AAON, Inc. $AAON Stake Decreased by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC significantly reduced its holdings in AAON, Inc. by 84.9%, selling 588,779 shares in the first quarter.
• AAON's recent earnings report revealed an EPS of $0.22, falling short of the estimated $0.31, with revenue declining 0.6% year-over-year.
• The company announced a quarterly dividend of $0.10 per share, set to be paid on September 26th, with a dividend yield of 0.5%.

Driehaus Capital Management LLC decreased its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 84.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,628 shares of the construction company's stock after selling 588,779 shares during the quarter. Driehaus Capital Management LLC owned about 0.13% of AAON worth $8,175,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP boosted its stake in AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after buying an additional 103 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of AAON by 26.3% in the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after acquiring an additional 149 shares during the last quarter. Cresset Asset Management LLC raised its stake in AAON by 1.3% during the first quarter. Cresset Asset Management LLC now owns 12,151 shares of the construction company's stock worth $949,000 after purchasing an additional 157 shares during the period. CWM LLC boosted its holdings in shares of AAON by 25.7% in the 1st quarter. CWM LLC now owns 938 shares of the construction company's stock valued at $73,000 after purchasing an additional 192 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of AAON by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the construction company's stock valued at $1,477,000 after purchasing an additional 200 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

AAON Stock Up 1.0%

Shares of NASDAQ:AAON traded up $0.83 during trading on Thursday, hitting $81.08. The company's stock had a trading volume of 379,187 shares, compared to its average volume of 1,005,696. The company has a market capitalization of $6.61 billion, a PE ratio of 55.12 and a beta of 1.00. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $144.07. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. The stock's 50-day moving average price is $79.57 and its two-hundred day moving average price is $84.85.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results on Monday, August 11th. The construction company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.09). AAON had a return on equity of 15.45% and a net margin of 9.70%.The firm had revenue of $311.57 million for the quarter, compared to the consensus estimate of $326.15 million. During the same period in the prior year, the business earned $0.62 EPS. The company's quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 5th. AAON's dividend payout ratio is 27.21%.

Insider Activity

In other news, insider Christopher Douglas Eason sold 12,003 shares of AAON stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $85.08, for a total value of $1,021,215.24. Following the completion of the transaction, the insider directly owned 5,301 shares of the company's stock, valued at approximately $451,009.08. The trade was a 69.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 18.55% of the company's stock.

AAON 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.