KLP Kapitalforvaltning AS Invests $2.58 Million in A. O. Smith Co. (NYSE:AOS)

KLP Kapitalforvaltning AS acquired a new position in shares of A. O. Smith Co. (NYSE:AOS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 37,800 shares of the industrial products company’s stock, valued at approximately $2,578,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of A. O. Smith during the third quarter worth $1,726,000. Charles Schwab Investment Management Inc. boosted its holdings in A. O. Smith by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,231,084 shares of the industrial products company’s stock valued at $83,972,000 after acquiring an additional 12,305 shares during the period. FORA Capital LLC acquired a new position in A. O. Smith in the 3rd quarter valued at about $730,000. Geode Capital Management LLC grew its position in A. O. Smith by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,586,905 shares of the industrial products company’s stock valued at $321,348,000 after acquiring an additional 52,593 shares in the last quarter. Finally, Assetmark Inc. increased its stake in A. O. Smith by 7.1% during the fourth quarter. Assetmark Inc. now owns 27,825 shares of the industrial products company’s stock worth $1,898,000 after purchasing an additional 1,834 shares during the period. Institutional investors and hedge funds own 76.10% of the company’s stock.

Insider Buying and Selling

In other news, VP Robert J. Heideman sold 1,026 shares of A. O. Smith stock in a transaction on Friday, February 7th. The shares were sold at an average price of $65.65, for a total value of $67,356.90. Following the transaction, the vice president now directly owns 8,889 shares of the company’s stock, valued at $583,562.85. The trade was a 10.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Douglas Samuel Karge sold 419 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $65.65, for a total transaction of $27,507.35. Following the sale, the senior vice president now owns 2,749 shares of the company’s stock, valued at approximately $180,471.85. This represents a 13.23 % decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.

A. O. Smith Stock Up 0.9 %

Shares of NYSE AOS opened at $67.33 on Thursday. The business has a 50-day moving average of $67.51 and a two-hundred day moving average of $73.12. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. A. O. Smith Co. has a 1 year low of $64.55 and a 1 year high of $92.45. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.55 and a quick ratio of 0.96.

A. O. Smith (NYSE:AOS) last posted its earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.05). A. O. Smith had a return on equity of 28.87% and a net margin of 13.98%. On average, analysts forecast that A. O. Smith Co. will post 3.76 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, January 31st. A. O. Smith’s dividend payout ratio (DPR) is 37.47%.

Wall Street Analyst Weigh In

AOS has been the subject of a number of research reports. Oppenheimer dropped their price objective on shares of A. O. Smith from $88.00 to $84.00 and set an “outperform” rating for the company in a report on Friday, January 31st. UBS Group dropped their price target on shares of A. O. Smith from $80.00 to $74.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of A. O. Smith in a research report on Saturday, March 22nd. Citigroup decreased their target price on A. O. Smith from $78.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, StockNews.com upgraded A. O. Smith from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $80.86.

About A. O. Smith

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.