Nomura Holdings Inc. Invests $1.05 Million in AAON, Inc. (NASDAQ:AAON)

Nomura Holdings Inc. bought a new position in AAON, Inc. (NASDAQ:AAON - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,952 shares of the construction company's stock, valued at approximately $1,053,000.

A number of other institutional investors also recently modified their holdings of AAON. Norges Bank bought a new position in shares of AAON in the fourth quarter worth about $76,581,000. Raymond James Financial Inc. bought a new position in shares of AAON in the fourth quarter worth about $73,313,000. First Trust Advisors LP raised its stake in shares of AAON by 85.6% in the fourth quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company's stock worth $125,813,000 after acquiring an additional 493,219 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of AAON during the 4th quarter worth approximately $42,449,000. Finally, Invesco Ltd. grew its position in shares of AAON by 15.6% during the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock worth $239,184,000 after buying an additional 274,119 shares during the period. 70.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. DA Davidson lowered their price target on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Wall Street Zen cut shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Robert W. Baird lowered their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research report on Friday, February 28th. Finally, CJS Securities upgraded shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $115.50.

Insider Activity at AAON

In other news, CEO Gary D. Fields sold 37,189 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total value of $3,651,959.80. Following the completion of the transaction, the chief executive officer now owns 63,714 shares in the company, valued at $6,256,714.80. This represents a 36.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon Douglas Wichman sold 21,302 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the completion of the transaction, the director now owns 8,754 shares of the company's stock, valued at $914,617.92. This trade represents a 70.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,823 shares of company stock worth $7,122,451. 18.55% of the stock is currently owned by company insiders.

AAON Trading Down 0.8%

NASDAQ AAON traded down $0.84 during trading on Friday, reaching $99.10. 291,927 shares of the stock traded hands, compared to its average volume of 664,522. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 43.66 and a beta of 1.06. The stock's 50-day moving average price is $88.16 and its 200 day moving average price is $107.33. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.13. The firm had revenue of $322.05 million during the quarter, compared to analysts' expectations of $289.16 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The business's revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 earnings per share. Analysts predict that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

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

AAON declared that its board has authorized a stock buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

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.