AAON, Inc. $AAON Shares Sold by Bahl & Gaynor Inc.

Key Points

• Bahl & Gaynor Inc. reduced its stake in AAON, Inc. by 12.6%, owning 61,682 shares worth approximately $4.8 million after selling 8,873 shares in the first quarter.
• AAON reported a loss of earnings per share at $0.22 for the last quarter, falling short of the expected $0.31, with revenues also down 0.6% year-over-year
• The company declared a quarterly dividend of $0.10 per share, with a dividend yield of 0.5%, to be paid on September 26th.

Bahl & Gaynor Inc. decreased its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,682 shares of the construction company's stock after selling 8,873 shares during the period. Bahl & Gaynor Inc. owned 0.08% of AAON worth $4,819,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. grew its stake in shares of AAON by 613.3% in the 1st 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 boosted its position in shares of AAON by 652.3% during the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after purchasing an additional 287 shares during the period. Quarry LP boosted its position in shares of AAON by 49.0% during the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after purchasing an additional 103 shares during the period. UMB Bank n.a. boosted its position in shares of AAON by 81.2% during the 1st quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock worth $46,000 after purchasing an additional 264 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of AAON by 26.3% during the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

AAON Stock Up 0.4%

Shares of AAON traded up $0.37 during midday trading on Thursday, reaching $85.12. The stock had a trading volume of 537,054 shares, compared to its average volume of 1,014,998. AAON, Inc. has a 1-year low of $62.00 and a 1-year high of $144.07. The company's fifty day simple moving average is $78.55 and its two-hundred day simple moving average is $85.88. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 57.90 and a beta of 0.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.10 and a quick ratio of 1.99.

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

AAON Announces Dividend

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 given a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. AAON's payout ratio is 27.21%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Sidoti raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective for the company in a research report on Monday, June 16th. Robert W. Baird decreased their price target 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. DA Davidson decreased their price target on shares of AAON from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Finally, Wall Street Zen cut shares of AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $102.00.

Insiders Place Their Bets

In related news, insider Christopher Douglas Eason sold 12,003 shares of the business's stock in a transaction on Monday, August 25th. The shares were 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 of the company's stock, valued at $451,009.08. The trade was a 69.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.70% of the stock is currently owned by company insiders.

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.