Bank of Nova Scotia Boosts Position in A. O. Smith Co. (NYSE:AOS)

Bank of Nova Scotia raised its stake in A. O. Smith Co. (NYSE:AOSFree Report) by 33.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,338 shares of the industrial products company’s stock after buying an additional 3,844 shares during the period. Bank of Nova Scotia’s holdings in A. O. Smith were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. purchased a new stake in shares of A. O. Smith in the fourth quarter valued at approximately $1,258,000. Trust Point Inc. purchased a new stake in shares of A. O. Smith in the 4th quarter worth $4,047,000. TD Asset Management Inc grew its position in shares of A. O. Smith by 39.7% during the 4th quarter. TD Asset Management Inc now owns 79,075 shares of the industrial products company’s stock worth $6,519,000 after buying an additional 22,483 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of A. O. Smith by 24.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 246,964 shares of the industrial products company’s stock valued at $20,360,000 after buying an additional 48,325 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in shares of A. O. Smith by 217.9% in the fourth quarter. Teacher Retirement System of Texas now owns 31,025 shares of the industrial products company’s stock valued at $2,558,000 after acquiring an additional 21,266 shares in the last quarter. 76.10% of the stock is owned by hedge funds and other institutional investors.

A. O. Smith Stock Performance

Shares of AOS opened at $81.10 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06. The firm has a market cap of $11.89 billion, a PE ratio of 21.01, a P/E/G ratio of 2.24 and a beta of 1.18. A. O. Smith Co. has a 12 month low of $64.14 and a 12 month high of $89.96. The stock has a fifty day moving average price of $85.25 and a 200-day moving average price of $82.59.

A. O. Smith (NYSE:AOSGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. A. O. Smith had a return on equity of 30.94% and a net margin of 14.94%. The company had revenue of $978.80 million during the quarter, compared to analysts’ expectations of $995.91 million. During the same period last year, the business posted $0.94 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts predict that A. O. Smith Co. will post 4.08 earnings per share for the current fiscal year.

A. O. Smith Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.28 dividend on an annualized basis and a yield of 1.58%. A. O. Smith’s payout ratio is 33.16%.

Analyst Upgrades and Downgrades

A number of research firms have commented on AOS. Robert W. Baird raised their target price on shares of A. O. Smith from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. StockNews.com downgraded shares of A. O. Smith from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Jefferies Financial Group upped their target price on A. O. Smith from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Citigroup boosted their price target on A. O. Smith from $82.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus decreased their price objective on A. O. Smith from $91.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $90.67.

Read Our Latest Research Report on AOS

A. O. Smith Profile

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

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