Nicholas Investment Partners LP Has $7.76 Million Stock Position in AAON, Inc. (NASDAQ:AAON)

Nicholas Investment Partners LP decreased its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 11.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 65,908 shares of the construction company's stock after selling 8,627 shares during the period. Nicholas Investment Partners LP owned approximately 0.08% of AAON worth $7,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AAON. Mather Group LLC. grew its holdings in shares of AAON by 521.6% in the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company's stock valued at $27,000 after buying an additional 193 shares during the period. Twin Tree Management LP acquired a new position in shares of AAON in the 4th quarter valued at $33,000. Quarry LP grew its holdings in shares of AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after buying an additional 103 shares during the period. UMB Bank n.a. grew its holdings in shares of AAON by 67.5% in the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company's stock valued at $38,000 after buying an additional 131 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of AAON by 28.4% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock valued at $41,000 after buying an additional 84 shares during the period. Institutional investors own 70.81% of the company's stock.

Insider Transactions at AAON

In related news, CEO Gary D. Fields sold 8,357 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $98.66, for a total value of $824,501.62. Following the completion of the sale, the chief executive officer now directly owns 26,491 shares in the company, valued at approximately $2,613,602.06. This trade represents a 23.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Raymond Stewart bought 1,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at $242,580. The trade was a 50.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 18.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AAON. 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. StockNews.com lowered shares of AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Robert W. Baird reduced their target price on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Finally, DA Davidson reduced their target price on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $115.50.

AAON Stock Up 2.7%

NASDAQ AAON traded up $2.76 on Friday, reaching $106.87. The company had a trading volume of 443,976 shares, compared to its average volume of 666,376. The company's fifty day moving average is $86.05 and its 200-day moving average is $107.82. AAON, Inc. has a 1-year low of $68.98 and a 1-year high of $144.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 47.08 and a beta of 1.06.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.13. AAON had a net margin of 15.78% and a return on equity of 24.98%. The company had revenue of $322.05 million during the quarter, compared to the consensus estimate of $289.16 million. During the same period in the prior year, the business posted $0.46 EPS. The company's quarterly revenue was up 22.9% on a year-over-year basis. On average, research analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 4th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the construction company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.37%. AAON's dividend payout ratio is 21.05%.

AAON 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.