Victory Capital Management Inc. Lowers Stake in A. O. Smith Co. (NYSE:AOS)

Victory Capital Management Inc. trimmed its holdings in A. O. Smith Co. (NYSE:AOS) by 3.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 97,910 shares of the industrial products company’s stock after selling 2,992 shares during the period. Victory Capital Management Inc. owned 0.07% of A. O. Smith worth $8,007,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc lifted its position in A. O. Smith by 157.2% during the 2nd quarter. Versant Capital Management Inc now owns 463 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 283 shares during the period. ORG Partners LLC lifted its holdings in shares of A. O. Smith by 665.0% during the first quarter. ORG Partners LLC now owns 612 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 532 shares during the period. Twin Tree Management LP increased its stake in A. O. Smith by 188.9% in the 1st quarter. Twin Tree Management LP now owns 737 shares of the industrial products company’s stock valued at $66,000 after buying an additional 1,566 shares during the period. Fidelis Capital Partners LLC purchased a new position in A. O. Smith during the 1st quarter worth $109,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of A. O. Smith in the 1st quarter worth $132,000. Institutional investors and hedge funds own 76.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AOS. UBS Group boosted their price target on shares of A. O. Smith from $73.00 to $75.00 and gave the stock a “sell” rating in a research note on Monday, July 8th. Stifel Nicolaus raised A. O. Smith from a “hold” rating to a “buy” rating and raised their price target for the company from $97.00 to $98.00 in a report on Wednesday, July 24th. StockNews.com upgraded A. O. Smith from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird lowered their price target on shares of A. O. Smith from $92.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $89.67.

A. O. Smith Price Performance

Shares of NYSE AOS opened at $79.97 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $82.36 and its 200 day moving average price is $84.01. A. O. Smith Co. has a 52 week low of $64.14 and a 52 week high of $92.44. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 2.17 and a beta of 1.15.

A. O. Smith (NYSE:AOS) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that A. O. Smith Co. will post 4.07 earnings per share for the current fiscal year.

A. O. Smith Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Wednesday, July 31st. A. O. Smith’s dividend payout ratio is presently 33.16%.

Insider Activity at A. O. Smith

In other A. O. Smith news, SVP Samuel M. Carver sold 14,705 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $81.00, for a total transaction of $1,191,105.00. Following the sale, the senior vice president now directly owns 2,399 shares of the company’s stock, valued at approximately $194,319. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

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.