Mitsubishi UFJ Asset Management Co. Ltd. Sells 84,552 Shares of A. O. Smith Corporation $AOS

Mitsubishi UFJ Asset Management Co. Ltd. lowered its position in shares of A. O. Smith Corporation (NYSE:AOS) by 29.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 198,155 shares of the industrial products company’s stock after selling 84,552 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.14% of A. O. Smith worth $12,993,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AOS. Oppenheimer Asset Management Inc. bought a new stake in shares of A. O. Smith in the second quarter worth $1,045,000. Sequoia Financial Advisors LLC acquired a new stake in A. O. Smith during the 2nd quarter valued at $386,000. Teacher Retirement System of Texas raised its holdings in A. O. Smith by 64.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 28,832 shares of the industrial products company’s stock valued at $1,891,000 after acquiring an additional 11,294 shares during the period. Public Sector Pension Investment Board lifted its holdings in A. O. Smith by 7.0% during the 1st quarter. Public Sector Pension Investment Board now owns 15,833 shares of the industrial products company’s stock worth $1,035,000 after purchasing an additional 1,036 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new stake in shares of A. O. Smith during the first quarter worth $253,000. 76.10% of the stock is owned by institutional investors.

A. O. Smith Trading Up 0.8%

Shares of AOS stock opened at $66.33 on Thursday. The business’s fifty day moving average is $70.18 and its 200 day moving average is $69.06. A. O. Smith Corporation has a 52-week low of $58.83 and a 52-week high of $77.31. The company has a market capitalization of $9.24 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.43 and a beta of 1.30. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.54.

A. O. Smith (NYSE:AOS) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. The company had revenue of $942.50 million for the quarter, compared to analysts’ expectations of $946.33 million. A. O. Smith had a net margin of 13.85% and a return on equity of 29.34%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. A. O. Smith has set its FY 2025 guidance at 3.700-3.850 EPS. On average, equities research analysts anticipate that A. O. Smith Corporation will post 3.76 EPS for the current fiscal year.

A. O. Smith Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, October 31st. This represents a $1.44 annualized dividend and a yield of 2.2%. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.34. A. O. Smith’s dividend payout ratio (DPR) is 38.81%.

Analysts Set New Price Targets

Several analysts have recently issued reports on AOS shares. Robert W. Baird set a $76.00 target price on A. O. Smith in a report on Wednesday, October 29th. Stifel Nicolaus set a $80.00 price target on A. O. Smith and gave the company a “buy” rating in a research note on Wednesday, October 29th. UBS Group reiterated a “neutral” rating and set a $76.00 target price (up from $74.00) on shares of A. O. Smith in a research report on Monday, July 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of A. O. Smith in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised A. O. Smith from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, A. O. Smith currently has an average rating of “Hold” and an average target price of $77.00.

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.