Oppenheimer Asset Management Inc. Boosts Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Oppenheimer Asset Management Inc. lifted its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 60.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,038 shares of the construction company's stock after purchasing an additional 10,137 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in AAON were worth $2,112,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Rakuten Securities Inc. raised its position in AAON by 613.3% in the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after purchasing an additional 276 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of AAON by 652.3% during the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after purchasing an additional 287 shares during the last quarter. Twin Tree Management LP acquired a new position in AAON during the fourth quarter worth approximately $33,000. Quarry LP boosted its holdings in shares of AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after acquiring an additional 103 shares during the period. Finally, Whittier Trust Co. purchased a new position in shares of AAON during the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 70.81% of the company's stock.

AAON Price Performance

NASDAQ AAON traded up $1.13 during trading hours on Friday, reaching $73.59. The company's stock had a trading volume of 1,981,884 shares, compared to its average volume of 685,963. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 2.77. The company's 50-day moving average is $90.09 and its two-hundred day moving average is $99.14. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07. The stock has a market cap of $5.99 billion, a PE ratio of 38.73 and a beta of 1.03.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.24 by $0.13. AAON had a net margin of 12.60% and a return on equity of 20.23%. The business had revenue of $322.05 million for the quarter, compared to analyst estimates of $289.16 million. During the same period in the prior year, the business earned $0.46 earnings per share. The company's quarterly revenue was up 22.9% on a year-over-year basis. Analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.

AAON Dividend Announcement

The business also recently declared 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. The ex-dividend date is 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 (DPR) is 21.05%.

AAON announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. CJS Securities raised AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Friday, February 28th. Robert W. Baird dropped their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective on the stock in a report on Monday, June 16th. Wall Street Zen downgraded AAON from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Finally, DA Davidson lowered their price target on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $111.50.

Insider Activity

In other AAON news, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $98.66, for a total value of $824,501.62. Following the completion of the sale, the chief executive officer now directly owns 26,491 shares of the company's stock, valued at approximately $2,613,602.06. The trade was a 23.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gordon Douglas Wichman sold 3,975 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $105.75, for a total value of $420,356.25. Following the completion of the transaction, the director now owns 8,754 shares of the company's stock, valued at $925,735.50. This trade represents a 31.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,823 shares of company stock worth $7,122,451 over the last three months. 18.70% of the stock is currently owned by corporate insiders.

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.