Mitsubishi UFJ Asset Management Co. Ltd. Reduces Position in A. O. Smith Co. (NYSE:AOS)

Mitsubishi UFJ Asset Management Co. Ltd. reduced its position in A. O. Smith Co. (NYSE:AOS) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,071 shares of the industrial products company’s stock after selling 4,481 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in A. O. Smith were worth $15,984,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. bought a new position in A. O. Smith during the 4th quarter worth about $217,000. USA Financial Formulas bought a new position in shares of A. O. Smith during the fourth quarter valued at approximately $357,000. Dimensional Fund Advisors LP increased its holdings in A. O. Smith by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,212,966 shares of the industrial products company’s stock valued at $99,996,000 after buying an additional 15,698 shares during the period. QRG Capital Management Inc. raised its stake in A. O. Smith by 8.1% in the fourth quarter. QRG Capital Management Inc. now owns 9,960 shares of the industrial products company’s stock worth $821,000 after buying an additional 743 shares in the last quarter. Finally, AGF Management Ltd. lifted its holdings in A. O. Smith by 2.9% during the fourth quarter. AGF Management Ltd. now owns 27,484 shares of the industrial products company’s stock worth $2,266,000 after buying an additional 766 shares during the period. Institutional investors own 76.10% of the company’s stock.

A. O. Smith Stock Up 0.4 %

AOS stock opened at $85.68 on Friday. A. O. Smith Co. has a one year low of $63.88 and a one year high of $89.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.06 and a current ratio of 1.65. The firm’s fifty day moving average is $86.42 and its 200 day moving average is $81.55. The firm has a market cap of $12.57 billion, a PE ratio of 22.20, a P/E/G ratio of 2.32 and a beta of 1.27.

A. O. Smith (NYSE:AOS) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. The firm had revenue of $978.80 million for the quarter, compared to analysts’ expectations of $995.91 million. A. O. Smith had a return on equity of 30.94% and a net margin of 14.94%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.94 EPS. On average, research analysts forecast that A. O. Smith Co. will post 4.08 EPS for the current year.

A. O. Smith Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, April 29th. A. O. Smith’s payout ratio is 33.16%.

Analyst Upgrades and Downgrades

AOS has been the subject of several recent research reports. Citigroup boosted their price target 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. Stifel Nicolaus cut their price target on shares of A. O. Smith from $91.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. StockNews.com downgraded A. O. Smith from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Oppenheimer reissued a “market perform” rating on shares of A. O. Smith in a research report on Thursday, April 18th. Finally, Jefferies Financial Group boosted their target price on shares of A. O. Smith from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.67.

Insider Activity

In related news, Director Ajita G. Rajendra sold 24,669 shares of A. O. Smith stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $83.02, for a total value of $2,048,020.38. Following the sale, the director now directly owns 56,951 shares in the company, valued at approximately $4,728,072.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Ajita G. Rajendra sold 24,669 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $83.02, for a total value of $2,048,020.38. Following the completion of the sale, the director now directly owns 56,951 shares in the company, valued at $4,728,072.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Robert J. Heideman sold 9,890 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $84.63, for a total transaction of $836,990.70. Following the completion of the transaction, the vice president now directly owns 9,455 shares in the company, valued at $800,176.65. The disclosure for this sale can be found here. Insiders have sold 94,817 shares of company stock worth $7,977,415 in the last quarter. Corporate insiders own 2.70% 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.