Skandinaviska Enskilda Banken AB publ Sells 26,914 Shares of A. O. Smith Corporation $AOS

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of A. O. Smith Corporation (NYSE:AOS - Free Report) by 84.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,823 shares of the industrial products company's stock after selling 26,914 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in A. O. Smith were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. purchased a new position in A. O. Smith during the second quarter valued at approximately $1,045,000. Sequoia Financial Advisors LLC bought a new stake in A. O. Smith during the 2nd quarter valued at $386,000. Magnetar Financial LLC purchased a new position in shares of A. O. Smith in the 2nd quarter valued at $2,837,000. Charles Schwab Investment Management Inc. raised its position in shares of A. O. Smith by 1.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,265,091 shares of the industrial products company's stock worth $82,952,000 after acquiring an additional 13,906 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of A. O. Smith by 64.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 28,832 shares of the industrial products company's stock worth $1,891,000 after purchasing an additional 11,294 shares during the last quarter. Hedge funds and other institutional investors own 76.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AOS. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of A. O. Smith in a research report on Wednesday, October 8th. Robert W. Baird set a $76.00 price target on shares of A. O. Smith in a report on Wednesday, October 29th. Citigroup cut their price objective on shares of A. O. Smith from $77.00 to $72.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 29th. DA Davidson reissued a "neutral" rating and set a $75.00 target price on shares of A. O. Smith in a research report on Thursday, November 13th. Finally, Wall Street Zen upgraded shares of A. O. Smith from a "hold" rating to a "buy" rating in a research note on Saturday, October 18th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $76.71.

Read Our Latest Analysis on A. O. Smith

A. O. Smith Stock Down 0.0%

NYSE:AOS opened at $66.00 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 0.95 and a debt-to-equity ratio of 0.09. A. O. Smith Corporation has a twelve month low of $58.83 and a twelve month high of $77.31. The company has a market cap of $9.19 billion, a PE ratio of 17.79, a P/E/G ratio of 1.45 and a beta of 1.34. The company's 50 day moving average is $67.94 and its two-hundred day moving average is $68.74.

A. O. Smith (NYSE:AOS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.05. A. O. Smith had a net margin of 13.85% and a return on equity of 29.34%. The business had revenue of $942.50 million during the quarter, compared to analysts' expectations of $946.33 million. During the same quarter last year, the company posted $0.82 earnings per share. The business's quarterly revenue was up 4.4% on a year-over-year basis. A. O. Smith has set its FY 2025 guidance at 3.700-3.850 EPS. Analysts anticipate that A. O. Smith Corporation will post 3.76 EPS for the current year.

A. O. Smith Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Friday, October 31st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $1.44 dividend on an annualized basis and a yield of 2.2%. This is an increase from A. O. Smith's previous quarterly dividend of $0.34. A. O. Smith's payout ratio is presently 38.81%.

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.

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