T. Rowe Price Investment Management Inc. Decreases Position in AAON, Inc. $AAON

Key Points

• T. Rowe Price Investment Management Inc. significantly reduced its stake in AAON, Inc. by 96% during the first quarter, now holding only 22,314 shares.
• AAON reported a missed earnings estimate with $0.22 EPS compared to the expected $0.31, and generated $311.57 million in revenue, which was below analyst projections.
• The company announced a quarterly dividend of $0.10 per share, with the ex-dividend date set for September 5th, contributing to a 0.5% annual yield.

T. Rowe Price Investment Management Inc. decreased its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 96.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,314 shares of the construction company's stock after selling 540,440 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in AAON were worth $1,744,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blair William & Co. IL lifted its stake in shares of AAON by 86.2% in the 1st quarter. Blair William & Co. IL now owns 2,177,688 shares of the construction company's stock valued at $170,143,000 after acquiring an additional 1,007,906 shares during the last quarter. Mawer Investment Management Ltd. purchased a new position in AAON in the 1st quarter worth approximately $44,219,000. Brown Advisory Inc. purchased a new position in AAON in the 1st quarter worth approximately $41,180,000. Impax Asset Management Group plc bought a new stake in AAON in the first quarter valued at approximately $36,223,000. Finally, Federated Hermes Inc. boosted its stake in shares of AAON by 5,973.3% during the first quarter. Federated Hermes Inc. now owns 390,632 shares of the construction company's stock valued at $30,520,000 after purchasing an additional 384,200 shares during the period. Institutional investors own 70.81% of the company's stock.

Insiders Place Their Bets

In other AAON news, insider Christopher Douglas Eason sold 12,003 shares of AAON stock in a transaction on Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the transaction, the insider owned 5,301 shares in the company, valued at approximately $451,009.08. The trade was a 69.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 18.70% of the stock is currently owned by company insiders.

AAON Stock Down 2.5%

Shares of AAON traded down $2.17 on Friday, reaching $82.95. The stock had a trading volume of 861,153 shares, compared to its average volume of 1,521,417. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. AAON, Inc. has a 12-month low of $62.00 and a 12-month high of $144.07. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 56.43 and a beta of 0.94. The company has a 50-day simple moving average of $79.04 and a 200-day simple moving average of $85.31.

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

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors 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 dividend yield of 0.5%. AAON's dividend payout ratio is presently 27.21%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AAON. DA Davidson decreased their target price on shares of AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Wall Street Zen lowered shares of AAON from a "hold" rating to a "strong sell" rating in a report on Sunday, August 17th. Robert W. Baird decreased their price objective on shares of AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Finally, Sidoti upgraded shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price for the company in a report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $102.00.

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.