Ascent Group LLC Purchases Shares of 48,629 AAON, Inc. $AAON

Key Points

• Ascent Group LLC has invested approximately $3.80 million in AAON, acquiring 48,629 shares during the first quarter, bringing its ownership to about 0.06% of the company.
• Several large investors have increased their holdings in AAON, with Vanguard Group Inc. now owning over 6.5 million shares after a 4.4% increase.
• AAON announced a quarterly dividend of $0.10 per share, with a 0.5% yield and payout ratio of 27.21%, to be paid on September 26th.

Ascent Group LLC bought a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 48,629 shares of the construction company's stock, valued at approximately $3,799,000. Ascent Group LLC owned about 0.06% of AAON at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in shares of AAON by 26.3% in the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock valued at $56,000 after purchasing an additional 149 shares during the last quarter. Cresset Asset Management LLC lifted its stake in shares of AAON by 1.3% during the 1st quarter. Cresset Asset Management LLC now owns 12,151 shares of the construction company's stock worth $949,000 after buying an additional 157 shares during the last quarter. CWM LLC boosted its holdings in shares of AAON by 25.7% during the 1st quarter. CWM LLC now owns 938 shares of the construction company's stock worth $73,000 after buying an additional 192 shares during the period. Louisiana State Employees Retirement System grew its stake in 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 buying an additional 200 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in AAON by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 7,905 shares of the construction company's stock valued at $617,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

AAON Price Performance

Shares of AAON stock traded down $0.29 on Friday, reaching $82.18. The company had a trading volume of 1,306,860 shares, compared to its average volume of 1,011,533. The business's 50-day moving average is $80.44 and its 200 day moving average is $83.70. AAON, Inc. has a one year low of $62.00 and a one year high of $144.07. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $6.70 billion, a PE ratio of 55.90 and a beta of 1.00.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The construction company reported $0.22 earnings per share (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 company had revenue of $311.57 million for the quarter, compared to analyst estimates of $326.15 million. During the same quarter in the prior year, the company earned $0.62 earnings per share. AAON's revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

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

Insider Activity

In related news, insider Christopher Douglas Eason sold 12,003 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $85.08, for a total value of $1,021,215.24. Following the completion of the sale, the insider directly owned 5,301 shares in the company, valued at $451,009.08. This represents a 69.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Rebecca Thompson sold 9,350 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $81.09, for a total value of $758,191.50. Following the completion of the sale, the chief financial officer directly owned 24,396 shares of the company's stock, valued at approximately $1,978,271.64. The trade was a 27.71% decrease in their position. The disclosure for this sale can be found here. 18.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AAON. Robert W. Baird cut 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. Wall Street Zen lowered AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 17th. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target for the company in a research note on Monday, June 16th. Finally, DA Davidson decreased their price objective on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. One investment 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.com, the stock currently has a consensus rating of "Buy" and a consensus 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.