A. O. Smith Corp (NYSE:AOS) declared a quarterly dividend on Tuesday, October 9th, RTT News reports. Investors of record on Wednesday, October 31st will be paid a dividend of 0.22 per share by the industrial products company on Thursday, November 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, October 30th. This is a boost from A. O. Smith’s previous quarterly dividend of $0.18.
A. O. Smith has increased its dividend payment by an average of 23.1% per year over the last three years and has raised its dividend every year for the last 12 years. A. O. Smith has a dividend payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect A. O. Smith to earn $2.91 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 30.2%.
Shares of NYSE AOS opened at $43.74 on Monday. A. O. Smith has a twelve month low of $43.57 and a twelve month high of $68.39. The company has a market capitalization of $7.46 billion, a P/E ratio of 20.16, a PEG ratio of 1.39 and a beta of 1.44. The company has a quick ratio of 1.77, a current ratio of 2.15 and a debt-to-equity ratio of 0.14.
A number of brokerages recently weighed in on AOS. Robert W. Baird decreased their price objective on shares of A. O. Smith from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, October 10th. Goldman Sachs Group began coverage on shares of A. O. Smith in a report on Tuesday, October 2nd. They issued a “sell” rating and a $50.00 price objective for the company. ValuEngine lowered shares of A. O. Smith from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Oppenheimer restated a “hold” rating on shares of A. O. Smith in a report on Tuesday, September 18th. Finally, Zacks Investment Research lowered shares of A. O. Smith from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $66.63.
About A. O. Smith
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for use in space heating applications for hospitals, schools, hotels, and other large 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 filtrations products for residences, restaurants, hotels, and offices.
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