Wealth Enhancement Advisory Services LLC Sells 24,312 Shares of A. O. Smith Co. (NYSE:AOS)

Wealth Enhancement Advisory Services LLC lowered its position in shares of A. O. Smith Co. (NYSE:AOS) by 82.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,118 shares of the industrial products company’s stock after selling 24,312 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in A. O. Smith were worth $460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Forsta AP Fonden increased its stake in shares of A. O. Smith by 23.5% in the third quarter. Forsta AP Fonden now owns 78,400 shares of the industrial products company’s stock valued at $7,043,000 after buying an additional 14,900 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in A. O. Smith by 18.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,543 shares of the industrial products company’s stock valued at $2,766,000 after acquiring an additional 4,783 shares during the period. Lake Street Advisors Group LLC bought a new position in shares of A. O. Smith during the third quarter valued at $215,000. Assenagon Asset Management S.A. acquired a new position in shares of A. O. Smith during the third quarter worth $24,060,000. Finally, Lafayette Investments Inc. grew its stake in shares of A. O. Smith by 4.3% in the third quarter. Lafayette Investments Inc. now owns 41,980 shares of the industrial products company’s stock worth $3,771,000 after purchasing an additional 1,732 shares during the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.

A. O. Smith Stock Down 1.5 %

Shares of NYSE AOS opened at $74.86 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The firm has a market cap of $10.85 billion, a PE ratio of 19.70, a P/E/G ratio of 2.02 and a beta of 1.17. The company’s fifty day simple moving average is $81.26 and its 200 day simple moving average is $82.65. A. O. Smith Co. has a 12-month low of $70.97 and a 12-month high of $92.44.

A. O. Smith (NYSE:AOS) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $0.82 EPS for the quarter, meeting the consensus estimate of $0.82. A. O. Smith had a return on equity of 30.09% and a net margin of 14.41%. The company had revenue of $957.80 million during the quarter, compared to the consensus estimate of $960.36 million. During the same period last year, the business posted $0.90 EPS. As a group, sell-side analysts forecast that A. O. Smith Co. will post 3.78 earnings per share for the current fiscal year.

A. O. Smith Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.34 dividend. This is a boost from A. O. Smith’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Thursday, October 31st. A. O. Smith’s dividend payout ratio (DPR) is currently 35.79%.

Wall Street Analyst Weigh In

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

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.