Price T Rowe Associates Inc. MD Has $72.02 Million Holdings in AAON, Inc. (NASDAQ:AAON)

Price T Rowe Associates Inc. MD lifted its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 33.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 611,952 shares of the construction company's stock after buying an additional 151,891 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.75% of AAON worth $72,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AAON. Massar Capital Management LP bought a new position in shares of AAON in the fourth quarter valued at approximately $1,785,000. Tower Research Capital LLC TRC increased its position in shares of AAON by 278.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,308 shares of the construction company's stock valued at $742,000 after purchasing an additional 4,642 shares during the period. Tradition Wealth Management LLC acquired a new position in shares of AAON during the 4th quarter valued at $213,000. MetLife Investment Management LLC lifted its holdings in shares of AAON by 8.2% in the fourth quarter. MetLife Investment Management LLC now owns 41,000 shares of the construction company's stock valued at $4,825,000 after buying an additional 3,118 shares during the period. Finally, Curi RMB Capital LLC grew its holdings in AAON by 0.5% during the fourth quarter. Curi RMB Capital LLC now owns 18,503 shares of the construction company's stock worth $2,177,000 after acquiring an additional 100 shares during the period. 70.81% of the stock is owned by institutional investors.

AAON Trading Up 5.7 %

NASDAQ AAON traded up $5.19 on Thursday, hitting $96.46. 1,581,591 shares of the stock were exchanged, compared to its average volume of 735,925. The company's 50-day moving average price is $81.98 and its two-hundred day moving average price is $108.55. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 42.49 and a beta of 0.96. AAON, Inc. has a 52-week low of $68.98 and a 52-week high of $144.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79.

AAON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.41%. This is a positive change from AAON's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 18th. AAON's payout ratio is presently 19.90%.

AAON declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 4th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 0.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AAON shares. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target for the company in a report on Friday, February 28th. DA Davidson dropped their price target on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Robert W. Baird cut their price objective on AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Finally, StockNews.com cut AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $115.50.

Insiders Place Their Bets

In other news, Director David Raymond Stewart acquired 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the acquisition, the director now owns 3,000 shares in the company, valued at approximately $242,580. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 18.70% of the company's stock.

About AAON

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.