Kayne Anderson Rudnick Investment Management LLC Lowers Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 31.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,395,559 shares of the construction company's stock after selling 1,097,698 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 2.95% of AAON worth $281,909,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Mather Group LLC. lifted its holdings in AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company's stock valued at $27,000 after purchasing an additional 193 shares during the last quarter. Twin Tree Management LP purchased a new position in AAON in the fourth quarter worth $33,000. Quarry LP lifted its holdings in shares of AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after acquiring an additional 103 shares during the last quarter. UMB Bank n.a. grew its position in AAON by 67.5% during the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company's stock worth $38,000 after acquiring an additional 131 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in AAON by 28.4% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock valued at $41,000 after buying an additional 84 shares during the last quarter. Institutional investors own 70.81% of the company's stock.

Wall Street Analyst Weigh In

AAON has been the subject of several research analyst reports. DA Davidson dropped their target price on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Wall Street Zen downgraded shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. CJS Securities raised AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Friday, February 28th. Finally, Robert W. Baird lowered their target price on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $115.50.

AAON Price Performance

AAON stock traded down $0.11 during midday trading on Friday, hitting $96.04. The company's stock had a trading volume of 156,840 shares, compared to its average volume of 661,971. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 42.33 and a beta of 1.06. The company has a 50 day moving average of $89.53 and a two-hundred day moving average of $106.56. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.13. The firm had revenue of $322.05 million during the quarter, compared to analyst estimates of $289.16 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. AAON's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. On average, analysts expect that AAON, Inc. will post 2.26 EPS for the current year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.42%. AAON's dividend payout ratio is presently 21.05%.

AAON declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, Director Gordon Douglas Wichman sold 3,975 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $105.75, for a total transaction of $420,356.25. Following the transaction, the director now owns 8,754 shares of the company's stock, valued at approximately $925,735.50. This represents a 31.23% decrease in their position. The transaction 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 the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $98.66, for a total transaction of $824,501.62. Following the transaction, the chief executive officer now owns 26,491 shares in the company, 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. Over the last 90 days, insiders have sold 70,823 shares of company stock valued at $7,122,451. 18.70% of the stock is currently owned by insiders.

AAON Company Profile

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.