Bank of New York Mellon Corp Grows Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Bank of New York Mellon Corp grew its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 39.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,101,692 shares of the construction company's stock after purchasing an additional 312,855 shares during the period. Bank of New York Mellon Corp owned approximately 1.35% of AAON worth $86,075,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Twin Tree Management LP acquired a new stake in shares of AAON during the 4th quarter valued at $33,000. Quarry LP lifted its stake in shares of AAON by 49.0% in the 4th 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. lifted 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 purchasing an additional 276 shares during the period. Versant Capital Management Inc increased its position in AAON by 652.3% in the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock valued at $26,000 after buying an additional 287 shares in the last quarter. Finally, Whittier Trust Co. bought a new stake in AAON in the 4th quarter valued at about $46,000. Institutional investors own 70.81% of the company's stock.

AAON Stock Performance

Shares of NASDAQ:AAON traded down $2.34 during trading on Monday, hitting $74.49. 1,244,279 shares of the company were exchanged, compared to its average volume of 680,692. The company has a market cap of $6.06 billion, a PE ratio of 39.21 and a beta of 0.95. The stock has a 50 day moving average of $87.47 and a 200 day moving average of $94.79. AAON, Inc. has a 52-week low of $68.98 and a 52-week high of $144.07. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.77 and a quick ratio of 1.80.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.13. The firm had revenue of $322.05 million for 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 quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 earnings per share. As a group, equities research analysts predict that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

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. The ex-dividend date was Friday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.54%. AAON's payout ratio is currently 21.05%.

Insiders Place Their Bets

In related news, Director Gordon Douglas Wichman sold 21,302 shares of the stock in a transaction on 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 transaction, the director owned 8,754 shares of the company's stock, valued at $914,617.92. This represents a 70.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary D. Fields sold 37,189 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total value of $3,651,959.80. Following the transaction, the chief executive officer directly owned 63,714 shares in the company, 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. In the last three months, insiders sold 70,823 shares of company stock worth $7,122,451. 18.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAON. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price for the company in a research report on Monday, June 16th. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $111.50.

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.