257,797 AAON, Inc. $AAON Shares Bought by Royce & Associates LP

Key Points

• Royce & Associates increased its AAON stake by 66.9%, buying 257,797 shares in the third quarter to hold 642,995 shares, valued at about $53.2 million.
• AAON reported quarterly EPS of $0.83, beating the $0.57 consensus, and revenue of $707.4 million, up 84.1% year over year. The article also cites strong demand, including for data-center cooling systems.
• AAON shares traded at $80.25 in Friday’s mid-day session, and the company announced a quarterly dividend of $0.10 per share. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $106.33.

Royce & Associates LP increased its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 66.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 642,995 shares of the construction company's stock after acquiring an additional 257,797 shares during the period. Royce & Associates LP owned about 0.78% of AAON worth $53,214,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wasatch Advisors LP raised its position in AAON by 3.1% during the second quarter. Wasatch Advisors LP now owns 2,338,517 shares of the construction company's stock valued at $296,664,000 after purchasing an additional 70,399 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of AAON by 22.1% in the 1st quarter. First Trust Advisors LP now owns 2,013,215 shares of the construction company's stock worth $166,594,000 after purchasing an additional 364,101 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of AAON by 38.1% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,220,470 shares of the construction company's stock worth $101,006,000 after purchasing an additional 336,730 shares in the last quarter. Mawer Investment Management Ltd. boosted its holdings in shares of AAON by 0.4% in the 3rd quarter. Mawer Investment Management Ltd. now owns 858,980 shares of the construction company's stock worth $71,089,000 after purchasing an additional 3,807 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of AAON in the 2nd quarter worth about $55,284,000. Institutional investors own 70.81% of the company's stock.

AAON Trading Up 1.8%

AAON stock traded up $1.45 during mid-day trading on Friday, hitting $80.25. The company's stock had a trading volume of 1,460,830 shares, compared to its average volume of 1,567,883. The business has a 50 day moving average price of $76.86 and a 200-day moving average price of $96.48. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.82 and a quick ratio of 2.01. AAON, Inc. has a 12 month low of $53.13 and a 12 month high of $150.46. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 1.29 and a beta of 1.45.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The construction company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.26. The firm had revenue of $707.43 million for the quarter, compared to analysts' expectations of $601.19 million. AAON had a return on equity of 20.23% and a net margin of 8.75%. The company's revenue for the quarter was up 84.1% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share. As a group, analysts forecast that AAON, Inc. will post 2.66 EPS for the current year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Wednesday, November 25th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, November 25th. This represents a $0.40 annualized dividend and a yield of 0.5%. AAON's dividend payout ratio is currently 16.81%.

Insider Activity

In related news, EVP Matthew Shaub purchased 457 shares of the firm's stock in a transaction on Friday, August 28th. The shares were acquired at an average cost of $76.42 per share, with a total value of $34,923.94. Following the purchase, the executive vice president directly owned 3,136 shares of the company's stock, valued at approximately $239,653.12. This trade represents a 17.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Stewart acquired 1,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $74.66 per share, with a total value of $74,660.00. Following the transaction, the director directly owned 4,000 shares of the company's stock, valued at approximately $298,640. The trade was a 33.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 18.09% of the company's stock.

Key Stories Impacting AAON

Here are a few of the latest stories about AAON:

• Positive Sentiment: AAON reported record third-quarter revenue of $707.4 million, up 84.1% year over year, and EPS of $0.83, above the $0.57 consensus estimate. Management raised its full-year sales-growth outlook to 72%–75%, citing strong demand that includes data-center cooling systems. Why AAON Stock Surged 37.8% This Week
• Positive Sentiment: The company expanded and refinanced its senior credit facility, increasing potential borrowing capacity from $600 million to as much as $1.2 billion. The added capacity may help fund continued growth, though borrowing availability is not the same as cash on hand. The Aaon Group Announces Expansion of Credit Facility
• Positive Sentiment: Zacks upgraded AAON to Rank #1 (Strong Buy), citing improving earnings prospects and estimate revisions—an encouraging near-term signal, though ratings do not guarantee performance. What Makes AAON a New Strong Buy Stock

Wall Street Analyst Weigh In

AAON has been the topic of several recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a research report on Monday, October 12th. Zacks Research upgraded AAON from a "hold" rating to a "strong-buy" rating in a research report on Thursday. KeyCorp restated a "sector weight" rating on shares of AAON in a research report on Thursday, August 13th. DA Davidson started coverage on AAON in a research note on Tuesday, September 15th. They issued a "buy" rating and a $110.00 target price for the company. Finally, Oppenheimer reiterated an "outperform" rating and set a $105.00 price target (down from $115.00) on shares of AAON in a research report on Tuesday, November 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, AAON presently has a consensus rating of "Moderate Buy" and an average price target of $106.33.

AAON Company Profile

AAON, Inc. designs and manufactures heating, ventilation and air-conditioning (HVAC) equipment for commercial and industrial buildings. Founded in 1988, the company is headquartered in Tulsa, Oklahoma, and sells products under the AAON and BASX brands. Its products include rooftop units, chillers, air-handling units, heat pumps and other custom HVAC systems. BASX specializes in equipment for data centers and other demanding applications, while AAON also offers controls and related services. AAON serves customers primarily in North America, with products also reaching international markets through its sales and distribution network.

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