M&T Bank Corp Sells 2,339 Shares of A. O. Smith Corporation (NYSE:AOS)

M&T Bank Corp lessened its position in shares of A. O. Smith Corporation (NYSE:AOS) by 28.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,808 shares of the industrial products company’s stock after selling 2,339 shares during the period. M&T Bank Corp’s holdings in A. O. Smith were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in A. O. Smith by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,117,943 shares of the industrial products company’s stock worth $962,985,000 after acquiring an additional 148,432 shares during the period. Impax Asset Management Group plc increased its holdings in A. O. Smith by 67.3% during the 1st quarter. Impax Asset Management Group plc now owns 5,188,561 shares of the industrial products company’s stock worth $339,124,000 after acquiring an additional 2,086,433 shares during the period. Invesco Ltd. increased its holdings in A. O. Smith by 26.8% during the 4th quarter. Invesco Ltd. now owns 4,704,295 shares of the industrial products company’s stock worth $320,880,000 after acquiring an additional 995,043 shares during the period. Geode Capital Management LLC increased its holdings in A. O. Smith by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 3,698,517 shares of the industrial products company’s stock worth $251,751,000 after acquiring an additional 111,612 shares during the period. Finally, First Trust Advisors LP increased its holdings in A. O. Smith by 19.0% during the 4th quarter. First Trust Advisors LP now owns 2,618,191 shares of the industrial products company’s stock worth $178,587,000 after acquiring an additional 417,595 shares during the period. Institutional investors own 76.10% of the company’s stock.

A. O. Smith Price Performance

Shares of AOS stock opened at $68.06 on Thursday. The firm has a market cap of $9.67 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.49 and a beta of 1.20. A. O. Smith Corporation has a fifty-two week low of $58.83 and a fifty-two week high of $92.45. The business’s 50 day moving average price is $66.53 and its 200-day moving average price is $66.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.61.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The firm had revenue of $963.90 million for the quarter, compared to analyst estimates of $950.56 million. A. O. Smith had a return on equity of 28.39% and a net margin of 13.74%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $1.00 EPS. On average, equities research analysts anticipate that A. O. Smith Corporation will post 3.76 earnings per share for the current year.

A. O. Smith Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be issued a $0.34 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.36 dividend on an annualized basis and a yield of 2.00%. A. O. Smith’s dividend payout ratio (DPR) is 37.99%.

Analyst Ratings Changes

Several equities research analysts have issued reports on AOS shares. Stifel Nicolaus lifted their target price on shares of A. O. Smith from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of A. O. Smith in a research report on Saturday, July 12th. Robert W. Baird increased their price target on shares of A. O. Smith from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. initiated coverage on A. O. Smith in a research note on Tuesday, June 24th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, Citigroup dropped their price objective on A. O. Smith from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.29.

About A. O. Smith

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.