King Luther Capital Management Corp Increases Stock Holdings in A. O. Smith Co. (NYSE:AOS)

King Luther Capital Management Corp raised its holdings in A. O. Smith Co. (NYSE:AOS) by 10.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,747 shares of the industrial products company’s stock after buying an additional 6,430 shares during the quarter. King Luther Capital Management Corp’s holdings in A. O. Smith were worth $6,355,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Legacy Capital Wealth Partners LLC purchased a new stake in A. O. Smith during the 2nd quarter worth approximately $228,000. Cetera Investment Advisers grew its holdings in shares of A. O. Smith by 222.0% during the first quarter. Cetera Investment Advisers now owns 25,255 shares of the industrial products company’s stock valued at $2,259,000 after buying an additional 17,411 shares during the last quarter. Tidal Investments LLC increased its position in shares of A. O. Smith by 119.8% in the 1st quarter. Tidal Investments LLC now owns 21,400 shares of the industrial products company’s stock valued at $1,914,000 after acquiring an additional 11,663 shares during the period. Manning & Napier Advisors LLC purchased a new position in A. O. Smith in the 2nd quarter worth $4,127,000. Finally, Swedbank AB acquired a new stake in A. O. Smith during the 1st quarter worth about $1,495,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.

A. O. Smith Stock Performance

Shares of NYSE AOS opened at $73.17 on Friday. A. O. Smith Co. has a 1 year low of $70.73 and a 1 year high of $92.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.02 and a current ratio of 1.67. The company’s fifty day moving average price is $80.07 and its 200 day moving average price is $81.93. The company has a market capitalization of $10.61 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.89 and a beta of 1.17.

A. O. Smith (NYSE:AOS) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $0.82 EPS for the quarter, meeting analysts’ consensus estimates of $0.82. The firm had revenue of $957.80 million for the quarter, compared to analysts’ expectations of $960.36 million. A. O. Smith had a return on equity of 30.09% and a net margin of 14.41%. During the same period last year, the firm earned $0.90 EPS. On average, research analysts predict that A. O. Smith Co. will post 3.78 earnings per share for the current year.

A. O. Smith Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.36 dividend on an annualized basis and a yield of 1.86%. This is a boost from A. O. Smith’s previous quarterly dividend of $0.32. A. O. Smith’s dividend payout ratio (DPR) is currently 35.79%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AOS shares. StockNews.com raised A. O. Smith from a “hold” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus reduced their price target on shares of 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. DA Davidson downgraded shares of A. O. Smith from a “buy” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a report on Wednesday, October 23rd. Robert W. Baird reduced their target price on shares of A. O. Smith from $82.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group upgraded shares of A. O. Smith from a “sell” rating to a “neutral” rating and boosted their target price for the company from $75.00 to $80.00 in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, A. O. Smith presently has an average rating of “Hold” and an average target price of $86.71.

A. O. Smith Company 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.