5,000 Shares in AAON, Inc. $AAON Acquired by Penn Mutual Asset Management

Key Points

• Penn Mutual Asset Management acquired 5,000 shares of AAON, Inc. valued at approximately $391,000, marking a new stake during the first quarter.
• AAON reported $0.22 earnings per share for the last quarter, missing analysts' estimates, with revenues of $311.57 million down 0.6% year-over-year.
• The company announced a quarterly dividend of $0.10 per share, reflecting a 0.5% yield, with payment to be made on September 26th.

Penn Mutual Asset Management purchased a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,000 shares of the construction company's stock, valued at approximately $391,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blair William & Co. IL grew its position in shares of AAON by 86.2% during the 1st quarter. Blair William & Co. IL now owns 2,177,688 shares of the construction company's stock worth $170,143,000 after purchasing an additional 1,007,906 shares in the last quarter. Mawer Investment Management Ltd. acquired a new stake in shares of AAON in the first quarter valued at approximately $44,219,000. Brown Advisory Inc. acquired a new stake in shares of AAON in the first quarter valued at approximately $41,180,000. First Trust Advisors LP boosted 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 valued at $125,813,000 after buying an additional 493,219 shares during the period. Finally, Impax Asset Management Group plc acquired a new stake in AAON during the first quarter worth approximately $36,223,000. Institutional investors and hedge funds own 70.81% of the company's stock.

AAON Price Performance

Shares of AAON stock traded down $2.22 during midday trading on Wednesday, hitting $80.09. 842,427 shares of the company traded hands, compared to its average volume of 1,022,660. The firm's fifty day moving average price is $77.38 and its 200-day moving average price is $86.95. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 54.48 and a beta of 0.94. AAON, Inc. has a 12 month low of $62.00 and a 12 month high of $144.07. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10.

AAON (NASDAQ:AAON - Get Free Report) last issued its earnings results on Monday, August 11th. The construction company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.09). The company had revenue of $311.57 million during the quarter, compared to analyst estimates of $326.15 million. AAON had a net margin of 9.70% and a return on equity of 15.45%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 EPS. As a group, sell-side analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Announces Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on AAON. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective for the company in a report on Monday, June 16th. Robert W. Baird dropped their price target on AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. DA Davidson cut 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. Finally, Wall Street Zen lowered shares of AAON from a "hold" rating to a "strong sell" rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $102.00.

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.