Erste Asset Management GmbH Purchases 3,902 Shares of AAON, Inc. $AAON

Key Points

• Erste Asset Management GmbH increased its stake in AAON, Inc. by 6.3%, acquiring an additional 3,902 shares, bringing its total holdings to 66,034 shares valued at approximately $5.18 million.
• AAON reported quarterly earnings of $0.22 per share, missing analyst expectations of $0.31, with revenues declining by 0.6% year-over-year.
• The company announced a quarterly dividend of $0.10 per share, with a payout ratio of 27.21%, set to be paid to investors of record on September 5th.

Erste Asset Management GmbH increased its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 6.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,034 shares of the construction company's stock after acquiring an additional 3,902 shares during the quarter. Erste Asset Management GmbH owned about 0.08% of AAON worth $5,176,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Northern Trust Corp raised its stake in AAON by 3.1% in the first quarter. Northern Trust Corp now owns 644,722 shares of the construction company's stock valued at $50,372,000 after purchasing an additional 19,316 shares in the last quarter. Penn Mutual Asset Management purchased a new stake in AAON in the first quarter valued at approximately $391,000. Cresset Asset Management LLC raised its stake in AAON by 1.3% in the first quarter. Cresset Asset Management LLC now owns 12,151 shares of the construction company's stock valued at $949,000 after purchasing an additional 157 shares in the last quarter. Aberdeen Group plc purchased a new stake in AAON in the first quarter valued at approximately $2,272,000. Finally, Dimensional Fund Advisors LP raised its stake in AAON by 5.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,402,803 shares of the construction company's stock valued at $109,598,000 after purchasing an additional 66,536 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Trading Down 2.7%

Shares of AAON opened at $80.09 on Thursday. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 54.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $144.07. The firm has a 50 day moving average price of $77.46 and a 200-day moving average price of $86.90.

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). The business had revenue of $311.57 million during the quarter, compared to the consensus estimate of $326.15 million. AAON had a return on equity of 15.45% and a net margin of 9.70%.The company's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share. As a group, equities research analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 5th. AAON's payout ratio is presently 27.21%.

Analyst Upgrades and Downgrades

AAON has been the topic of a number of recent analyst reports. Sidoti raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a research note on Monday, June 16th. Robert W. Baird lowered their target price on shares of AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. DA Davidson lowered their target price on shares of AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $102.00.

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.

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