Nicholas Investment Partners LP decreased its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 11.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,908 shares of the construction company's stock after selling 8,627 shares during the quarter. Nicholas Investment Partners LP owned about 0.08% of AAON worth $7,756,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Barclays PLC lifted its position in AAON by 182.2% during the 3rd quarter. Barclays PLC now owns 84,472 shares of the construction company's stock worth $9,111,000 after acquiring an additional 54,535 shares during the period. JPMorgan Chase & Co. raised its stake in shares of AAON by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock valued at $351,615,000 after buying an additional 150,207 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of AAON during the 4th quarter valued at about $284,000. Caldwell Investment Management Ltd. purchased a new position in shares of AAON during the 4th quarter valued at about $1,099,000. Finally, UMB Bank n.a. raised its stake in shares of AAON by 67.5% during 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 last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.
Analysts Set New Price Targets
A number of research firms have weighed in on AAON. StockNews.com cut shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. DA Davidson dropped their target price on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. CJS Securities upgraded shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Friday, February 28th. Finally, Robert W. Baird dropped their target price on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.50.
View Our Latest Report on AAON
Insider Buying and Selling
In other AAON 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 transaction of $824,501.62. Following the sale, the chief executive officer now directly owns 26,491 shares of the company's stock, valued at $2,613,602.06. This trade represents a 23.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Raymond Stewart bought 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company's stock, valued at approximately $242,580. The trade was a 50.00% increase in their position. The disclosure for this purchase can be found here. 18.70% of the stock is owned by company insiders.
AAON Trading Down 0.5%
Shares of AAON stock traded down $0.55 on Monday, reaching $106.32. The company had a trading volume of 58,556 shares, compared to its average volume of 664,060. AAON, Inc. has a 52-week low of $68.98 and a 52-week high of $144.07. The firm's 50 day moving average price is $86.05 and its two-hundred day moving average price is $107.73. The firm has a market cap of $8.65 billion, a PE ratio of 46.68 and a beta of 1.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.
AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $289.16 million. During the same period in the prior year, the firm posted $0.46 EPS. The company's quarterly revenue was up 22.9% compared to the same quarter last year. Sell-side analysts predict that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.
AAON Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 yield of 0.38%. AAON's dividend payout ratio is currently 21.05%.
AAON announced that its board has initiated a share repurchase plan on Tuesday, March 4th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.
AAON Company Profile
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Free Report)
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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