Veracity Capital LLC trimmed its holdings in A. O. Smith Co. (NYSE:AOS) by 4.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 19,831 shares of the industrial products company’s stock after selling 849 shares during the period. Veracity Capital LLC’s holdings in A. O. Smith were worth $1,341,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of AOS. FMR LLC raised its holdings in shares of A. O. Smith by 51.9% in the first quarter. FMR LLC now owns 813,266 shares of the industrial products company’s stock worth $43,364,000 after buying an additional 277,862 shares during the period. Truist Financial Corp increased its holdings in A. O. Smith by 3.1% during the 3rd quarter. Truist Financial Corp now owns 21,258 shares of the industrial products company’s stock worth $1,122,000 after purchasing an additional 640 shares during the period. Public Sector Pension Investment Board increased its holdings in A. O. Smith by 25.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 16,385 shares of the industrial products company’s stock worth $865,000 after purchasing an additional 3,300 shares during the period. AQR Capital Management LLC increased its holdings in A. O. Smith by 146.1% during the 3rd quarter. AQR Capital Management LLC now owns 281,394 shares of the industrial products company’s stock worth $14,858,000 after purchasing an additional 167,044 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in A. O. Smith during the 3rd quarter worth $289,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.
Several analysts have issued reports on the company. Stifel Nicolaus cut A. O. Smith from a “buy” rating to a “hold” rating and increased their target price for the company from $65.00 to $67.00 in a research report on Monday, April 5th. DA Davidson reissued a “buy” rating on shares of A. O. Smith in a research report on Tuesday, February 2nd. Zacks Investment Research raised A. O. Smith from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, March 30th. Finally, Rosenblatt Securities raised their price objective on A. O. Smith from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $59.25.
In related news, Director Idelle K. Wolf sold 1,970 shares of A. O. Smith stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $61.64, for a total value of $121,430.80. Following the sale, the director now directly owns 7,642 shares in the company, valued at approximately $471,052.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gene C. Wulf sold 15,000 shares of A. O. Smith stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $70.00, for a total value of $1,050,000.00. Following the completion of the sale, the director now owns 83,734 shares in the company, valued at $5,861,380. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,706 shares of company stock worth $3,198,179. 0.29% of the stock is currently owned by insiders.
Shares of NYSE AOS traded up $0.68 during trading on Monday, reaching $67.95. 9,545 shares of the company traded hands, compared to its average volume of 1,256,936. The firm’s fifty day simple moving average is $64.65 and its 200 day simple moving average is $57.96. The stock has a market cap of $10.99 billion, a P/E ratio of 34.50, a PEG ratio of 2.67 and a beta of 1.06. A. O. Smith Co. has a 12-month low of $37.92 and a 12-month high of $70.13. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 0.06.
A. O. Smith (NYSE:AOS) last released its quarterly earnings data on Wednesday, January 27th. The industrial products company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.15. The business had revenue of $834.50 million during the quarter, compared to analyst estimates of $769.10 million. A. O. Smith had a return on equity of 19.29% and a net margin of 11.25%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. As a group, research analysts expect that A. O. Smith Co. will post 2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 16th. Investors of record on Friday, January 29th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, January 28th. A. O. Smith’s payout ratio is 46.85%.
A. O. Smith Profile
A. O. Smith Corporation manufactures and markets residential and commercial gas 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; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtration products for residences, restaurants, hotels, and offices.
Featured Story: What is the S&P/ASX 200 Index?
Want to see what other hedge funds are holding AOS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for A. O. Smith Co. (NYSE:AOS).