Ostrum Asset Management Sells 6,215 Shares of AAON, Inc. (NASDAQ:AAON)

Ostrum Asset Management lowered its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 60.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,095 shares of the construction company's stock after selling 6,215 shares during the period. Ostrum Asset Management's holdings in AAON were worth $482,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. lifted its holdings in AAON by 521.6% in the fourth 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 bought a new stake in shares of AAON during the 4th quarter valued at $33,000. Westside Investment Management Inc. acquired a new position in shares of AAON in the 3rd quarter valued at $36,000. UMB Bank n.a. boosted its position 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 worth $38,000 after purchasing an additional 131 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of AAON by 28.4% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock worth $41,000 after purchasing an additional 84 shares during the period. Institutional investors own 70.81% of the company's stock.

AAON Stock Up 2.4 %

Shares of NASDAQ:AAON traded up $2.10 during midday trading on Friday, reaching $87.94. 842,971 shares of the company were exchanged, compared to its average volume of 732,560. The firm has a market cap of $7.15 billion, a PE ratio of 38.74 and a beta of 0.96. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07. The stock has a fifty day simple moving average of $83.24 and a two-hundred day simple moving average of $109.09. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07.

AAON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.10 per share. This is a boost from AAON's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Tuesday, March 18th. AAON's dividend payout ratio is currently 19.90%.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on AAON. DA Davidson cut their target price on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Friday, February 28th. Robert W. Baird decreased their price objective on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Finally, StockNews.com lowered shares of 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 issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $115.50.

Insider Buying and Selling at AAON

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of AAON stock in a transaction dated 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 purchase, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. This represents a 50.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 18.55% of the company's stock.

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.