Skandinaviska Enskilda Banken AB publ Cuts Holdings in A. O. Smith Co. (NYSE:AOS)

Skandinaviska Enskilda Banken AB publ cut its position in shares of A. O. Smith Co. (NYSE:AOS) by 55.4% during the 4th quarter, Holdings Channel reports. The firm owned 81,924 shares of the industrial products company’s stock after selling 101,655 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in A. O. Smith were worth $5,572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its position in A. O. Smith by 4.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,735 shares of the industrial products company’s stock worth $25,757,000 after acquiring an additional 13,010 shares during the period. Victory Capital Management Inc. raised its position in shares of A. O. Smith by 0.7% in the third quarter. Victory Capital Management Inc. now owns 98,594 shares of the industrial products company’s stock valued at $8,857,000 after purchasing an additional 684 shares during the period. Huntington National Bank raised its position in shares of A. O. Smith by 19.8% in the third quarter. Huntington National Bank now owns 812 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 134 shares during the period. Metis Global Partners LLC raised its position in shares of A. O. Smith by 6.3% in the third quarter. Metis Global Partners LLC now owns 6,403 shares of the industrial products company’s stock valued at $575,000 after purchasing an additional 377 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in A. O. Smith by 12.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,002 shares of the industrial products company’s stock valued at $360,000 after acquiring an additional 434 shares in the last quarter. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

A. O. Smith Price Performance

Shares of A. O. Smith stock opened at $66.91 on Friday. A. O. Smith Co. has a 52-week low of $64.55 and a 52-week high of $92.44. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. The company has a fifty day moving average of $67.84 and a 200-day moving average of $73.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 1.55.

A. O. Smith (NYSE:AOS) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). A. O. Smith had a net margin of 13.98% and a return on equity of 28.87%. Equities research analysts expect that A. O. Smith Co. will post 3.76 EPS for the current year.

A. O. Smith Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.36 dividend on an annualized basis and a yield of 2.03%. A. O. Smith’s dividend payout ratio is currently 37.47%.

Analyst Upgrades and Downgrades

AOS has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of A. O. Smith in a research note on Friday, March 7th. StockNews.com raised shares of A. O. Smith from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Oppenheimer cut their price target on shares of A. O. Smith from $88.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Citigroup cut their price target on shares of A. O. Smith from $78.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, UBS Group cut their price target on shares of A. O. Smith from $80.00 to $74.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, A. O. Smith has a consensus rating of “Hold” and a consensus target price of $80.86.

Insider Activity at A. O. Smith

In other A. O. Smith news, VP Robert J. Heideman sold 1,026 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $65.65, for a total value of $67,356.90. Following the completion of the transaction, the vice president now directly owns 8,889 shares in the company, valued at approximately $583,562.85. This represents a 10.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas Samuel Karge sold 419 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $65.65, for a total transaction of $27,507.35. Following the completion of the transaction, the senior vice president now owns 2,749 shares of the company’s stock, valued at $180,471.85. This trade represents a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.

A. O. Smith Company Profile

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.