Russell Investments Group Ltd. Raises Stake in AAON, Inc. $AAON

Key Points

• Russell Investments Group Ltd. increased its stake in AAON, Inc. by 119.3% in the first quarter, totaling approximately $8.39 million worth of shares.
• AAON reported a quarterly earnings miss on August 11, with earnings per share of $0.22 compared to a consensus estimate of $0.31.
• The company announced a $0.10 per share quarterly dividend, which will be paid on September 26th, representing a 0.5% yield.

Russell Investments Group Ltd. lifted its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 119.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,365 shares of the construction company's stock after purchasing an additional 58,406 shares during the quarter. Russell Investments Group Ltd. owned about 0.13% of AAON worth $8,388,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AAON. Rakuten Securities Inc. grew its holdings in AAON by 613.3% in the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after purchasing an additional 276 shares during the last quarter. Versant Capital Management Inc grew its stake 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 acquiring an additional 287 shares during the last quarter. Quarry LP increased its holdings in AAON by 49.0% during the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after acquiring an additional 103 shares in the last quarter. UMB Bank n.a. raised its position in AAON by 81.2% during the first quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock worth $46,000 after acquiring an additional 264 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of AAON by 26.3% in the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock valued at $56,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AAON shares. DA Davidson dropped their price objective on shares of AAON from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. 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 report on Tuesday, August 12th. Wall Street Zen downgraded AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. Finally, Sidoti raised 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. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $102.00.

AAON Trading Down 2.8%

Shares of AAON traded down $2.41 during mid-day trading on Monday, hitting $83.57. The company had a trading volume of 966,494 shares, compared to its average volume of 1,599,811. AAON, Inc. has a 1-year low of $62.00 and a 1-year high of $144.07. The business's 50-day simple moving average is $78.06 and its 200-day simple moving average is $85.90. The stock has a market cap of $6.81 billion, a PE ratio of 56.85 and a beta of 0.94. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38.

AAON (NASDAQ:AAON - Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts' expectations of $326.15 million. AAON had a return on equity of 15.45% and a net margin of 9.70%.The business's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. Sell-side analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors 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 (DPR) is presently 27.21%.

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.