Teacher Retirement System of Texas Makes New Investment in AAON, Inc. (NASDAQ:AAON)

Teacher Retirement System of Texas bought a new position in AAON, Inc. (NASDAQ:AAON - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,099 shares of the construction company's stock, valued at approximately $789,000.

Other hedge funds have also recently modified their holdings of the company. WCM Investment Management LLC purchased a new stake in AAON during the first quarter worth $15,339,000. Peregrine Capital Management LLC increased its holdings in AAON by 71.6% in the first quarter. Peregrine Capital Management LLC now owns 124,292 shares of the construction company's stock valued at $9,711,000 after buying an additional 51,857 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of AAON by 32.3% in the first quarter. New York State Teachers Retirement System now owns 27,236 shares of the construction company's stock worth $2,128,000 after acquiring an additional 6,653 shares during the period. KBC Group NV boosted its stake in shares of AAON by 11.8% during the 1st quarter. KBC Group NV now owns 3,022 shares of the construction company's stock worth $236,000 after acquiring an additional 319 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of AAON by 107.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 654,794 shares of the construction company's stock worth $51,833,000 after acquiring an additional 339,558 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

AAON Price Performance

Shares of NASDAQ AAON traded up $5.19 during trading on Thursday, hitting $79.46. The company had a trading volume of 1,113,461 shares, compared to its average volume of 687,905. The stock has a fifty day simple moving average of $86.08 and a two-hundred day simple moving average of $94.18. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 41.82 and a beta of 0.95. The company has a quick ratio of 1.80, a current ratio of 2.77 and a debt-to-equity ratio of 0.29.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.13. AAON had a net margin of 12.60% and a return on equity of 20.23%. The firm had revenue of $322.05 million during the quarter, compared to the consensus estimate of $289.16 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The company's revenue for the quarter was up 22.9% on a year-over-year basis. On average, research analysts expect that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.50%. AAON's dividend payout ratio (DPR) is presently 21.05%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target for the company in a research note on Monday, June 16th. Wall Street Zen raised AAON from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $111.50.

Insider Activity at AAON

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of AAON stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the sale, the director owned 8,754 shares of the company's stock, valued at $914,617.92. The trade was a 70.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary D. Fields sold 37,189 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the sale, the chief executive officer directly owned 63,714 shares of the company's stock, valued at $6,256,714.80. The trade was a 36.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,823 shares of company stock worth $7,122,451. Company insiders own 18.70% of the company's stock.

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.