Squarepoint Ops LLC Increases Stake in AAON, Inc. $AAON

Key Points

• Squarepoint Ops LLC increased its AAON stake by 868.6% in the second quarter, bringing its holdings to 107,045 shares valued at approximately $13.6 million. Institutional investors collectively own 70.81% of the company.
• AAON reported strong quarterly results, with revenue rising 101.2% year over year to $626.98 million and earnings of $0.69 per share, beating analyst expectations of $0.51.
• AAON shares opened at $77.02, near their 52-week low of $73.19 and well below the 52-week high of $150.46. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $126.67, while the company declared a quarterly dividend of $0.10 per share.

Squarepoint Ops LLC lifted its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 868.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,045 shares of the construction company's stock after acquiring an additional 95,994 shares during the quarter. Squarepoint Ops LLC owned 0.13% of AAON worth $13,580,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in AAON by 12,636.0% in the 2nd quarter. California State Teachers Retirement System now owns 10,244,326 shares of the construction company's stock worth $1,299,595,000 after purchasing an additional 10,163,890 shares during the period. Wellington Management Group LLP grew its stake in shares of AAON by 512.5% during the third quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company's stock valued at $442,896,000 after buying an additional 3,966,088 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of AAON by 8,956.4% during the fourth quarter. Franklin Resources Inc. now owns 1,222,706 shares of the construction company's stock valued at $93,231,000 after buying an additional 1,209,205 shares during the last quarter. Norges Bank purchased a new stake in shares of AAON in the fourth quarter worth approximately $41,584,000. Finally, Wasatch Advisors LP raised its holdings in shares of AAON by 27.1% in the third quarter. Wasatch Advisors LP now owns 2,138,959 shares of the construction company's stock worth $199,864,000 after buying an additional 456,560 shares during the period. 70.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AAON shares. KeyCorp reiterated a "sector weight" rating on shares of AAON in a report on Thursday, August 13th. Robert W. Baird reduced their target price on shares of AAON from $150.00 to $135.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AAON in a research note on Tuesday, July 14th. Oppenheimer lowered their price target on AAON from $145.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Finally, Zacks Research cut AAON from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, AAON presently has an average rating of "Moderate Buy" and a consensus target price of $126.67.

AAON Stock Down 3.0%

NASDAQ:AAON opened at $77.02 on Thursday. The company's 50-day simple moving average is $92.64 and its 200-day simple moving average is $103.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.01 and a current ratio of 3.01. AAON, Inc. has a fifty-two week low of $73.19 and a fifty-two week high of $150.46. The stock has a market capitalization of $6.35 billion, a P/E ratio of 40.11, a P/E/G ratio of 1.50 and a beta of 1.41.

AAON (NASDAQ:AAON - Get Free Report) last posted its earnings results on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.18. AAON had a net margin of 8.24% and a return on equity of 17.32%. The company had revenue of $626.98 million during the quarter, compared to analysts' expectations of $508.82 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. AAON's revenue for the quarter was up 101.2% compared to the same quarter last year. On average, equities analysts anticipate that AAON, Inc. will post 2.3 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, September 4th. AAON's payout ratio is 20.83%.

Insider Transactions at AAON

In other AAON news, EVP Matthew Shaub purchased 457 shares of the firm's stock in a transaction on Friday, August 28th. The stock was bought at an average cost of $76.42 per share, for a total transaction of $34,923.94. Following the completion of the purchase, the executive vice president owned 3,136 shares in the company, valued at $239,653.12. This represents a 17.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.09% of the stock is owned by corporate insiders.

AAON Profile

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

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