Principal Financial Group Inc. Reduces Stock Position in A. O. Smith Co. (NYSE:AOS)

Principal Financial Group Inc. lessened its position in shares of A. O. Smith Co. (NYSE:AOS) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 164,971 shares of the industrial products company’s stock after selling 21,276 shares during the quarter. Principal Financial Group Inc. owned 0.11% of A. O. Smith worth $14,819,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AOS. University of Texas Texas AM Investment Management Co. purchased a new stake in A. O. Smith during the 2nd quarter valued at about $25,000. Isthmus Partners LLC purchased a new stake in shares of A. O. Smith in the second quarter worth about $27,000. Quarry LP boosted its stake in shares of A. O. Smith by 214.9% in the second quarter. Quarry LP now owns 359 shares of the industrial products company’s stock worth $29,000 after buying an additional 245 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of A. O. Smith in the third quarter worth about $32,000. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of A. O. Smith in the third quarter worth about $37,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.

A. O. Smith Price Performance

Shares of A. O. Smith stock opened at $72.22 on Friday. The business has a 50 day simple moving average of $80.59 and a two-hundred day simple moving average of $82.24. A. O. Smith Co. has a 12 month low of $72.15 and a 12 month high of $92.44. The stock has a market capitalization of $10.47 billion, a P/E ratio of 19.01, a PEG ratio of 1.94 and a beta of 1.17. 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 (NYSE:AOS) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $0.82 EPS for the quarter, meeting analysts’ consensus estimates of $0.82. A. O. Smith had a return on equity of 30.09% and a net margin of 14.41%. The business had revenue of $957.80 million during the quarter, compared to analysts’ expectations of $960.36 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. As a group, analysts predict that A. O. Smith Co. will post 3.78 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. Investors of record on Thursday, October 31st were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Thursday, October 31st. This is a boost from A. O. Smith’s previous quarterly dividend of $0.32. A. O. Smith’s dividend payout ratio (DPR) is currently 35.79%.

Analyst Ratings Changes

AOS has been the topic of a number of recent research reports. StockNews.com upgraded A. O. Smith from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. DA Davidson downgraded A. O. Smith from a “buy” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research note on Wednesday, October 23rd. Robert W. Baird lowered their target price on A. O. Smith from $82.00 to $81.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. UBS Group upgraded A. O. Smith from a “sell” rating to a “neutral” rating and increased their price target for the stock from $75.00 to $80.00 in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus lowered their price target on A. O. Smith from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, A. O. Smith presently has an average rating of “Hold” and a consensus price target 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.