Peregrine Capital Management LLC Boosts Stake in AAON, Inc. (NASDAQ:AAON)

Peregrine Capital Management LLC lifted its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 71.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,292 shares of the construction company's stock after acquiring an additional 51,857 shares during the period. Peregrine Capital Management LLC owned approximately 0.15% of AAON worth $9,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAON. Rakuten Securities Inc. lifted its stake in AAON by 613.3% in the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after buying an additional 276 shares during the period. Versant Capital Management Inc raised its holdings in AAON by 652.3% during the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after buying an additional 287 shares during the last quarter. Twin Tree Management LP bought a new position in AAON in the 4th quarter valued at about $33,000. Quarry LP boosted its position in shares of AAON by 49.0% during the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after buying an additional 103 shares during the last quarter. Finally, Whittier Trust Co. bought a new stake in shares of AAON in the 4th quarter worth $46,000. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AAON

In other news, Director Gordon Douglas Wichman sold 21,302 shares of the 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 sale, the director directly owned 8,754 shares of the company's stock, valued at approximately $914,617.92. This represents a 70.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary D. Fields sold 37,189 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 owned 63,714 shares of the company's stock, valued at $6,256,714.80. This trade represents a 36.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,823 shares of company stock valued at $7,122,451. 18.70% of the stock is owned by company insiders.

AAON Stock Performance

NASDAQ:AAON traded down $0.08 during trading hours on Thursday, reaching $75.20. The stock had a trading volume of 439,959 shares, compared to its average volume of 655,789. The stock has a 50 day simple moving average of $89.59 and a 200 day simple moving average of $97.58. AAON, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07. The stock has a market cap of $6.12 billion, a P/E ratio of 39.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 2.77.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly 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 net margin of 12.60% and a return on equity of 20.23%. The company had revenue of $322.05 million for the quarter, compared to analysts' expectations of $289.16 million. During the same period in the prior year, the company posted $0.46 EPS. AAON's revenue was up 22.9% compared to the same quarter last year. On average, research analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, June 6th. AAON's payout ratio is currently 21.05%.

Analyst Ratings Changes

Several research analysts recently weighed in on AAON shares. Wall Street Zen upgraded shares of AAON from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target for the company in a research report on Monday, June 16th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $111.50.

AAON Company 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.