363,650 Shares in AAON, Inc. $AAON Acquired by Ceredex Value Advisors LLC

Key Points

• Ceredex Value Advisors LLC acquired a new stake of 363,650 shares (~$33.98M) in AAON during Q3, representing about 0.45% ownership.
• AAON reported quarterly EPS of $0.39, missing estimates by $0.06, while revenue of $424.22M beat expectations and rose 42.5% year-over-year, leaving the company with a market cap of $7.36B and a PE around 69.5.
• EVP Stephen Wakefield purchased 4,141 shares (a 37.4% increase in his stake), institutional ownership is ~70.8%, analysts rate the stock a consensus "Moderate Buy" with a $107.75 target, and AAON declared a $0.10 quarterly dividend (0.4% yield).

Ceredex Value Advisors LLC acquired a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 363,650 shares of the construction company's stock, valued at approximately $33,979,000. Ceredex Value Advisors LLC owned about 0.45% of AAON at the end of the most recent quarter.

Several other large investors have also modified their holdings of AAON. EverSource Wealth Advisors LLC grew its position in shares of AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock worth $25,000 after acquiring an additional 164 shares during the last quarter. CBIZ Investment Advisory Services LLC purchased a new stake in AAON in the 3rd quarter valued at $26,000. Jones Financial Companies Lllp raised its position in AAON by 59.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company's stock valued at $34,000 after purchasing an additional 141 shares during the last quarter. Huntington National Bank boosted its stake in AAON by 27.0% during the 3rd quarter. Huntington National Bank now owns 569 shares of the construction company's stock worth $53,000 after purchasing an additional 121 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in AAON by 273.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 871 shares of the construction company's stock worth $81,000 after purchasing an additional 638 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAON has been the topic of a number of recent research reports. William Blair restated an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. Oppenheimer reaffirmed an "outperform" rating and set a $118.00 price objective (up from $115.00) on shares of AAON in a research note on Tuesday, March 3rd. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AAON in a report on Wednesday, January 21st. Finally, DA Davidson reiterated a "buy" rating and issued a $120.00 price target on shares of AAON in a report on Tuesday, February 3rd. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.75.

Insider Buying and Selling

In other news, EVP Stephen E. Wakefield purchased 4,141 shares of the company's stock in a transaction on Friday, December 12th. The stock was bought at an average cost of $77.59 per share, for a total transaction of $321,300.19. Following the completion of the purchase, the executive vice president directly owned 15,212 shares of the company's stock, valued at $1,180,299.08. The trade was a 37.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.55% of the stock is owned by corporate insiders.

AAON Stock Performance

NASDAQ AAON opened at $90.33 on Tuesday. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $7.36 billion, a PE ratio of 69.49, a price-to-earnings-growth ratio of 2.49 and a beta of 1.09. The business's 50-day moving average price is $92.77 and its 200 day moving average price is $91.24. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $116.04.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results on Monday, March 2nd. The construction company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). AAON had a net margin of 7.46% and a return on equity of 13.13%. The company had revenue of $424.22 million during the quarter, compared to analysts' expectations of $374.10 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. AAON's revenue for the quarter was up 42.5% compared to the same quarter last year. On average, research analysts predict that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Wednesday, March 18th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, March 18th. AAON's payout ratio is 30.77%.

AAON Company Profile

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

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