Public Employees Retirement System of Ohio Lowers Stock Holdings in AAON, Inc. $AAON

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in AAON, Inc. by 4.7%, now holding 75,268 shares valued at approximately $5.55 million.
• AAON reported a quarterly earnings per share (EPS) of $0.22, falling short of analysts' expectations of $0.31, and experienced a 0.6% year-over-year decline in revenue to $311.57 million.
• The company announced a quarterly dividend of $0.10 per share, resulting in an annualized yield of 0.4% with a payout ratio of 27.21%.

Public Employees Retirement System of Ohio trimmed its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,268 shares of the construction company's stock after selling 3,743 shares during the period. Public Employees Retirement System of Ohio owned about 0.09% of AAON worth $5,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in AAON. Wealth Enhancement Advisory Services LLC purchased a new stake in AAON in the 4th quarter valued at about $210,000. Wellington Management Group LLP purchased a new stake in AAON in the 4th quarter valued at about $8,310,000. Versant Capital Management Inc boosted its position in 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 buying an additional 287 shares during the period. GAMMA Investing LLC boosted its position in AAON by 7,187.7% in the 1st quarter. GAMMA Investing LLC now owns 119,226 shares of the construction company's stock valued at $9,315,000 after buying an additional 117,590 shares during the period. Finally, Parallel Advisors LLC boosted its position in 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 buying an additional 149 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Trading Up 3.3%

NASDAQ:AAON opened at $91.01 on Monday. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $144.07. The firm has a 50 day moving average of $83.02 and a 200 day moving average of $84.12. 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 stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 61.91 and a beta of 1.00.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Monday, August 11th. The construction company reported $0.22 EPS 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 firm had revenue of $311.57 million for the quarter, compared to analysts' expectations of $326.15 million. During the same period in the previous year, the company earned $0.62 EPS. The company's revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Rebecca Thompson sold 9,350 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total transaction of $758,191.50. Following the completion of the sale, the chief financial officer owned 24,396 shares of the company's stock, valued at $1,978,271.64. This represents a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher Douglas Eason sold 12,003 shares of the company's stock in a transaction that occurred 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 transaction, the insider owned 5,301 shares in the company, valued at $451,009.08. The trade was a 69.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.55% of the company's stock.

Wall Street Analyst Weigh In

AAON has been the subject of several research reports. Wall Street Zen cut shares of AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. Robert W. Baird dropped their price objective on shares of AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. 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 note on Monday, June 16th. Finally, DA Davidson dropped their price objective on shares of AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus 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.

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.