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

Nomura Holdings Inc. bought a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) in the fourth quarter, according to the company in its most recent filing 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 the company. Nuveen Asset Management LLC raised its stake in shares of AAON by 0.9% in the fourth quarter. Nuveen Asset Management LLC now owns 256,266 shares of the construction company's stock valued at $30,157,000 after acquiring an additional 2,383 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in AAON in the 4th quarter worth approximately $800,000. Ensign Peak Advisors Inc raised its position in AAON by 4.4% in the 4th quarter. Ensign Peak Advisors Inc now owns 23,911 shares of the construction company's stock worth $2,814,000 after purchasing an additional 1,010 shares during the last quarter. Driehaus Capital Management LLC raised its position in AAON by 5.5% in the 4th quarter. Driehaus Capital Management LLC now owns 693,407 shares of the construction company's stock worth $81,600,000 after purchasing an additional 36,362 shares during the last quarter. Finally, Cresset Asset Management LLC raised its position in AAON by 4.8% in the 4th quarter. Cresset Asset Management LLC now owns 11,994 shares of the construction company's stock worth $1,411,000 after purchasing an additional 550 shares during the last quarter. Institutional investors own 70.81% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on AAON. Robert W. Baird dropped their price objective 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. CJS Securities upgraded shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research report on Friday, February 28th. DA Davidson dropped their price objective 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. Finally, StockNews.com cut shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, AAON presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.50.

AAON Stock Up 2.7%

Shares of AAON stock opened at $106.87 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The firm's 50-day moving average is $86.05 and its 200-day moving average is $107.73. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 47.08 and a beta of 1.06. AAON, Inc. has a 52-week low of $68.98 and a 52-week high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last issued its earnings results 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 company had revenue of $322.05 million for 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%. AAON's quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. Sell-side analysts predict that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.37%. AAON's payout ratio is 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 outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, Director David Raymond Stewart purchased 1,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, with a total value of $80,860.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at $242,580. The trade was a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gary D. Fields sold 8,357 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $98.66, for a total transaction of $824,501.62. Following the completion of the transaction, the chief executive officer now directly owns 26,491 shares in the company, valued at approximately $2,613,602.06. This represents a 23.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.70% of the stock is owned by insiders.

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.

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