Mutual of America Capital Management LLC Lowers Stock Holdings in A. O. Smith Corporation $AOS

Mutual of America Capital Management LLC cut its stake in shares of A. O. Smith Corporation (NYSE:AOS) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,333 shares of the industrial products company’s stock after selling 403 shares during the period. Mutual of America Capital Management LLC’s holdings in A. O. Smith were worth $874,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AOS. Impax Asset Management Group plc increased its holdings in shares of A. O. Smith by 67.3% in the first 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 purchasing an additional 2,086,433 shares during the period. American Century Companies Inc. grew its position in A. O. Smith by 998.6% in the 1st quarter. American Century Companies Inc. now owns 1,348,247 shares of the industrial products company’s stock valued at $88,121,000 after buying an additional 1,225,521 shares during the last quarter. Dimensional Fund Advisors LP grew its position in A. O. Smith by 35.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,670,567 shares of the industrial products company’s stock valued at $109,187,000 after buying an additional 438,291 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in A. O. Smith by 62.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,088,103 shares of the industrial products company’s stock valued at $71,118,000 after buying an additional 417,667 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in A. O. Smith during the 1st quarter worth $26,211,000. 76.10% of the stock is owned by institutional investors and hedge funds.

A. O. Smith Price Performance

Shares of NYSE:AOS opened at $68.60 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.65. The business’s fifty day moving average price is $71.60 and its two-hundred day moving average price is $68.87. The stock has a market cap of $9.61 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. A. O. Smith Corporation has a one year low of $58.83 and a one year high of $78.25.

A. O. Smith Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, October 31st. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.34. A. O. Smith’s dividend payout ratio is presently 37.88%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AOS shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of A. O. Smith in a report on Wednesday, October 8th. UBS Group reissued a “neutral” rating and set a $76.00 target price (up from $74.00) on shares of A. O. Smith in a research note on Monday, July 28th. Robert W. Baird raised their price target on A. O. Smith from $76.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Oppenheimer upped their price objective on A. O. Smith from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Finally, Stifel Nicolaus increased their price objective on A. O. Smith from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $77.00.

Insider Transactions at A. O. Smith

In other A. O. Smith news, Chairman Kevin J. Wheeler sold 22,200 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $71.26, for a total value of $1,581,972.00. Following the transaction, the chairman directly owned 100,647 shares in the company, valued at approximately $7,172,105.22. This represents a 18.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.76% of the company’s stock.

A. O. Smith 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.