Decade Renewable Partners LP Purchases New Position in AAON, Inc. (NASDAQ:AAON)

Decade Renewable Partners LP purchased a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,807 shares of the construction company's stock, valued at approximately $2,449,000. AAON accounts for 1.2% of Decade Renewable Partners LP's investment portfolio, making the stock its 27th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mather Group LLC. lifted its position in shares of AAON by 521.6% in the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company's stock worth $27,000 after purchasing an additional 193 shares during the period. Twin Tree Management LP purchased a new stake in AAON during the fourth quarter worth $33,000. Westside Investment Management Inc. bought a new stake in AAON during the 3rd quarter valued at $36,000. Quarry LP increased 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 acquiring an additional 103 shares during the period. Finally, UMB Bank n.a. raised 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 acquiring an additional 131 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Robert W. Baird cut their target price on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. DA Davidson reduced their price objective 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. CJS Securities upgraded shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note 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 equities 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 given a strong buy rating to the company. According to data from MarketBeat.com, AAON currently has an average rating of "Moderate Buy" and a consensus price target of $115.50.

AAON Stock Performance

Shares of NASDAQ:AAON traded up $2.91 on Friday, hitting $99.37. 1,246,229 shares of the company were exchanged, compared to its average volume of 736,850. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock's 50 day moving average price is $81.96 and its 200 day moving average price is $108.47. AAON, Inc. has a 1-year low of $68.98 and a 1-year high of $144.07. The firm has a market capitalization of $8.08 billion, a P/E ratio of 43.78 and a beta of 0.96.

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 for the quarter, beating analysts' consensus estimates of $0.24 by $0.13. The business had revenue of $322.05 million for the quarter, compared to analyst estimates of $289.16 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The company's revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 earnings per share. Sell-side analysts predict that AAON, Inc. will post 2.26 EPS for the current year.

AAON Increases Dividend

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

AAON announced that its Board of Directors has initiated a share buyback program 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 programs are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director David Raymond Stewart acquired 1,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $242,580. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.70% of the stock is currently owned by corporate insiders.

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.