Allspring Global Investments Holdings LLC Purchases 339,558 Shares of AAON, Inc. (NASDAQ:AAON)

Allspring Global Investments Holdings LLC increased its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 107.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 654,794 shares of the construction company's stock after acquiring an additional 339,558 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.80% of AAON worth $51,833,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in AAON by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company's stock worth $734,262,000 after purchasing an additional 75,832 shares during the last quarter. Invesco Ltd. grew its position in shares of AAON by 15.6% during the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock worth $239,184,000 after buying an additional 274,119 shares during the period. Geode Capital Management LLC grew its position in shares of AAON by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company's stock worth $145,692,000 after buying an additional 3,644 shares during the period. Blair William & Co. IL raised its stake in shares of AAON by 4.2% during the fourth quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company's stock worth $137,660,000 after buying an additional 47,254 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of AAON by 85.6% during the fourth quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company's stock worth $125,813,000 after buying an additional 493,219 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

AAON Trading Up 1.6%

Shares of AAON stock traded up $1.16 on Tuesday, reaching $74.91. The company had a trading volume of 1,536,082 shares, compared to its average volume of 655,535. The stock has a market cap of $6.10 billion, a PE ratio of 39.43 and a beta of 0.95. The company has a 50-day moving average of $89.82 and a 200-day moving average of $97.89. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07.

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

AAON announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 4th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.

AAON Dividend Announcement

The company 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 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, June 6th. AAON's dividend payout ratio (DPR) is 21.05%.

Insiders Place Their Bets

In other AAON news, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $98.66, for a total transaction of $824,501.62. Following the transaction, the chief executive officer directly owned 26,491 shares in the company, valued at approximately $2,613,602.06. The trade was a 23.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gordon Douglas Wichman sold 21,302 shares of the stock in a transaction dated Tuesday, May 20th. The stock was 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 owned 8,754 shares of the company's stock, valued at $914,617.92. This trade represents a 70.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,823 shares of company stock valued at $7,122,451. 18.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AAON has been the topic of a number of recent research reports. Sidoti raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective on the stock in a research note on Monday, June 16th. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AAON presently has a consensus rating of "Buy" and a consensus price target of $111.50.

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.