A. O. Smith Corp (NYSE:AOS) announced a quarterly dividend on Friday, January 19th, RTT News reports. Investors of record on Wednesday, January 31st will be paid a dividend of 0.18 per share by the industrial products company on Thursday, February 15th. This represents a $0.72 annualized dividend and a yield of 1.09%. This is an increase from A. O. Smith’s previous quarterly dividend of $0.14.
A. O. Smith has increased its dividend payment by an average of 23.1% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. A. O. Smith has a payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Analysts expect A. O. Smith to earn $2.39 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 23.4%.
Shares of A. O. Smith (AOS) traded up $0.32 during midday trading on Friday, hitting $65.91. The stock had a trading volume of 507,700 shares, compared to its average volume of 694,667. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.92 and a current ratio of 2.32. The firm has a market cap of $11,330.00, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 2.20 and a beta of 1.57. A. O. Smith has a fifty-two week low of $46.44 and a fifty-two week high of $66.19.
In related news, insider Peter R. Martineau sold 22,267 shares of A. O. Smith stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $59.33, for a total transaction of $1,321,101.11. Following the completion of the sale, the insider now directly owns 17,528 shares of the company’s stock, valued at $1,039,936.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ajita G. Rajendra sold 15,000 shares of A. O. Smith stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $61.81, for a total value of $927,150.00. Following the sale, the chief executive officer now directly owns 299,369 shares of the company’s stock, valued at $18,503,997.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,156 shares of company stock valued at $6,092,537. Corporate insiders own 1.27% of the company’s stock.
AOS has been the subject of a number of research reports. Zacks Investment Research upgraded A. O. Smith from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Stifel Nicolaus restated a “hold” rating and set a $59.00 target price on shares of A. O. Smith in a research report on Monday, December 11th. Robert W. Baird restated a “buy” rating and set a $68.00 target price on shares of A. O. Smith in a research report on Friday, October 27th. Boenning Scattergood downgraded A. O. Smith from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 25th. Finally, SunTrust Banks restated a “buy” rating and set a $65.00 target price on shares of A. O. Smith in a research report on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. A. O. Smith presently has a consensus rating of “Hold” and a consensus price target of $62.40.
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About A. O. Smith
A. O. Smith Corporation operates through two segments: North America and Rest of World. The Company’s Rest of World segment primarily consists of China, Europe and India. Both segments manufacture and market comprehensive lines of residential and commercial gas, gas tankless and electric water heaters, as well as water treatment products.
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