Price T Rowe Associates Inc. MD Grows Position in AAON, Inc. $AAON

Key Points

• Price T Rowe Associates Inc. MD has increased its stake in AAON, Inc. by 5.7% during the first quarter, now owning approximately 646,890 shares worth about $50.5 million.
• AAON recently reported a net margin of 9.70% and earnings per share of $0.22 for the last quarter, falling short of analysts' expectations of $0.31.
• The company announced a quarterly dividend of $0.10 per share, payable on September 26th, with an annualized yield of 0.5%.

Price T Rowe Associates Inc. MD raised its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 646,890 shares of the construction company's stock after purchasing an additional 34,938 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.80% of AAON worth $50,542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AAON. Integrated Wealth Concepts LLC lifted its holdings in AAON by 17.9% during the fourth quarter. Integrated Wealth Concepts LLC now owns 13,534 shares of the construction company's stock valued at $1,593,000 after purchasing an additional 2,057 shares during the last quarter. Voya Investment Management LLC increased its position in shares of AAON by 184.5% during the fourth quarter. Voya Investment Management LLC now owns 90,559 shares of the construction company's stock valued at $10,657,000 after buying an additional 58,727 shares during the period. Quarry LP increased its position in shares of AAON by 49.0% during the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after buying an additional 103 shares during the period. Northern Trust Corp increased its position in shares of AAON by 27.3% during the fourth quarter. Northern Trust Corp now owns 625,406 shares of the construction company's stock valued at $73,598,000 after buying an additional 133,961 shares during the period. Finally, Park West Asset Management LLC bought a new stake in shares of AAON during the fourth quarter valued at about $24,124,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Performance

NASDAQ:AAON opened at $84.69 on Wednesday. The firm has a market cap of $6.90 billion, a PE ratio of 57.61 and a beta of 0.94. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week 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. The business has a 50 day moving average price of $78.29 and a 200-day moving average price of $85.89.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data 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). AAON had a net margin of 9.70% and a return on equity of 15.45%. The company had revenue of $311.57 million for the quarter, compared to analysts' expectations of $326.15 million. During the same period last year, the company posted $0.62 EPS. The business's revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts predict 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. Shareholders of record on Friday, September 5th will be issued a $0.10 dividend. 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 dividend payout ratio is 27.21%.

Analyst Ratings Changes

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

Want to see what other hedge funds are holding AAON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AAON, Inc. (NASDAQ:AAON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.