Tribune Investment Group LP Invests $6.25 Million in AAON, Inc. $AAON

Key Points

• Tribune Investment Group LP has acquired a new stake in AAON, purchasing 80,000 shares valued at approximately $6.25 million, making it the 15th largest holding for the firm.
• AAON's stock recently opened at $80.09, with a market cap of $6.53 billion, and has seen a significant decline, down 2.7%.
• Following a quarterly earnings report that missed expectations, AAON declared a $0.10 quarterly dividend to be paid on September 26, representing a 0.5% yield.

Tribune Investment Group LP acquired a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 80,000 shares of the construction company's stock, valued at approximately $6,250,000. AAON accounts for about 2.7% of Tribune Investment Group LP's holdings, making the stock its 15th largest holding. Tribune Investment Group LP owned approximately 0.10% of AAON at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Blair William & Co. IL lifted its position in AAON by 86.2% during the 1st quarter. Blair William & Co. IL now owns 2,177,688 shares of the construction company's stock worth $170,143,000 after acquiring an additional 1,007,906 shares during the period. Mawer Investment Management Ltd. purchased a new position in shares of AAON in the first quarter worth about $44,219,000. Brown Advisory Inc. purchased a new position in shares of AAON in the first quarter worth about $41,180,000. Impax Asset Management Group plc acquired a new stake in shares of AAON during the first quarter worth about $36,223,000. Finally, Federated Hermes Inc. boosted its position in AAON by 5,973.3% in the first quarter. Federated Hermes Inc. now owns 390,632 shares of the construction company's stock valued at $30,520,000 after buying an additional 384,200 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AAON shares. Robert W. Baird reduced their price target on shares of AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Sidoti raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price for the company in a report on Monday, June 16th. DA Davidson lowered their price target on shares of AAON from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Finally, Wall Street Zen downgraded AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to MarketBeat, AAON currently has a consensus rating of "Buy" and an average price target of $102.00.

AAON Price Performance

Shares of AAON stock traded up $0.10 during trading hours on Tuesday, reaching $83.67. The stock had a trading volume of 203,817 shares, compared to its average volume of 1,015,354. The stock's 50 day moving average is $78.06 and its 200 day moving average is $85.90. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $144.07. The firm has a market capitalization of $6.82 billion, a PE ratio of 56.88 and a beta of 0.94.

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). The business had revenue of $311.57 million for the quarter, compared to analyst estimates of $326.15 million. AAON had a net margin of 9.70% and a return on equity of 15.45%. AAON's revenue was down .6% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. Equities analysts expect that AAON, Inc. will post 2.26 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 26th. Stockholders of record on Friday, September 5th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, September 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. AAON's dividend payout ratio (DPR) is 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.