Azzad Asset Management Inc. ADV Makes New $1.93 Million Investment in A. O. Smith Co. (NYSE:AOS)

Azzad Asset Management Inc. ADV acquired a new stake in shares of A. O. Smith Co. (NYSE:AOS) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 29,586 shares of the industrial products company’s stock, valued at approximately $1,934,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AOS. Charles Schwab Investment Management Inc. raised its position in A. O. Smith by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,231,084 shares of the industrial products company’s stock valued at $83,972,000 after purchasing an additional 12,305 shares in the last quarter. Assetmark Inc. raised its holdings in shares of A. O. Smith by 7.1% during the 4th quarter. Assetmark Inc. now owns 27,825 shares of the industrial products company’s stock valued at $1,898,000 after buying an additional 1,834 shares in the last quarter. Private Advisor Group LLC lifted its position in A. O. Smith by 124.5% in the 4th quarter. Private Advisor Group LLC now owns 6,694 shares of the industrial products company’s stock worth $457,000 after buying an additional 3,712 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in A. O. Smith in the fourth quarter worth approximately $7,015,000. Finally, American Century Companies Inc. grew its position in A. O. Smith by 16.6% during the fourth quarter. American Century Companies Inc. now owns 122,726 shares of the industrial products company’s stock valued at $8,371,000 after acquiring an additional 17,442 shares during the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.

A. O. Smith Stock Down 0.7%

Shares of NYSE AOS opened at $63.78 on Friday. The firm has a fifty day simple moving average of $65.75 and a two-hundred day simple moving average of $67.40. A. O. Smith Co. has a 12 month low of $58.83 and a 12 month high of $92.45. The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $9.06 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.46 and a beta of 1.21.

A. O. Smith (NYSE:AOS) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $963.90 million during the quarter, compared to the consensus estimate of $950.56 million. A. O. Smith had a net margin of 13.98% and a return on equity of 28.87%. A. O. Smith’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. Equities analysts expect that A. O. Smith Co. will post 3.76 earnings per share for the current year.

A. O. Smith Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were paid a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.36 annualized dividend and a yield of 2.13%. A. O. Smith’s payout ratio is 37.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AOS shares. Stifel Nicolaus upped their price objective on shares of A. O. Smith from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of A. O. Smith in a report on Wednesday. Robert W. Baird boosted their price objective on A. O. Smith from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Finally, Citigroup lowered their price target on shares of A. O. Smith from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.17.

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.