ProShare Advisors LLC Reduces Stock Position in A. O. Smith Corporation $AOS

ProShare Advisors LLC lowered its position in A. O. Smith Corporation (NYSE:AOS) by 8.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,284,371 shares of the industrial products company’s stock after selling 215,859 shares during the period. ProShare Advisors LLC’s holdings in A. O. Smith were worth $167,696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of A. O. Smith in the 2nd quarter valued at $91,939,000. American Century Companies Inc. lifted its position in A. O. Smith by 54.3% during the second quarter. American Century Companies Inc. now owns 2,080,288 shares of the industrial products company’s stock valued at $136,405,000 after purchasing an additional 732,041 shares during the period. Qube Research & Technologies Ltd lifted its position in A. O. Smith by 655.5% during the second quarter. Qube Research & Technologies Ltd now owns 710,716 shares of the industrial products company’s stock valued at $46,602,000 after purchasing an additional 616,638 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in A. O. Smith by 521.1% in the second quarter. The Manufacturers Life Insurance Company now owns 581,070 shares of the industrial products company’s stock valued at $38,101,000 after purchasing an additional 487,513 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in A. O. Smith by 171.6% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 667,655 shares of the industrial products company’s stock worth $43,778,000 after purchasing an additional 421,845 shares during the period. Institutional investors and hedge funds own 76.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup restated a “neutral” rating and issued a $78.00 target price (up previously from $72.00) on shares of A. O. Smith in a research note on Friday, January 30th. Robert W. Baird set a $77.00 price objective on A. O. Smith in a research report on Friday, January 30th. Wall Street Zen raised shares of A. O. Smith from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. DA Davidson reiterated a “neutral” rating and issued a $75.00 target price on shares of A. O. Smith in a research note on Thursday, November 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of A. O. Smith in a report on Wednesday, December 24th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $78.00.

A. O. Smith Stock Performance

Shares of NYSE:AOS opened at $79.05 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.50 and a quick ratio of 0.94. A. O. Smith Corporation has a 1 year low of $58.83 and a 1 year high of $79.23. The firm has a market capitalization of $11.01 billion, a PE ratio of 20.48, a P/E/G ratio of 1.63 and a beta of 1.36. The business’s 50 day moving average price is $69.99 and its 200-day moving average price is $69.97.

A. O. Smith (NYSE:AOS) last issued its earnings results on Thursday, January 29th. The industrial products company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.06. A. O. Smith had a net margin of 14.26% and a return on equity of 29.51%. The business had revenue of $912.50 million during the quarter, compared to analysts’ expectations of $928.97 million. During the same period in the prior year, the business earned $0.85 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. As a group, equities research analysts expect that A. O. Smith Corporation will post 3.76 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 30th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, January 30th. A. O. Smith’s dividend payout ratio is presently 37.31%.

A. O. Smith Company Profile

A. O. Smith Corporation, based in Milwaukee, Wisconsin, is a leading manufacturer of water heating and water treatment products for residential and commercial applications. Since its founding in 1874, the company has built a reputation for producing reliable, energy-efficient water heaters, boilers and pressure vessels. Its product portfolio encompasses gas, electric, condensing and tankless water heaters, as well as specialty boilers designed to meet a variety of building and industrial needs.

The company operates through two primary segments: North America and Asia.