Kayne Anderson Rudnick Investment Management LLC Sells 663,133 Shares of AAON, Inc. $AAON

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in AAON, Inc. by 27.7%, selling 663,133 shares, and now holds 1,732,426 shares valued at approximately $135.4 million.
• AAON's recent quarterly earnings missed expectations, reporting $0.22 EPS against the consensus estimate of $0.31, with a revenue of $311.57 million.
• The company announced its quarterly dividend of $0.10 per share, which will be paid on September 26th, representing a 0.5% dividend yield.

Kayne Anderson Rudnick Investment Management LLC reduced its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,732,426 shares of the construction company's stock after selling 663,133 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 2.13% of AAON worth $135,354,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AAON. Rakuten Securities Inc. boosted its stake in shares of AAON by 613.3% in the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after purchasing an additional 276 shares in the last quarter. Versant Capital Management Inc boosted its holdings in AAON by 652.3% during the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after acquiring an additional 287 shares during the last quarter. Quarry LP lifted its position in shares of AAON by 49.0% during the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock worth $37,000 after buying an additional 103 shares in the last quarter. UMB Bank n.a. lifted its position in shares of AAON by 81.2% during the 1st quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock worth $46,000 after buying an additional 264 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of AAON by 26.3% during the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after buying an additional 149 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Insider Buying and Selling at AAON

In other news, insider Christopher Douglas Eason sold 12,003 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the transaction, the insider directly owned 5,301 shares in the company, valued at $451,009.08. This trade represents a 69.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.70% of the stock is owned by insiders.

AAON Stock Down 1.7%

AAON traded down $1.44 during trading on Friday, reaching $83.68. The stock had a trading volume of 365,031 shares, compared to its average volume of 1,012,248. The stock's 50 day moving average is $78.82 and its two-hundred day moving average is $85.69. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 56.88 and a beta of 0.94. AAON, Inc. has a one year low of $62.00 and a one year high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The construction company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.09). AAON had a return on equity of 15.45% and a net margin of 9.70%.The firm had revenue of $311.57 million during the quarter, compared to the consensus estimate of $326.15 million. During the same quarter last year, the company posted $0.62 EPS. AAON's revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts expect that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, September 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON's dividend payout ratio (DPR) is presently 27.21%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of AAON from a "hold" rating to a "strong sell" rating in a report on Sunday, August 17th. DA Davidson decreased their price objective on shares of AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Robert W. Baird decreased their price objective on shares of AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Finally, Sidoti upgraded shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective on the stock in a research report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $102.00.

AAON 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.