M&T Bank Corp Has $609,000 Stake in A. O. Smith Co. (NYSE:AOS)

M&T Bank Corp lifted its position in shares of A. O. Smith Co. (NYSE:AOS) by 3.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,785 shares of the industrial products company’s stock after purchasing an additional 253 shares during the quarter. M&T Bank Corp’s holdings in A. O. Smith were worth $609,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Legacy Capital Wealth Partners LLC acquired a new stake in shares of A. O. Smith during the 2nd quarter worth approximately $228,000. Bank of Montreal Can boosted its stake in A. O. Smith by 37.6% during the second quarter. Bank of Montreal Can now owns 185,768 shares of the industrial products company’s stock worth $15,409,000 after acquiring an additional 50,798 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in A. O. Smith in the second quarter worth $1,372,000. FORA Capital LLC bought a new stake in A. O. Smith in the third quarter valued at $730,000. Finally, WealthPlan Investment Management LLC raised its holdings in shares of A. O. Smith by 89.3% during the third quarter. WealthPlan Investment Management LLC now owns 36,206 shares of the industrial products company’s stock valued at $3,252,000 after purchasing an additional 17,079 shares during the period. Institutional investors own 76.10% of the company’s stock.

A. O. Smith Stock Down 1.5 %

Shares of NYSE:AOS opened at $70.81 on Wednesday. The firm has a fifty day moving average price of $75.55 and a two-hundred day moving average price of $80.42. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.92 and a beta of 1.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.02. A. O. Smith Co. has a one year low of $70.73 and a one year high of $92.44.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $0.82 EPS for the quarter, hitting the consensus estimate of $0.82. The company had revenue of $957.80 million during the quarter, compared to analyst estimates of $960.36 million. A. O. Smith had a return on equity of 30.09% and a net margin of 14.41%. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Analysts anticipate that A. O. Smith Co. will post 3.77 EPS for the current fiscal year.

A. O. Smith Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.34 dividend. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, October 31st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.92%. A. O. Smith’s dividend payout ratio is presently 35.79%.

Analysts Set New Price Targets

Several brokerages have issued reports on AOS. StockNews.com lowered A. O. Smith from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Citigroup cut their target price on A. O. Smith from $85.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. DA Davidson downgraded shares of A. O. Smith from a “buy” rating to a “neutral” rating and set a $80.00 price target for the company. in a research report on Wednesday, October 23rd. Stifel Nicolaus lowered their price objective on shares of A. O. Smith from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, UBS Group raised shares of A. O. Smith from a “sell” rating to a “neutral” rating and raised their price objective for the company from $75.00 to $80.00 in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $83.17.

A. O. Smith 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.