Gabelli Funds LLC Reduces Position in A. O. Smith Co. (NYSE:AOS)

Gabelli Funds LLC lessened its holdings in shares of A. O. Smith Co. (NYSE:AOS) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,200 shares of the industrial products company’s stock after selling 1,300 shares during the period. Gabelli Funds LLC’s holdings in A. O. Smith were worth $1,986,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lecap Asset Management Ltd. purchased a new stake in A. O. Smith during the 4th quarter valued at about $1,258,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of A. O. Smith by 11.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 225,930 shares of the industrial products company’s stock worth $20,212,000 after acquiring an additional 22,859 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of A. O. Smith by 37.2% in the 4th quarter. Schroder Investment Management Group now owns 623,357 shares of the industrial products company’s stock worth $51,390,000 after acquiring an additional 168,911 shares during the last quarter. Trust Point Inc. acquired a new position in shares of A. O. Smith in the 4th quarter worth approximately $4,047,000. Finally, TD Asset Management Inc lifted its holdings in shares of A. O. Smith by 39.7% in the 4th quarter. TD Asset Management Inc now owns 79,075 shares of the industrial products company’s stock worth $6,519,000 after acquiring an additional 22,483 shares during the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.

A. O. Smith Stock Up 2.8 %

Shares of NYSE:AOS traded up $2.32 during trading hours on Friday, reaching $84.50. The stock had a trading volume of 1,149,759 shares, compared to its average volume of 1,120,774. A. O. Smith Co. has a 1 year low of $64.14 and a 1 year high of $92.44. The firm’s 50 day moving average is $83.59 and its 200-day moving average is $83.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.06 and a current ratio of 1.70. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 2.31 and a beta of 1.15.

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

A. O. Smith Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Wednesday, July 31st. A. O. Smith’s dividend payout ratio (DPR) is 33.16%.

Analysts Set New Price Targets

AOS has been the topic of several recent analyst reports. Oppenheimer restated a “market perform” rating on shares of A. O. Smith in a report on Thursday, April 18th. Jefferies Financial Group upped their price objective on shares of A. O. Smith from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, April 12th. UBS Group upped their price objective on shares of A. O. Smith from $73.00 to $75.00 and gave the stock a “sell” rating in a report on Monday, July 8th. Stifel Nicolaus upgraded shares of A. O. Smith from a “hold” rating to a “buy” rating and increased their target price for the stock from $97.00 to $98.00 in a report on Wednesday. Finally, Citigroup increased their target price on shares of A. O. Smith from $82.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.29.

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.