Copeland Capital Management LLC Has $61 Million Stake in AAON, Inc. $AAON

Key Points

• Copeland Capital Management increased its stake in AAON by 9.9% in Q4 to 799,977 shares (~$61.0 million), representing about 0.98% of AAON and 1.4% of Copeland's portfolio (its 20th largest holding).
• AAON's latest quarter showed $424.22 million in revenue (up 42.5% YoY and above estimates) but an EPS of $0.39, missing the consensus of $0.45.
• Insiders have been selling recently (Casey Kidwell sold 5,225 shares; CAO Rebecca Thompson sold 2,287 shares), leaving corporate insiders with 18.09% ownership, while analysts hold a consensus of "Moderate Buy" with an average price target of $107.75.

Copeland Capital Management LLC lifted its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 799,977 shares of the construction company's stock after purchasing an additional 71,853 shares during the quarter. AAON accounts for 1.4% of Copeland Capital Management LLC's portfolio, making the stock its 20th largest position. Copeland Capital Management LLC owned about 0.98% of AAON worth $60,998,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of AAON by 96.5% in 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. CBIZ Investment Advisory Services LLC acquired a new position in shares of AAON in the third quarter valued at $26,000. Jones Financial Companies Lllp raised its stake in shares of AAON by 59.5% in the third quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company's stock valued at $34,000 after purchasing an additional 141 shares in the last quarter. Danske Bank A S acquired a new position in shares of AAON in the third quarter valued at $47,000. Finally, Huntington National Bank raised its stake in shares of AAON by 27.0% in the third quarter. Huntington National Bank now owns 569 shares of the construction company's stock valued at $53,000 after purchasing an additional 121 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AAON

In other news, insider Casey Kidwell sold 5,225 shares of the firm's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $90.00, for a total value of $470,250.00. Following the completion of the sale, the insider directly owned 12,662 shares in the company, valued at approximately $1,139,580. This trade represents a 29.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Rebecca Thompson sold 2,287 shares of the firm's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $100.11, for a total value of $228,951.57. Following the completion of the sale, the chief accounting officer owned 27,681 shares of the company's stock, valued at approximately $2,771,144.91. This trade represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 18.09% of the company's stock.

Wall Street Analyst Weigh In

AAON has been the subject of a number of recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of AAON in a research note on Wednesday, January 21st. William Blair reiterated an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. DA Davidson reiterated a "buy" rating and set a $120.00 price objective on shares of AAON in a research note on Tuesday, February 3rd. Wall Street Zen upgraded AAON from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Finally, Oppenheimer reiterated an "outperform" rating and set a $118.00 price objective (up from $115.00) on shares of AAON in a research note on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, AAON presently has a consensus rating of "Moderate Buy" and an average price target of $107.75.

AAON Stock Performance

AAON stock opened at $98.71 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.63 and a quick ratio of 1.84. The stock has a fifty day moving average price of $90.88 and a two-hundred day moving average price of $91.22. AAON, Inc. has a 52-week low of $62.00 and a 52-week high of $116.04. The firm has a market capitalization of $8.05 billion, a P/E ratio of 75.93, a P/E/G ratio of 3.02 and a beta of 1.20.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The construction company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). AAON had a return on equity of 13.13% and a net margin of 7.46%.The company had revenue of $424.22 million for the quarter, compared to analyst estimates of $374.10 million. During the same quarter in the prior year, the company earned $0.30 earnings per share. The business's revenue was up 42.5% compared to the same quarter last year. As a group, analysts anticipate that AAON, Inc. will post 2 EPS for the current fiscal year.

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Wednesday, March 18th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, March 18th. AAON's dividend payout ratio is currently 30.77%.

About AAON

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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