BNP Paribas Financial Markets Acquires 164,894 Shares of AAON, Inc. $AAON

Key Points

• BNP Paribas Financial Markets dramatically increased its stake in AAON during the fourth quarter, boosting holdings by 1,582.8% to 175,312 shares valued at about $13.4 million.
• AAON reported better-than-expected quarterly results, with EPS of $0.48 versus $0.31 expected and revenue of $496.94 million, up 54.3% year over year.
• Despite strong operating performance, insider selling and valuation remain notable: the CEO and another insider recently sold shares, while the stock trades near its 52-week high with a high P/E ratio of 92.74.

BNP Paribas Financial Markets raised its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 1,582.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,312 shares of the construction company's stock after acquiring an additional 164,894 shares during the period. BNP Paribas Financial Markets owned about 0.21% of AAON worth $13,368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC boosted its stake in shares of AAON by 429.3% during the first quarter. Millennium Management LLC now owns 81,145 shares of the construction company's stock valued at $6,340,000 after purchasing an additional 65,813 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of AAON by 1.8% during the first quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company's stock valued at $1,271,000 after purchasing an additional 294 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of AAON by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company's stock valued at $33,669,000 after purchasing an additional 73,644 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of AAON by 5.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company's stock valued at $18,204,000 after purchasing an additional 12,489 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Insider Activity

In related news, CEO Matthew Joseph Tobolski sold 8,000 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $135.37, for a total transaction of $1,082,960.00. Following the completion of the sale, the chief executive officer owned 114,371 shares in the company, valued at approximately $15,482,402.27. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Casey Kidwell sold 3,153 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $138.30, for a total value of $436,059.90. Following the sale, the insider owned 13,463 shares of the company's stock, valued at $1,861,932.90. This trade represents a 18.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 155,698 shares of company stock valued at $19,986,463. Corporate insiders own 18.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. William Blair reaffirmed an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Oppenheimer reaffirmed an "outperform" rating on shares of AAON in a research note on Friday, May 8th. Finally, Zacks Research raised AAON from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $107.75.

AAON Stock Performance

Shares of AAON stock opened at $132.62 on Monday. The company has a market cap of $10.86 billion, a P/E ratio of 92.74, a PEG ratio of 3.71 and a beta of 1.38. The stock has a 50 day simple moving average of $110.72 and a two-hundred day simple moving average of $96.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $150.46.

AAON (NASDAQ:AAON - Get Free Report) last issued its earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.17. The business had revenue of $496.94 million during the quarter, compared to the consensus estimate of $381.08 million. AAON had a return on equity of 13.67% and a net margin of 7.30%.The firm's revenue for the quarter was up 54.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. Research analysts forecast that AAON, Inc. will post 2.23 earnings per share for the current year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. AAON's payout ratio is currently 27.97%.

AAON Profile

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

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