AAON, Inc. (NASDAQ:AAON) Plans $0.10 Quarterly Dividend

Key Points

• AAON, Inc. has declared a quarterly dividend of $0.10 per share for stockholders of record as of September 5th, with a dividend yield of 0.5%.
• Despite a 4.3% drop in stock price to $84.49, AAON reported a payout ratio of 13.5%, indicating that its dividend is well-supported by earnings.
• Institutional investors have shown increased interest, with significant stakes being added by firms such as Rakuten Securities and EverSource Wealth Advisors.

AAON, Inc. (NASDAQ:AAON - Get Free Report) declared a quarterly dividend on Thursday, August 14th, RTT News reports. Stockholders of record on Friday, September 5th will be given a dividend of 0.10 per share by the construction company on Friday, September 26th. This represents a c) annualized dividend and a dividend yield of 0.5%.

AAON has a payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AAON to earn $2.93 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 13.7%.

AAON Stock Down 4.3%

Shares of AAON stock traded down $3.80 on Thursday, hitting $84.49. The company's stock had a trading volume of 116,174 shares, compared to its average volume of 1,013,211. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.10 and a quick ratio of 1.80. AAON has a fifty-two week low of $62.00 and a fifty-two week high of $144.07. The firm's fifty day moving average price is $78.12 and its 200-day moving average price is $88.01. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 57.59 and a beta of 0.94.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The construction company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.09). The company had revenue of $311.57 million for the quarter, compared to analyst estimates of $326.15 million. AAON had a net margin of 9.70% and a return on equity of 15.45%. The firm's quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 EPS. Research analysts anticipate that AAON will post 2.26 EPS for the current year.

Insider Transactions at AAON

In other news, Director Gordon Douglas Wichman sold 21,302 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the completion of the sale, the director owned 8,754 shares of the company's stock, valued at approximately $914,617.92. This represents a 70.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AAON

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rakuten Securities Inc. increased its position in shares of AAON by 613.3% during the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock worth $25,000 after buying an additional 276 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock worth $25,000 after buying an additional 164 shares during the period. Versant Capital Management Inc increased its position in shares of AAON by 652.3% during the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after buying an additional 287 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AAON during the second quarter worth $26,000. Finally, Quarry LP increased its position in shares of AAON by 49.0% during the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after buying an additional 103 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Company Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.

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