AAON, Inc. $AAON Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. reduced its stake in AAON, Inc. by 1.7%, owning approximately 1.27% of the company's shares worth $80.7 million after selling 17,843 shares.
• AAON recently reported $0.22 earnings per share, missing the consensus estimate of $0.31, and had a revenue decline of 0.6% year-over-year.
• The company declared a quarterly dividend of $0.10 per share, set to be paid on September 26th, representing a 0.5% dividend yield.

Ameriprise Financial Inc. lowered its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,032,898 shares of the construction company's stock after selling 17,843 shares during the quarter. Ameriprise Financial Inc. owned about 1.27% of AAON worth $80,704,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quarry LP grew its holdings in shares of AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after purchasing an additional 103 shares during the period. Rakuten Securities Inc. grew its holdings in shares of 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 purchasing an additional 276 shares during the period. Versant Capital Management Inc grew its holdings in shares of AAON by 652.3% in the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock valued at $26,000 after purchasing an additional 287 shares during the period. Park Square Financial Group LLC purchased a new stake in shares of AAON in the fourth quarter valued at about $57,000. Finally, UMB Bank n.a. grew its holdings in shares of AAON by 81.2% in the first quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock valued at $46,000 after purchasing an additional 264 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AAON shares. DA Davidson dropped their price objective on shares of AAON from $125.00 to $105.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Wall Street Zen cut shares of AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. Robert W. Baird decreased their target price 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 raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a research 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. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $102.00.

Insider Activity

In other news, insider Christopher Douglas Eason sold 12,003 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the sale, the insider owned 5,301 shares of the company's stock, valued at approximately $451,009.08. This represents a 69.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 18.70% of the company's stock.

AAON Stock Up 0.4%

Shares of AAON traded up $0.37 during mid-day trading on Thursday, hitting $85.12. 537,189 shares of the company's stock were exchanged, compared to its average volume of 1,580,473. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 57.90 and a beta of 0.94. 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 is $78.82 and its 200-day moving average is $85.69.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The construction company reported $0.22 earnings per share (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 analyst estimates of $326.15 million. AAON had a return on equity of 15.45% and a net margin of 9.70%.The firm's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. On average, sell-side analysts anticipate that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

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

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.