A. O. Smith Corp (NYSE:AOS) declared a quarterly dividend on Monday, April 8th, RTT News reports. Shareholders of record on Tuesday, April 30th will be paid a dividend of 0.22 per share by the industrial products company on Wednesday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Monday, April 29th.
A. O. Smith has increased its dividend by an average of 26.0% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. A. O. Smith has a payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Analysts expect A. O. Smith to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 29.5%.
NYSE:AOS traded up $0.08 during trading hours on Monday, reaching $55.59. The company had a trading volume of 479,530 shares, compared to its average volume of 1,532,506. The company has a market capitalization of $9.43 billion, a PE ratio of 21.30, a PEG ratio of 1.91 and a beta of 1.39. A. O. Smith has a 1-year low of $40.34 and a 1-year high of $66.21. The company has a current ratio of 2.09, a quick ratio of 1.70 and a debt-to-equity ratio of 0.13.
AOS has been the subject of several research reports. ValuEngine upgraded A. O. Smith from a “sell” rating to a “hold” rating in a research report on Wednesday, December 26th. Zacks Investment Research cut A. O. Smith from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Boenning Scattergood restated a “buy” rating on shares of A. O. Smith in a report on Tuesday, January 29th. Oppenheimer restated a “hold” rating on shares of A. O. Smith in a report on Tuesday, January 29th. Finally, BMO Capital Markets cut A. O. Smith from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $62.70.
In other news, Director Paul W. Jones sold 20,000 shares of the company’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $49.00, for a total value of $980,000.00. Following the transaction, the director now owns 180,967 shares of the company’s stock, valued at approximately $8,867,383. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wallace E. Goodwin sold 13,200 shares of the company’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $50.02, for a total value of $660,264.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,036 shares of company stock worth $1,879,646. Corporate insiders own 1.03% of the company’s stock.
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About A. O. Smith
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtration products for residences, restaurants, hotels, and offices.
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