Confluence Investment Management LLC Trims Holdings in A. O. Smith Co. (NYSE:AOS)

Confluence Investment Management LLC reduced its stake in A. O. Smith Co. (NYSE:AOS) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 272,218 shares of the industrial products company’s stock after selling 320 shares during the quarter. Confluence Investment Management LLC owned approximately 0.19% of A. O. Smith worth $24,453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kornitzer Capital Management Inc. KS grew its holdings in shares of A. O. Smith by 8.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 34,722 shares of the industrial products company’s stock valued at $3,119,000 after purchasing an additional 2,776 shares during the period. Northstar Asset Management Inc. boosted its holdings in A. O. Smith by 1.1% in the 3rd quarter. Northstar Asset Management Inc. now owns 118,568 shares of the industrial products company’s stock valued at $10,651,000 after purchasing an additional 1,264 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of A. O. Smith by 6.7% in the 3rd quarter. QRG Capital Management Inc. now owns 10,638 shares of the industrial products company’s stock valued at $956,000 after buying an additional 671 shares during the period. Van ECK Associates Corp increased its holdings in shares of A. O. Smith by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,552 shares of the industrial products company’s stock worth $2,206,000 after buying an additional 2,435 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its position in shares of A. O. Smith by 114.0% during the 3rd quarter. AustralianSuper Pty Ltd now owns 6,538 shares of the industrial products company’s stock valued at $587,000 after buying an additional 3,483 shares during the period. 76.10% of the stock is owned by institutional investors and hedge funds.

A. O. Smith Trading Down 0.2 %

NYSE AOS opened at $76.03 on Friday. A. O. Smith Co. has a one year low of $70.44 and a one year high of $92.44. The firm has a 50 day simple moving average of $81.43 and a 200-day simple moving average of $82.73. The firm has a market cap of $11.02 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.99 and a beta of 1.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.02 and a current ratio of 1.67.

A. O. Smith (NYSE:AOS) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $0.82 EPS for the quarter, hitting the consensus estimate of $0.82. The business had revenue of $957.80 million during the quarter, compared to the consensus estimate of $960.36 million. A. O. Smith had a net margin of 14.41% and a return on equity of 30.09%. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Equities research analysts anticipate that A. O. Smith Co. will post 3.78 EPS for the current fiscal year.

A. O. Smith Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.34 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.36 dividend on an annualized basis and a yield of 1.79%. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.32. A. O. Smith’s dividend payout ratio (DPR) is currently 35.79%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AOS. Robert W. Baird cut their target price on A. O. Smith from $82.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus cut their price objective on A. O. Smith from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. UBS Group raised shares of A. O. Smith from a “sell” rating to a “neutral” rating and upped their target price for the company from $75.00 to $80.00 in a research report on Wednesday, October 23rd. DA Davidson lowered shares of A. O. Smith from a “buy” rating to a “neutral” rating and set a $80.00 target price for the company. in a research note on Wednesday, October 23rd. Finally, StockNews.com raised shares of A. O. Smith from a “hold” rating to a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $86.71.

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.