DNB Asset Management AS Raises Stock Holdings in A. O. Smith Co. (NYSE:AOS)

DNB Asset Management AS raised its position in A. O. Smith Co. (NYSE:AOS) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,384 shares of the industrial products company’s stock after buying an additional 2,674 shares during the quarter. DNB Asset Management AS’s holdings in A. O. Smith were worth $2,485,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AOS. Algebris UK Ltd raised its stake in shares of A. O. Smith by 2.3% during the first quarter. Algebris UK Ltd now owns 6,109 shares of the industrial products company’s stock worth $506,000 after purchasing an additional 140 shares during the last quarter. Empirical Finance LLC raised its stake in shares of A. O. Smith by 3.3% during the first quarter. Empirical Finance LLC now owns 4,618 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 149 shares during the last quarter. United Asset Strategies Inc. raised its stake in shares of A. O. Smith by 1.5% during the first quarter. United Asset Strategies Inc. now owns 10,156 shares of the industrial products company’s stock worth $909,000 after purchasing an additional 152 shares during the last quarter. American International Group Inc. raised its stake in shares of A. O. Smith by 0.5% during the fourth quarter. American International Group Inc. now owns 33,231 shares of the industrial products company’s stock worth $2,740,000 after purchasing an additional 163 shares during the last quarter. Finally, Scotia Capital Inc. raised its stake in shares of A. O. Smith by 2.4% during the fourth quarter. Scotia Capital Inc. now owns 7,726 shares of the industrial products company’s stock worth $637,000 after purchasing an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.

A. O. Smith Price Performance

A. O. Smith stock traded up $0.01 during trading hours on Tuesday, hitting $81.66. The stock had a trading volume of 850,938 shares, compared to its average volume of 965,151. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.70 and a quick ratio of 1.07. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 2.25 and a beta of 1.15. A. O. Smith Co. has a 1-year low of $64.14 and a 1-year high of $92.44. The stock’s fifty day moving average is $83.42 and its two-hundred day moving average is $83.99.

A. O. Smith (NYSE:AOS) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. As a group, analysts predict that A. O. Smith Co. will post 4.07 earnings per share for the current fiscal year.

A. O. Smith Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, July 31st. A. O. Smith’s payout ratio is currently 33.16%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus upgraded A. O. Smith from a “hold” rating to a “buy” rating and upped their price target for the stock from $97.00 to $98.00 in a research note on Wednesday, July 24th. StockNews.com cut A. O. Smith from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup increased their price objective 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. UBS Group increased their price objective on A. O. Smith from $73.00 to $75.00 and gave the stock a “sell” rating in a research report on Monday, July 8th. Finally, Robert W. Baird cut their price objective on A. O. Smith from $92.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.67.

Insider Activity at A. O. Smith

In related news, Director Ronald D. Brown 3,631 shares of A. O. Smith stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.70% of the company’s stock.

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.