Fort Washington Investment Advisors Inc. OH Makes New Investment in AAON, Inc. $AAON

Key Points

• Fort Washington Investment Advisors initiated a position in AAON during the third quarter, purchasing 182,330 shares valued at approximately $15.1 million, or about 0.22% of the company.
• AAON reported strong quarterly results, with revenue rising 101.2% year over year to $626.98 million and EPS of $0.69, exceeding the $0.51 analyst consensus.
• Shares opened at $77.30, down 4%, while analysts maintained a “Moderate Buy” consensus with an average price target of $120. The company also pays a quarterly dividend of $0.10, yielding about 0.5%.

Fort Washington Investment Advisors Inc. OH bought a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 182,330 shares of the construction company's stock, valued at approximately $15,090,000. Fort Washington Investment Advisors Inc. OH owned approximately 0.22% of AAON at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new position in AAON in the third quarter valued at $103,000. Tidal Investments LLC raised its holdings in shares of AAON by 0.6% in the second quarter. Tidal Investments LLC now owns 153,244 shares of the construction company's stock valued at $19,441,000 after buying an additional 864 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of AAON during the second quarter worth about $1,003,000. NewEdge Advisors LLC boosted its stake in shares of AAON by 7.7% during the second quarter. NewEdge Advisors LLC now owns 17,604 shares of the construction company's stock worth $2,233,000 after buying an additional 1,253 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of AAON by 868.6% during the second quarter. Squarepoint Ops LLC now owns 107,045 shares of the construction company's stock worth $13,580,000 after buying an additional 95,994 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

AAON Trading Down 4.0%

Shares of AAON stock opened at $77.30 on Friday. The business's fifty day moving average price is $81.45 and its 200 day moving average price is $101.84. AAON, Inc. has a 1-year low of $73.19 and a 1-year high of $150.46. The firm has a market capitalization of $6.37 billion, a PE ratio of 41.72, a P/E/G ratio of 1.49 and a beta of 1.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.18. The firm had revenue of $626.98 million during the quarter, compared to analysts' expectations of $508.82 million. AAON had a return on equity of 17.32% and a net margin of 8.24%. AAON's revenue was up 101.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. As a group, sell-side analysts forecast that AAON, Inc. will post 2.35 EPS for the current fiscal year.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were given a $0.10 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON's payout ratio is currently 20.83%.

Insider Activity

In other AAON news, Director David Stewart acquired 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average cost of $74.66 per share, for a total transaction of $74,660.00. Following the transaction, the director directly owned 4,000 shares of the company's stock, valued at approximately $298,640. This represents a 33.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew Shaub acquired 457 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average cost of $76.42 per share, for a total transaction of $34,923.94. Following the completion of the purchase, the executive vice president owned 3,136 shares in the company, valued at $239,653.12. The trade was a 17.06% increase in their position. The SEC filing for this purchase provides additional information. 18.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AAON has been the topic of a number of research reports. KeyCorp reissued a "sector weight" rating on shares of AAON in a report on Thursday, August 13th. DA Davidson reaffirmed a "buy" rating and set a $110.00 price objective on shares of AAON in a research report on Tuesday, September 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a research note on Monday. Oppenheimer reiterated an "outperform" rating and issued a $115.00 target price (down from $125.00) on shares of AAON in a research note on Wednesday. Finally, Robert W. Baird dropped their target price on AAON from $150.00 to $135.00 and set an "outperform" rating on the stock in a report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $120.00.

AAON Profile

AAON, Inc NASDAQ: AAON designs and manufactures high-efficiency heating, ventilation, and air conditioning (HVAC) equipment for commercial and industrial applications. The company is headquartered in Tulsa, Oklahoma, and was founded in 1988 by Norm Asbjornson.

Its product portfolio includes rooftop units, air-handling units, condensing units, heat pumps, chillers, and related HVAC components. AAON's equipment is used in applications such as office buildings, schools, healthcare facilities, retail properties, data centers, and other commercial or industrial structures.

AAON sells its products primarily through manufacturer representatives and other distribution channels serving customers in the United States and Canada.

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