Envestnet Asset Management Inc. raised its stake in A. O. Smith Corporation (NYSE:AOS – Free Report) by 75.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402,039 shares of the industrial products company’s stock after purchasing an additional 173,366 shares during the period. Envestnet Asset Management Inc. owned about 0.28% of A. O. Smith worth $26,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of A. O. Smith by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 14,117,943 shares of the industrial products company’s stock valued at $962,985,000 after acquiring an additional 148,432 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of A. O. Smith by 67.3% in the 1st quarter. Impax Asset Management Group plc now owns 5,188,561 shares of the industrial products company’s stock valued at $339,124,000 after acquiring an additional 2,086,433 shares during the last quarter. Invesco Ltd. increased its holdings in shares of A. O. Smith by 26.8% in the 4th quarter. Invesco Ltd. now owns 4,704,295 shares of the industrial products company’s stock valued at $320,880,000 after acquiring an additional 995,043 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of A. O. Smith by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 3,698,517 shares of the industrial products company’s stock valued at $251,751,000 after acquiring an additional 111,612 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of A. O. Smith by 19.0% in the 4th quarter. First Trust Advisors LP now owns 2,618,191 shares of the industrial products company’s stock valued at $178,587,000 after acquiring an additional 417,595 shares during the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.
A. O. Smith Stock Down 0.3%
A. O. Smith stock opened at $68.86 on Tuesday. A. O. Smith Corporation has a twelve month low of $58.83 and a twelve month high of $92.45. The stock has a 50 day moving average of $66.50 and a two-hundred day moving average of $66.60. The company has a current ratio of 1.61, a quick ratio of 1.01 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.53 and a beta of 1.20.
A. O. Smith Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.36 annualized dividend and a dividend yield of 1.98%. A. O. Smith’s dividend payout ratio is currently 37.99%.
Analyst Ratings Changes
A number of research analysts recently issued reports on AOS shares. Stifel Nicolaus raised their price target on A. O. Smith from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. started coverage on A. O. Smith in a research note on Tuesday, June 24th. They set a “neutral” rating and a $70.00 price target on the stock. Robert W. Baird raised their price target on A. O. Smith from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Citigroup dropped their price target on A. O. Smith from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of A. O. Smith in a research note on Saturday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, A. O. Smith currently has a consensus rating of “Hold” and a consensus price target of $75.29.
Read Our Latest Stock Analysis on A. O. Smith
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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