Tokio Marine Asset Management Co. Ltd. Acquires 434 Shares of A. O. Smith Co. (NYSE:AOS)

Tokio Marine Asset Management Co. Ltd. boosted its stake in A. O. Smith Co. (NYSE:AOS) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,002 shares of the industrial products company’s stock after acquiring an additional 434 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in A. O. Smith were worth $360,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of A. O. Smith during the 2nd quarter valued at about $25,000. Isthmus Partners LLC bought a new stake in A. O. Smith during the 2nd quarter valued at approximately $27,000. Quarry LP grew its holdings in shares of A. O. Smith by 214.9% during the 2nd quarter. Quarry LP now owns 359 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 245 shares during the period. Waldron Private Wealth LLC bought a new position in shares of A. O. Smith in the 3rd quarter worth approximately $32,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of A. O. Smith in the 3rd quarter valued at approximately $37,000. 76.10% of the stock is owned by hedge funds and other institutional investors.

A. O. Smith Stock Down 1.1 %

Shares of A. O. Smith stock opened at $72.23 on Friday. The company has a 50-day simple moving average of $80.59 and a two-hundred day simple moving average of $82.24. The stock has a market capitalization of $10.47 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. A. O. Smith Co. has a 52-week low of $72.15 and a 52-week high of $92.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.02 and a current ratio of 1.67.

A. O. Smith (NYSE:AOS) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $0.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.82. A. O. Smith had a net margin of 14.41% and a return on equity of 30.09%. The company had revenue of $957.80 million during the quarter, compared to analyst estimates of $960.36 million. During the same period in the previous year, the business earned $0.90 EPS. On average, analysts anticipate that A. O. Smith Co. will post 3.78 EPS for the current fiscal year.

A. O. Smith Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.34 per share. This is an increase from A. O. Smith’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Thursday, October 31st. A. O. Smith’s dividend payout ratio is presently 35.79%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com raised A. O. Smith from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird decreased their price target on shares of A. O. Smith from $82.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. UBS Group raised shares of A. O. Smith from a “sell” rating to a “neutral” rating and lifted their price target for the company from $75.00 to $80.00 in a research report on Wednesday, October 23rd. Stifel Nicolaus cut their price objective on shares of A. O. Smith from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, DA Davidson downgraded shares of A. O. Smith from a “buy” rating to a “neutral” rating and set a $80.00 target price for the company. in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, A. O. Smith has a consensus rating of “Hold” and a consensus target price of $86.71.

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.