Commerce Bank Acquires 1,994 Shares of A. O. Smith Co. (NYSE:AOS)

Posted by Defense World Staff on Aug 9th, 2023

Commerce Bank increased its position in A. O. Smith Co. (NYSE:AOS – Free Report) by 39.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,064 shares of the industrial products company’s stock after purchasing an additional 1,994 shares during the period. Commerce Bank’s holdings in A. O. Smith were worth $488,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. HighTower Advisors LLC raised its position in A. O. Smith by 1.2% in the 1st quarter. HighTower Advisors LLC now owns 17,210 shares of the industrial products company’s stock valued at $1,093,000 after buying an additional 208 shares during the last quarter. MetLife Investment Management LLC raised its position in A. O. Smith by 21.4% in the 1st quarter. MetLife Investment Management LLC now owns 35,713 shares of the industrial products company’s stock valued at $2,282,000 after buying an additional 6,288 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in A. O. Smith by 5.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,584 shares of the industrial products company’s stock valued at $1,123,000 after buying an additional 867 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of A. O. Smith by 4.9% during the 1st quarter. Raymond James Trust N.A. now owns 4,351 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 205 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of A. O. Smith by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,145,799 shares of the industrial products company’s stock valued at $73,218,000 after purchasing an additional 20,616 shares during the last quarter. 74.62% of the stock is currently owned by institutional investors.

A. O. Smith Stock Down 0.8 %

Shares of NYSE AOS opened at $73.22 on Wednesday. A. O. Smith Co. has a 52 week low of $46.58 and a 52 week high of $76.94. The business has a 50-day simple moving average of $71.61 and a two-hundred day simple moving average of $68.52. The company has a quick ratio of 1.22, a current ratio of 1.81 and a debt-to-equity ratio of 0.10. The company has a market cap of $11.02 billion, a P/E ratio of 40.45, a P/E/G ratio of 2.29 and a beta of 1.29.

A. O. Smith (NYSE:AOS – Get Free Report) last issued its earnings results on Thursday, July 27th. The industrial products company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. A. O. Smith had a return on equity of 29.73% and a net margin of 7.32%. The business had revenue of $960.80 million during the quarter, compared to the consensus estimate of $961.17 million. During the same quarter last year, the company earned $0.82 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Research analysts anticipate that A. O. Smith Co. will post 3.59 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.64%. A. O. Smith’s dividend payout ratio (DPR) is presently 66.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AOS shares. Robert W. Baird raised their target price on A. O. Smith from $70.00 to $78.00 in a research report on Friday, April 28th. TheStreet raised A. O. Smith from a “c+” rating to a “b+” rating in a research report on Thursday, April 27th. DA Davidson raised their target price on A. O. Smith from $82.00 to $87.00 in a research report on Friday, July 28th. StockNews.com started coverage on A. O. Smith in a report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Stifel Nicolaus lifted their price objective on A. O. Smith from $71.00 to $80.00 and gave the stock a “hold” rating in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.29.

Get Our Latest Analysis on A. O. Smith

Insider Activity

In other news, Director Idelle K. Wolf sold 1,142 shares of A. O. Smith stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $72.77, for a total transaction of $83,103.34. Following the completion of the sale, the director now owns 50,222 shares in the company, valued at approximately $3,654,654.94. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

A. O. Smith Company Profile

(Free Report)

A. O. Smith Corporation manufactures and markets residential and commercial gas, heat pump and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels, office buildings, laundries, car washes, and small businesses; commercial boilers for hospitals, schools, hotels, and other large commercial buildings, as well as residential boilers for homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, on-the-go filtration bottles, point-of-use carbon, and reverse osmosis products for residences, restaurants, hotels, and offices.