King Luther Capital Management Corp Invests $289,000 in AAON, Inc. (NASDAQ:AAON)

Key Points

• King Luther Capital Management Corp has invested $289,000 in AAON, Inc. by purchasing 3,700 shares during the first quarter of the year.
• Several large investors have significantly increased their stakes in AAON, including Rakuten Securities, which grew its holdings by 613.3%.
• AAON recently reported earnings that fell short of expectations, with a net margin of 9.70% and a return on equity of 15.55%.

King Luther Capital Management Corp acquired a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 3,700 shares of the construction company's stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can grew its stake in shares of AAON by 5.1% during the 4th quarter. Bank of Montreal Can now owns 10,073 shares of the construction company's stock worth $1,185,000 after purchasing an additional 486 shares during the period. Barclays PLC raised its stake in shares of AAON by 34.9% during the 4th quarter. Barclays PLC now owns 113,985 shares of the construction company's stock worth $13,414,000 after buying an additional 29,513 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of AAON by 679.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 20,713 shares of the construction company's stock worth $2,438,000 after buying an additional 18,056 shares during the last quarter. Bridgewater Associates LP acquired a new position in shares of AAON during the 4th quarter worth $385,000. Finally, PEAK6 LLC acquired a new position in shares of AAON during the 4th quarter worth $1,686,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

AAON Price Performance

AAON stock traded down $3.56 during trading on Friday, hitting $79.55. The stock had a trading volume of 1,315,222 shares, compared to its average volume of 1,701,280. The company's 50 day moving average price is $77.55 and its two-hundred day moving average price is $87.58. AAON, Inc. has a 1-year low of $62.00 and a 1-year high of $144.07. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 54.12 and a beta of 0.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 3.10.

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

AAON Dividend Announcement

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

Analyst Upgrades and Downgrades

AAON has been the subject of several research reports. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target for the company in a research note on Monday, June 16th. Robert W. Baird cut their price target on AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, DA Davidson cut their price target on AAON from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $102.00.

Insider Buying and Selling

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of AAON stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total value of $2,225,632.96. Following the completion of the sale, the director owned 8,754 shares in the company, valued at $914,617.92. The trade was a 70.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 18.70% of the stock is owned by company 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.