirement Partners LLC lifted its position in shares of A. O. Smith by 344.1% during the first quarter. Global Retirement Partners LLC now owns 906 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 702 shares in the last quarter. Tradition Wealth Management LLC acquired a new stake in shares of A. O. Smith during the first quarter worth about $90,000. Finally, ING Groep NV acquired a new stake in shares of A. O. Smith during the first quarter worth about $101,000. Hedge funds and other institutional investors own 74.48% of the company’s stock.

Insider Transactions at A. O. Smith

In other news, CEO Kevin J. Wheeler sold 12,917 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $69.09, for a total transaction of $892,435.53. Following the transaction, the chief executive officer now directly owns 71,463 shares in the company, valued at $4,937,378.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kevin J. Wheeler sold 12,917 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $69.09, for a total transaction of $892,435.53. Following the transaction, the chief executive officer now directly owns 71,463 shares in the company, valued at $4,937,378.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP James F. Stern sold 8,118 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $72.00, for a total transaction of $584,496.00. Following the transaction, the vice president now owns 128,118 shares in the company, valued at $9,224,496. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,942 shares of company stock worth $10,373,752. Insiders own 0.70% of the company’s stock.

A. O. Smith Stock Performance

Shares of A. O. Smith stock opened at $76.11 on Tuesday. The firm has a market capitalization of $11.32 billion, a P/E ratio of 38.06, a P/E/G ratio of 2.23 and a beta of 1.26. A. O. Smith Co. has a 52 week low of $55.41 and a 52 week high of $76.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $69.04 and its two-hundred day moving average is $70.19.

A. O. Smith (NYSE:AOSGet Free Report) last announced its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.79 by $0.11. The company had revenue of $937.50 million for the quarter, compared to analyst estimates of $910.81 million. A. O. Smith had a net margin of 7.87% and a return on equity of 30.76%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. Research analysts forecast that A. O. Smith Co. will post 3.77 EPS for the current fiscal year.

A. O. Smith Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were given a dividend of $0.32 per share. The ex-dividend date was Monday, October 30th. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.68%. A. O. Smith’s dividend payout ratio (DPR) is 64.00%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AOS. Stifel Nicolaus reissued a “hold” rating and set a $80.00 price target on shares of A. O. Smith in a research report on Tuesday, September 12th. StockNews.com assumed coverage on shares of A. O. Smith in a research report on Thursday, October 5th. They set a “buy” rating on the stock. DA Davidson raised their target price on shares of A. O. Smith from $82.00 to $87.00 in a report on Friday, July 28th. Finally, Seaport Res Ptn reaffirmed a “neutral” rating on shares of A. O. Smith in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $70.29.

Check Out Our Latest Stock Analysis on A. O. Smith

A. O. Smith Profile

(Free Report)

A. O. Smith Corporation manufactures and markets residential and commercial gas, heat pump and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels, office buildings, laundries, car washes, and small businesses; commercial boilers for hospitals, schools, hotels, and other large commercial buildings, as well as residential boilers for homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, on-the-go filtration bottles, point-of-use carbon, and reverse osmosis products for residences, restaurants, hotels, and offices.

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Institutional Ownership by Quarter for A. O. Smith (NYSE:AOS)

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