Praxis Investment Management Inc. Takes $265,000 Position in AAON, Inc. $AAON

Key Points

• Praxis Investment Management Inc. has acquired a new stake in AAON, Inc. valued at approximately $265,000, purchasing 3,590 shares during the second quarter.
• AAON has recently disclosed a quarterly dividend of $0.10 per share, which represents an annualized yield of 0.4%.
• Despite a recent stock price drop of 2.8%, AAON maintains a market cap of $7.93 billion and has an average rating of "Moderate Buy" from analysts with a consensus price target of $104.00.

Praxis Investment Management Inc. acquired a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,590 shares of the construction company's stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cresset Asset Management LLC boosted its stake in AAON by 1.3% in the first quarter. Cresset Asset Management LLC now owns 12,151 shares of the construction company's stock valued at $949,000 after acquiring an additional 157 shares during the last quarter. CWM LLC boosted its stake in AAON by 25.7% in the first quarter. CWM LLC now owns 938 shares of the construction company's stock valued at $73,000 after acquiring an additional 192 shares during the last quarter. UMB Bank n.a. boosted its stake in AAON by 32.9% in the second quarter. UMB Bank n.a. now owns 783 shares of the construction company's stock valued at $58,000 after acquiring an additional 194 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in AAON by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the construction company's stock valued at $1,477,000 after acquiring an additional 200 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in AAON by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 7,905 shares of the construction company's stock valued at $617,000 after acquiring an additional 210 shares during the last quarter. 70.81% of the stock is owned by institutional investors.

AAON Trading Down 2.8%

Shares of NASDAQ:AAON opened at $97.24 on Friday. AAON, Inc. has a 12 month low of $62.00 and a 12 month high of $144.07. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38. The company's fifty day simple moving average is $88.70 and its 200 day simple moving average is $86.06. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 66.15 and a beta of 1.05.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The construction company reported $0.37 EPS for the quarter. AAON had a net margin of 9.70% and a return on equity of 15.45%. The business had revenue of $322.05 million for the quarter. As a group, research analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, September 5th. AAON's dividend payout ratio (DPR) is presently 27.21%.

Insiders Place Their Bets

In related news, insider Christopher Douglas Eason sold 12,003 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the sale, the insider directly owned 5,301 shares in the company, valued at $451,009.08. This trade represents a 69.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Rebecca Thompson sold 9,350 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total transaction of $758,191.50. Following the sale, the chief financial officer owned 24,396 shares in the company, valued at approximately $1,978,271.64. The trade was a 27.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 18.70% of the company's stock.

Analysts Set New Price Targets

AAON has been the topic of a number of recent research reports. Wall Street Zen cut shares of AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 17th. DA Davidson reduced their price target on shares of AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Zacks Research raised shares of AAON from a "strong sell" rating to a "hold" rating in a research report on Monday, October 13th. Weiss Ratings reissued a "hold (c)" rating on shares of AAON in a research report on Wednesday, October 8th. Finally, Robert W. Baird reduced their price target on shares of AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, AAON has an average rating of "Moderate Buy" and a consensus price target of $104.00.

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.

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