Kettle Hill Capital Management LLC Buys Shares of 30,053 AAON, Inc. $AAON

Key Points

• Kettle Hill Capital Management opened a new position in AAON during the fourth quarter, buying 30,053 shares valued at about $2.29 million.
• AAON’s latest quarterly results beat expectations, with EPS of $0.48 versus $0.31 expected and revenue of $496.94 million, up 54.3% from a year earlier.
• Despite the strong operating results, insiders have been selling: the CEO and a director recently sold shares, and insiders sold a total of 150,473 shares over the last three months.

Kettle Hill Capital Management LLC bought a new stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 30,053 shares of the construction company's stock, valued at approximately $2,292,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AAON. EverSource Wealth Advisors LLC increased its stake in AAON by 30.2% in the third quarter. EverSource Wealth Advisors LLC now owns 435 shares of the construction company's stock valued at $41,000 after purchasing an additional 101 shares in the last quarter. Huntington National Bank increased its stake in AAON by 21.1% in the fourth quarter. Huntington National Bank now owns 689 shares of the construction company's stock valued at $53,000 after purchasing an additional 120 shares in the last quarter. Jones Financial Companies Lllp increased its stake in 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. Hantz Financial Services Inc. increased its stake in AAON by 20.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,052 shares of the construction company's stock valued at $80,000 after purchasing an additional 181 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in AAON by 14.7% in the second quarter. Smartleaf Asset Management LLC now owns 1,649 shares of the construction company's stock valued at $121,000 after purchasing an additional 211 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Insider Buying and Selling at AAON

In other AAON news, CEO Matthew Joseph Tobolski sold 8,000 shares of the firm's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total value of $1,082,960.00. Following the transaction, the chief executive officer directly owned 114,371 shares of the company's stock, valued at $15,482,402.27. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary D. Fields sold 31,271 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total transaction of $4,192,502.97. Following the completion of the transaction, the director directly owned 34,252 shares in the company, valued at approximately $4,592,165.64. This represents a 47.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 150,473 shares of company stock valued at $19,516,213 in the last three months. 18.09% of the stock is owned by insiders.

AAON Stock Performance

Shares of AAON opened at $131.26 on Tuesday. AAON, Inc. has a 12 month low of $62.00 and a 12 month high of $150.46. The firm has a fifty day simple moving average of $116.30 and a 200 day simple moving average of $97.99. The stock has a market capitalization of $10.75 billion, a price-to-earnings ratio of 91.79, a PEG ratio of 3.56 and a beta of 1.38. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.17. The firm had revenue of $496.94 million during the quarter, compared to analysts' expectations of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The company's revenue for the quarter was up 54.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 earnings per share. Research analysts forecast that AAON, Inc. will post 2.23 EPS for the current fiscal year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, June 5th. AAON's dividend payout ratio (DPR) is currently 27.97%.

Analysts Set New Price Targets

Several equities research analysts have commented on AAON shares. Zacks Research raised shares of AAON from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 11th. Oppenheimer reaffirmed an "outperform" rating on shares of AAON in a research note on Friday, May 8th. Finally, William Blair reaffirmed an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $112.00.

AAON Profile

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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