Pembroke Management LTD Buys 79,287 Shares of AAON, Inc. $AAON

Key Points

• Pembroke Management LTD boosted its stake in AAON, Inc. by 34.7%, acquiring an additional 79,287 shares and now holds approximately 3.6% of AAON's total holdings.
• Insider Christopher Douglas Eason sold 12,003 shares at an average price of $85.08, significantly reducing his position by 69.37%.
• AAON's latest quarterly earnings report showed a missed earnings estimate of $0.22 per share compared to the expected $0.31, with revenue also declining year-over-year.

Pembroke Management LTD boosted its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 34.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 307,685 shares of the construction company's stock after acquiring an additional 79,287 shares during the period. AAON makes up approximately 3.6% of Pembroke Management LTD's holdings, making the stock its 8th largest holding. Pembroke Management LTD owned approximately 0.38% of AAON worth $24,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AAON. Rakuten Securities Inc. increased its stake in AAON by 613.3% during the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after acquiring an additional 276 shares during the period. Versant Capital Management Inc grew its stake in shares of AAON by 652.3% in the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock valued at $26,000 after purchasing an additional 287 shares during the period. Quarry LP grew its stake in shares of AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after purchasing an additional 103 shares during the period. UMB Bank n.a. grew its stake in shares of AAON by 81.2% in the 1st quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock valued at $46,000 after purchasing an additional 264 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of AAON by 26.3% in the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock valued at $56,000 after purchasing an additional 149 shares during the period. 70.81% of the stock is currently owned by institutional investors.

Insider Transactions at AAON

In other AAON news, insider Christopher Douglas Eason sold 12,003 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the transaction, the insider owned 5,301 shares of the company's stock, valued at approximately $451,009.08. This represents a 69.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 18.55% of the company's stock.

AAON Price Performance

Shares of AAON traded down $2.17 on Friday, hitting $82.95. The company's stock had a trading volume of 861,153 shares, compared to its average volume of 1,485,071. The company has a market capitalization of $6.76 billion, a PE ratio of 56.43 and a beta of 1.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.10 and a quick ratio of 1.99. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $144.07. The company has a 50 day moving average price of $79.04 and a 200 day moving average price of $85.12.

AAON (NASDAQ:AAON - Get Free Report) last announced its earnings results on Monday, August 11th. The construction company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.09). AAON had a return on equity of 15.45% and a net margin of 9.70%.The business had revenue of $311.57 million during the quarter, compared to analyst estimates of $326.15 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm's revenue was down .6% compared to the same quarter last year. On average, research analysts anticipate that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.40 annualized dividend and a yield of 0.5%. AAON's dividend payout ratio is currently 27.21%.

Analyst Ratings Changes

Several research firms have recently weighed in on AAON. Robert W. Baird lowered their price objective on AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Wall Street Zen lowered AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 17th. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective on the stock in a research note on Monday, June 16th. Finally, DA Davidson reduced their target price on AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, AAON presently has a consensus rating of "Buy" and an average target price of $102.00.

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.