MFG Wealth Management Inc. Sells 5,731 Shares of AAON, Inc. (NASDAQ:AAON)

MFG Wealth Management Inc. reduced its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 36.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,992 shares of the construction company's stock after selling 5,731 shares during the period. MFG Wealth Management Inc.'s holdings in AAON were worth $781,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in AAON in the fourth quarter worth $1,929,000. Amalgamated Bank grew its position in AAON by 0.7% in the fourth quarter. Amalgamated Bank now owns 34,957 shares of the construction company's stock worth $4,114,000 after acquiring an additional 237 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in AAON in the fourth quarter worth $644,000. Oppenheimer Asset Management Inc. grew its position in AAON by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 16,901 shares of the construction company's stock worth $1,989,000 after acquiring an additional 425 shares in the last quarter. Finally, US Bancorp DE grew its position in AAON by 3.7% in the fourth quarter. US Bancorp DE now owns 50,259 shares of the construction company's stock worth $5,914,000 after acquiring an additional 1,785 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AAON

In other news, Director Gordon Douglas Wichman sold 3,975 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $105.75, for a total transaction of $420,356.25. Following the completion of the sale, the director now directly owns 8,754 shares in the company, valued at approximately $925,735.50. This represents a 31.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gary D. Fields sold 37,189 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the transaction, the chief executive officer now directly owns 63,714 shares of the company's stock, valued at approximately $6,256,714.80. The trade was a 36.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,823 shares of company stock worth $7,122,451. Company insiders own 18.55% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on AAON shares. Wall Street Zen upgraded shares of AAON from a "sell" rating to a "hold" rating in a research report on Friday. Sidoti upgraded shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price for the company in a research report on Monday, June 16th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $111.50.

AAON Trading Up 1.6%

NASDAQ AAON traded up $1.13 during trading on Friday, hitting $73.59. 1,981,884 shares of the company's stock traded hands, compared to its average volume of 654,264. The stock has a fifty day moving average of $89.91 and a two-hundred day moving average of $98.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.77 and a quick ratio of 1.80. AAON, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07. The firm has a market cap of $5.99 billion, a P/E ratio of 38.73 and a beta of 1.03.

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, topping analysts' consensus estimates of $0.24 by $0.13. The company had revenue of $322.05 million during the quarter, compared to analyst estimates of $289.16 million. AAON had a net margin of 12.60% and a return on equity of 20.23%. AAON's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. As a group, sell-side analysts expect that AAON, Inc. will post 2.26 EPS for the current year.

AAON declared that its board has initiated a share buyback program 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 programs are usually an indication that the company's board of directors believes its shares are undervalued.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. AAON's dividend payout ratio is currently 21.05%.

About AAON

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.