M&T Bank Corp Acquires 22,662 Shares of AAON, Inc. $AAON

Key Points

• M&T Bank Corp boosted its position in AAON by 79.4% in Q4, acquiring 22,662 shares to hold 51,207 shares worth about $3.78 million (≈0.06% of the company).
• Company insiders sold a total of 14,804 shares last quarter — including Casey Kidwell (5,225 shares at $90) and CAO Rebecca Thompson (7,292 shares at $100.10) — leaving insiders with 18.09% ownership.
• AAON reported Q results with revenue of $424.22 million (up 42.5% YoY) beating estimates but EPS of $0.39 missed expectations; the stock trades near $99.59 with a PE of 76.61 and a consensus analyst rating of Moderate Buy (price target $107.75).

M&T Bank Corp grew its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 79.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,207 shares of the construction company's stock after acquiring an additional 22,662 shares during the quarter. M&T Bank Corp owned 0.06% of AAON worth $3,780,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of AAON by 7.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,764 shares of the construction company's stock valued at $1,812,000 after acquiring an additional 1,551 shares during the period. Tributary Capital Management LLC bought a new stake in shares of AAON in the fourth quarter valued at about $659,000. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new stake in shares of AAON in the fourth quarter valued at about $111,000. Third View Private Wealth LLC bought a new stake in shares of AAON in the fourth quarter valued at about $234,000. Finally, Personal CFO Solutions LLC boosted its position in shares of AAON by 8.6% in the fourth quarter. Personal CFO Solutions LLC now owns 3,577 shares of the construction company's stock valued at $273,000 after acquiring an additional 282 shares during the period. Institutional investors own 70.81% of the company's stock.

Insider Transactions at AAON

In other AAON news, insider Casey Kidwell sold 5,225 shares of AAON stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $90.00, for a total value of $470,250.00. Following the transaction, the insider owned 12,662 shares in the company, valued at $1,139,580. The trade was a 29.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rebecca Thompson sold 7,292 shares of AAON stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $100.10, for a total value of $729,929.20. Following the completion of the transaction, the chief accounting officer owned 27,681 shares in the company, valued at approximately $2,770,868.10. This represents a 20.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 14,804 shares of company stock worth $1,429,131. Company insiders own 18.09% of the company's stock.

AAON Price Performance

AAON stock opened at $99.59 on Monday. The company has a market cap of $8.13 billion, a PE ratio of 76.61, a price-to-earnings-growth ratio of 3.11 and a beta of 1.20. The business has a 50-day simple moving average of $90.85 and a 200 day simple moving average of $91.03. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $116.04. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.45.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The construction company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). The company had revenue of $424.22 million during the quarter, compared to analyst estimates of $374.10 million. AAON had a net margin of 7.46% and a return on equity of 13.13%. The firm's revenue for the quarter was up 42.5% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. Sell-side analysts anticipate that AAON, Inc. will post 2 EPS for the current fiscal year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Wednesday, March 18th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, March 18th. AAON's payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AAON. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Oppenheimer reaffirmed an "outperform" rating and issued a $118.00 price target (up from $115.00) on shares of AAON in a research note on Tuesday, March 3rd. DA Davidson reaffirmed a "buy" rating and issued a $120.00 price target on shares of AAON in a research note on Tuesday, February 3rd. William Blair reaffirmed an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of AAON in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.75.

About AAON

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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