Mackenzie Financial Corp Decreases Stock Position in A. O. Smith Co. (NYSE:AOS)

Mackenzie Financial Corp decreased its holdings in A. O. Smith Co. (NYSE:AOSGet Rating) by 92.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,036 shares of the industrial products company’s stock after selling 622,722 shares during the period. Mackenzie Financial Corp’s holdings in A. O. Smith were worth $2,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lumature Wealth Partners LLC increased its stake in A. O. Smith by 24.3% in the second quarter. Lumature Wealth Partners LLC now owns 4,137 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 808 shares during the period. Cerity Partners LLC increased its stake in A. O. Smith by 53.5% in the second quarter. Cerity Partners LLC now owns 5,886 shares of the industrial products company’s stock worth $321,000 after purchasing an additional 2,052 shares during the period. Qtron Investments LLC purchased a new stake in A. O. Smith in the second quarter worth $403,000. Pictet Asset Management SA increased its stake in A. O. Smith by 3.2% in the second quarter. Pictet Asset Management SA now owns 4,332,544 shares of the industrial products company’s stock worth $236,931,000 after purchasing an additional 136,285 shares during the period. Finally, SeaCrest Wealth Management LLC purchased a new stake in A. O. Smith in the second quarter worth $137,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

A. O. Smith Price Performance

Shares of AOS stock opened at $61.40 on Tuesday. A. O. Smith Co. has a 1-year low of $46.58 and a 1-year high of $86.74. The stock’s 50-day moving average is $53.02 and its 200 day moving average is $56.63. The company has a market cap of $9.38 billion, a P/E ratio of 19.49, a PEG ratio of 2.21 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.74 and a quick ratio of 1.16.

A. O. Smith (NYSE:AOSGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The industrial products company reported $0.69 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.69. A. O. Smith had a return on equity of 27.67% and a net margin of 12.99%. The company had revenue of $874.20 million for the quarter, compared to the consensus estimate of $874.04 million. During the same quarter last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. Research analysts predict that A. O. Smith Co. will post 3.09 earnings per share for the current fiscal year.

A. O. Smith Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st were paid a $0.30 dividend. The ex-dividend date was Friday, October 28th. This is a boost from A. O. Smith’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 1.95%. A. O. Smith’s dividend payout ratio (DPR) is 38.10%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. StockNews.com lowered A. O. Smith from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Citigroup dropped their price target on A. O. Smith from $65.00 to $54.00 in a research report on Monday, October 10th. DA Davidson dropped their price target on A. O. Smith from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 19th. Finally, Stifel Nicolaus dropped their price target on A. O. Smith from $63.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 11th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.14.

A. O. Smith Company Profile

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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 and motels, 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.

See Also

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

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