AAON, Inc. (NASDAQ:AAON) Shares Bought by PFG Advisors

PFG Advisors increased its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 114.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,836 shares of the construction company's stock after buying an additional 11,136 shares during the period. PFG Advisors' holdings in AAON were worth $1,628,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new stake in AAON during the 4th quarter valued at $76,581,000. Brown Advisory Inc. purchased a new position in AAON in the 1st quarter valued at approximately $41,180,000. First Trust Advisors LP grew its stake in AAON by 85.6% in the 4th 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 in the last quarter. Impax Asset Management Group plc purchased a new stake in shares of AAON in the first quarter worth about $36,223,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of AAON in the fourth quarter worth about $42,449,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AAON. Wall Street Zen lowered AAON from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Sidoti raised AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target for the company in a research note on Monday, June 16th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $111.50.

Insiders Place Their Bets

In related news, Director Gordon Douglas Wichman sold 21,302 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the transaction, the director directly owned 8,754 shares of the company's stock, valued at $914,617.92. This represents a 70.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gary D. Fields sold 37,189 shares of the stock in a transaction dated 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 directly owned 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,823 shares of company stock valued at $7,122,451. 18.70% of the stock is owned by company insiders.

AAON Price Performance

AAON traded up $5.81 on Friday, hitting $83.37. 1,460,920 shares of the company's stock traded hands, compared to its average volume of 938,214. The company's 50 day simple moving average is $83.01 and its 200-day simple moving average is $92.46. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 43.88 and a beta of 0.95. AAON, Inc. has a one year low of $68.98 and a one year high of $144.07. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29.

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

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Friday, June 6th. AAON's payout ratio is currently 21.05%.

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.