Balyasny Asset Management L.P. Takes Position in AAON, Inc. (NASDAQ:AAON)

Balyasny Asset Management L.P. acquired a new position in AAON, Inc. (NASDAQ:AAON - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 95,974 shares of the construction company's stock, valued at approximately $11,294,000. Balyasny Asset Management L.P. owned approximately 0.12% of AAON as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AAON. Mather Group LLC. lifted its position in shares of AAON by 521.6% during the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company's stock valued at $27,000 after acquiring an additional 193 shares during the period. Twin Tree Management LP bought a new position in shares of AAON in the fourth quarter worth about $33,000. Quarry LP grew its stake 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 last quarter. UMB Bank n.a. raised its holdings in 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 last quarter. Finally, Blue Trust Inc. grew its stake in shares of AAON by 28.4% in 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 last quarter. Institutional investors own 70.81% of the company's stock.

Wall Street Analyst Weigh In

AAON has been the subject of several recent analyst reports. DA Davidson decreased their price objective on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 28th. CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price for the company in a report on Friday, February 28th. Robert W. Baird reduced their price objective on shares of 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 shares of AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AAON has a consensus rating of "Moderate Buy" and a consensus target price of $115.50.

Insider Buying and Selling at AAON

In other news, Director David Raymond Stewart bought 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the acquisition, the director now 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, 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. The trade was a 23.98% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.70% of the company's stock.

AAON Stock Up 4.4%

AAON stock traded up $4.40 during midday trading on Monday, hitting $104.63. 682,217 shares of the stock were exchanged, compared to its average volume of 671,703. AAON, Inc. has a 52-week low of $68.98 and a 52-week high of $144.07. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The business's 50-day moving average price is $84.12 and its 200-day moving average price is $108.06. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 46.09 and a beta of 1.06.

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

AAON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.38%. This is a positive change from AAON's previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, March 18th. AAON's dividend payout ratio is 21.05%.

AAON declared that its Board of Directors has authorized a share buyback 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 repurchase up to 0.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

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.