Blair William & Co. IL Purchases 1,007,906 Shares of AAON, Inc. (NASDAQ:AAON)

Key Points

• Blair William & Co. IL increased its holdings in AAON, Inc. by 86.2%, owning 2,177,688 shares valued at $170.14 million by the end of the most recent quarter.
• AAON reported a 22.9% increase in revenue year-over-year, achieving $322.05 million, and surpassed earnings expectations with a reported EPS of $0.37 compared to the estimated $0.24.
• The company announced a $0.10 quarterly dividend, translating to an annual yield of 0.5%, and has a current dividend payout ratio of 21.05%.

Blair William & Co. IL raised its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 86.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,177,688 shares of the construction company's stock after buying an additional 1,007,906 shares during the quarter. Blair William & Co. IL owned approximately 2.68% of AAON worth $170,143,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AAON. LPL Financial LLC lifted its stake in AAON by 11.2% in the fourth quarter. LPL Financial LLC now owns 42,049 shares of the construction company's stock valued at $4,948,000 after buying an additional 4,245 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in AAON by 10.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 10,037 shares of the construction company's stock valued at $1,181,000 after buying an additional 936 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in AAON by 30.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,576 shares of the construction company's stock worth $303,000 after acquiring an additional 602 shares during the period. Schroder Investment Management Group acquired a new position in AAON during the fourth quarter worth about $1,400,000. Finally, California Public Employees Retirement System grew its holdings in AAON by 2.7% during the fourth quarter. California Public Employees Retirement System now owns 121,029 shares of the construction company's stock worth $14,243,000 after acquiring an additional 3,166 shares during the period. 70.81% of the stock is currently owned by institutional investors.

AAON Stock Down 0.1%

NASDAQ AAON traded down $0.07 during trading on Tuesday, reaching $81.98. 137,280 shares of the company's stock were exchanged, compared to its average volume of 944,195. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07. The firm has a market capitalization of $6.67 billion, a PE ratio of 43.16 and a beta of 0.94. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. The company's fifty day simple moving average is $80.20 and its 200-day simple moving average is $89.91.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were given a dividend of $0.10 per share. The ex-dividend date was Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. AAON's dividend payout ratio (DPR) is presently 21.05%.

Insider Transactions at AAON

In other news, Director Gordon Douglas Wichman sold 21,302 shares of AAON stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the completion of the sale, the director directly owned 8,754 shares in the company, valued at $914,617.92. The trade was a 70.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $98.66, for a total value of $824,501.62. Following the sale, the chief executive officer owned 26,491 shares of the company's stock, valued at approximately $2,613,602.06. This represents a 23.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,634 shares of company stock valued at $3,470,491 over the last 90 days. Corporate insiders own 18.70% of the company's stock.

Analyst Upgrades and Downgrades

AAON has been the topic of a number of analyst reports. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target on the stock in a research note on Monday, June 16th. Wall Street Zen cut AAON from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.