Corebridge Financial Inc. Sells 1,064 Shares of A. O. Smith Corporation $AOS

Corebridge Financial Inc. trimmed its holdings in A. O. Smith Corporation (NYSE:AOS) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,136 shares of the industrial products company’s stock after selling 1,064 shares during the quarter. Corebridge Financial Inc.’s holdings in A. O. Smith were worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AOS. Impax Asset Management Group plc boosted its position in shares of A. O. Smith by 67.3% in the first quarter. Impax Asset Management Group plc now owns 5,188,561 shares of the industrial products company’s stock valued at $339,124,000 after acquiring an additional 2,086,433 shares during the period. American Century Companies Inc. boosted its position in shares of A. O. Smith by 998.6% in the first quarter. American Century Companies Inc. now owns 1,348,247 shares of the industrial products company’s stock valued at $88,121,000 after acquiring an additional 1,225,521 shares during the period. Sarasin & Partners LLP bought a new stake in shares of A. O. Smith in the first quarter valued at approximately $74,180,000. Voloridge Investment Management LLC boosted its position in shares of A. O. Smith by 242.8% in the fourth quarter. Voloridge Investment Management LLC now owns 627,282 shares of the industrial products company’s stock valued at $42,787,000 after acquiring an additional 444,307 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of A. O. Smith by 35.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,670,567 shares of the industrial products company’s stock valued at $109,187,000 after acquiring an additional 438,291 shares during the period. 76.10% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Kevin J. Wheeler sold 22,200 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $71.26, for a total value of $1,581,972.00. Following the completion of the sale, the chairman directly owned 100,647 shares in the company, valued at approximately $7,172,105.22. This trade represents a 18.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on AOS shares. Oppenheimer raised their target price on A. O. Smith from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Wall Street Zen raised A. O. Smith from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. UBS Group reaffirmed a “neutral” rating and issued a $76.00 target price (up from $74.00) on shares of A. O. Smith in a research report on Monday, July 28th. Stifel Nicolaus raised their target price on A. O. Smith from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. started coverage on A. O. Smith in a research report on Tuesday, June 24th. They issued a “neutral” rating and a $70.00 target price for the company. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $77.43.

A. O. Smith Stock Down 1.3%

Shares of NYSE AOS opened at $70.38 on Wednesday. The stock has a market cap of $9.86 billion, a PE ratio of 19.60, a PEG ratio of 1.55 and a beta of 1.25. The business has a fifty day moving average of $70.26 and a two-hundred day moving average of $67.31. A. O. Smith Corporation has a 52-week low of $58.83 and a 52-week high of $92.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.65.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings data on Thursday, July 24th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.10. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $997.89 million. A. O. Smith had a return on equity of 28.42% and a net margin of 13.68%.The business’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the business earned $1.06 earnings per share. A. O. Smith has set its FY 2025 guidance at 3.700-3.900 EPS. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. A. O. Smith’s dividend payout ratio (DPR) is presently 37.88%.

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.