Mawer Investment Management Ltd. Makes New $44.22 Million Investment in AAON, Inc. (NASDAQ:AAON)

Key Points

• Mawer Investment Management Ltd. purchased 565,972 shares of AAON, Inc. for approximately $44.2 million, representing about 0.70% of the company at the end of the first quarter.
• Other institutional investors have significantly increased their stakes in AAON, with Rakuten Securities Inc. growing its position by 613.3% in the same period.
• AAON, Inc. reported a 12.60% net margin and a revenue increase of 22.9% year-over-year, with earnings per share of $0.37, surpassing analysts' expectations.

Mawer Investment Management Ltd. bought a new stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 565,972 shares of the construction company's stock, valued at approximately $44,219,000. Mawer Investment Management Ltd. owned about 0.70% of AAON as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of AAON. Zurcher Kantonalbank Zurich Cantonalbank grew its position in AAON by 3.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,652 shares of the construction company's stock valued at $989,000 after acquiring an additional 429 shares during the last quarter. Equitable Trust Co. lifted its holdings in shares of AAON by 90.0% in the 1st quarter. Equitable Trust Co. now owns 4,188 shares of the construction company's stock worth $327,000 after buying an additional 1,984 shares during the period. Cetera Investment Advisers lifted its holdings in shares of AAON by 12.4% in the 1st quarter. Cetera Investment Advisers now owns 10,089 shares of the construction company's stock worth $788,000 after buying an additional 1,117 shares during the period. Avantax Advisory Services Inc. lifted its stake in shares of AAON by 26.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 19,530 shares of the construction company's stock worth $1,526,000 after purchasing an additional 4,031 shares during the last quarter. Finally, Royce & Associates LP purchased a new stake in shares of AAON during the 1st quarter worth $13,999,000. Institutional investors own 70.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AAON shares. Sidoti upgraded 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 "sell" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, AAON has a consensus rating of "Moderate Buy" and an average target price of $111.50.

AAON Trading Down 2.2%

AAON stock traded down $1.87 during trading on Friday, reaching $81.63. 1,202,046 shares of the company were exchanged, compared to its average volume of 947,391. AAON, Inc. has a 52-week low of $68.98 and a 52-week high of $144.07. The company has a market capitalization of $6.64 billion, a P/E ratio of 42.96 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.77 and a quick ratio of 1.80. The stock's 50 day simple moving average is $80.89 and its two-hundred day simple moving average is $91.12.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.13. AAON had a return on equity of 20.23% and a net margin of 12.60%. The company had revenue of $322.05 million for the quarter, compared to the consensus estimate of $289.16 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. The company's revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities research analysts expect that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, June 6th. AAON's payout ratio is presently 21.05%.

Insider Buying and Selling at AAON

In other news, CEO Gary D. Fields sold 37,189 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the transaction, the chief executive officer directly owned 63,714 shares of the company's stock, valued at approximately $6,256,714.80. This represents a 36.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gordon Douglas Wichman sold 21,302 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total value of $2,225,632.96. Following the completion of the sale, the director directly owned 8,754 shares of the company's stock, valued at $914,617.92. The trade was a 70.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,823 shares of company stock valued at $7,122,451 over the last three months. 18.70% of the stock is currently owned by insiders.

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.