11 Capital Partners LP Boosts Stake in AAON, Inc. $AAON

Key Points

• 11 Capital Partners LP increased its stake in AAON, Inc. by 253.5%, acquiring an additional 72,000 shares, making it the firm's 16th largest holding with approximately $7.84 million in value.
• Several hedge funds, including Rakuten Securities Inc. and Versant Capital Management Inc., significantly raised their positions in AAON, indicating strong institutional interest in the stock with 70.81% of it owned by institutional investors.
• AAON recently reported quarterly earnings with EPS of $0.22, falling short of expectations, and announced a quarterly dividend of $0.10 per share, set to be paid on September 26.

11 Capital Partners LP grew its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 253.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,400 shares of the construction company's stock after buying an additional 72,000 shares during the quarter. AAON accounts for approximately 2.6% of 11 Capital Partners LP's holdings, making the stock its 16th biggest holding. 11 Capital Partners LP owned approximately 0.12% of AAON worth $7,844,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AAON. 4D Advisors LLC increased its holdings in AAON by 175.0% in the first quarter. 4D Advisors LLC now owns 55,000 shares of the construction company's stock valued at $4,297,000 after buying an additional 35,000 shares in the last quarter. Value Aligned Research Advisors LLC acquired a new stake in shares of AAON during the 1st quarter worth about $3,005,000. Aperture Investors LLC purchased a new position in AAON in the first quarter valued at approximately $25,218,000. Vident Advisory LLC bought a new stake in shares of AAON in the first quarter worth $1,831,000. Finally, Pembroke Management LTD boosted its holdings in shares of AAON by 34.7% during the first quarter. Pembroke Management LTD now owns 307,685 shares of the construction company's stock valued at $24,039,000 after acquiring an additional 79,287 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AAON

In other AAON news, insider Christopher Douglas Eason sold 12,003 shares of AAON stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $85.08, for a total value of $1,021,215.24. Following the transaction, the insider directly owned 5,301 shares of the company's stock, valued at $451,009.08. The trade was a 69.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rebecca Thompson sold 9,350 shares of the business's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total value of $758,191.50. Following the completion of the sale, the chief financial officer directly owned 24,396 shares in the company, valued at $1,978,271.64. This trade represents a 27.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Robert W. Baird lowered their price target on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective for the company in a research note on Monday, June 16th. Wall Street Zen cut AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. Finally, DA Davidson cut their price target on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $102.00.

AAON Price Performance

NASDAQ:AAON traded down $0.45 during mid-day trading on Monday, reaching $80.70. 215,401 shares of the company were exchanged, compared to its average volume of 1,000,805. The stock has a market cap of $6.58 billion, a PE ratio of 54.83 and a beta of 1.00. The company has a fifty day moving average of $79.90 and a 200 day moving average of $84.01. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38. AAON, Inc. has a 12 month low of $62.00 and a 12 month high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Monday, August 11th. The construction company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.09). The company had revenue of $311.57 million for the quarter, compared to analyst estimates of $326.15 million. AAON had a return on equity of 15.45% and a net margin of 9.70%.The business's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 EPS. On average, research analysts anticipate that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be paid a $0.10 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.40 annualized dividend and a yield of 0.5%. AAON's dividend payout ratio (DPR) is currently 27.21%.

About AAON

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.