Neuberger Berman Group LLC Has $3.70 Million Stake in AAON, Inc. $AAON

Key Points

• Neuberger Berman Group LLC has reduced its stake in AAON, Inc. by 21%, selling 12,596 shares and now holding 47,356 shares valued at approximately $3.7 million.
• Hedge funds collectively own 70.81% of AAON's stock, with Blair William & Co. significantly increasing its holdings by 86.2% in the first quarter of this year.
• AAON recently announced a quarterly dividend of $0.10 per share, translating to an annual yield of 0.5%, with a payout ratio of 27.21%.

Neuberger Berman Group LLC decreased its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 21.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,356 shares of the construction company's stock after selling 12,596 shares during the quarter. Neuberger Berman Group LLC owned about 0.06% of AAON worth $3,700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Bank of Montreal Can lifted its position in 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 acquiring an additional 486 shares in the last quarter. Barclays PLC lifted its position in shares of AAON by 34.9% during the fourth quarter. Barclays PLC now owns 113,985 shares of the construction company's stock worth $13,414,000 after purchasing an additional 29,513 shares during the last quarter. Bridgewater Associates LP bought a new stake in AAON in the fourth quarter valued at about $385,000. PEAK6 LLC acquired a new stake in AAON during the fourth quarter valued at approximately $1,686,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in AAON by 0.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 47,201 shares of the construction company's stock worth $5,550,000 after buying an additional 366 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAON has been the subject of several research reports. Robert W. Baird decreased their price target on shares of AAON from $102.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target on the stock in a research report on Monday, June 16th. Wall Street Zen lowered AAON from a "hold" rating to a "strong sell" rating in a report on Sunday. Finally, DA Davidson reduced their price objective on shares of AAON from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $102.00.

AAON Stock Down 2.5%

NASDAQ AAON traded down $2.0730 during trading on Wednesday, reaching $80.2370. 138,570 shares of the company's stock were exchanged, compared to its average volume of 1,018,066. 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 firm has a market capitalization of $6.54 billion, a PE ratio of 54.62 and a beta of 0.94. The company's fifty day simple moving average is $77.38 and its 200-day simple moving average is $86.95. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last released 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 net margin of 9.70% and a return on equity of 15.45%. The firm had revenue of $311.57 million for the quarter, compared to analyst estimates of $326.15 million. During the same period in the previous year, the business posted $0.62 EPS. AAON's revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts predict that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

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

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.