United Services Automobile Association Makes New $348,000 Investment in AAON, Inc. $AAON

Key Points

• United Services Automobile Association has acquired a new stake in AAON, Inc. by purchasing 4,460 shares valued at approximately $348,000 in the first quarter.
• AAON reported a quarterly earnings miss with $0.22 earnings per share, falling short of the consensus estimate of $0.31, alongside a 9.7% net margin.
• The company announced a $0.10 quarterly dividend, reflecting a 0.5% yield for shareholders of record as of September 5th.

United Services Automobile Association bought a new stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,460 shares of the construction company's stock, valued at approximately $348,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PFG Advisors grew its stake in AAON by 114.8% during the 1st quarter. PFG Advisors now owns 20,836 shares of the construction company's stock valued at $1,628,000 after acquiring an additional 11,136 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in AAON during the 4th quarter valued at about $210,000. Parallel Advisors LLC grew its stake in AAON by 26.3% during the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock valued at $56,000 after acquiring an additional 149 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in AAON during the 1st quarter valued at about $789,000. Finally, Sequoia Financial Advisors LLC grew its stake in AAON by 49.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,197 shares of the construction company's stock valued at $250,000 after acquiring an additional 1,054 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

AAON Stock Down 0.3%

NASDAQ:AAON traded down $0.23 during mid-day trading on Tuesday, reaching $83.27. The stock had a trading volume of 492,157 shares, compared to its average volume of 1,008,694. The business's 50 day moving average is $80.79 and its 200 day moving average is $83.52. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $144.07. The stock has a market cap of $6.79 billion, a P/E ratio of 56.58 and a beta of 1.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.10 and a quick ratio of 1.99.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data 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 return on equity of 15.45% and a net margin of 9.70%.The firm had revenue of $311.57 million during the quarter, compared to analyst estimates of $326.15 million. During the same quarter in the prior year, the company posted $0.62 EPS. The company's quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts predict that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend 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 is presently 27.21%.

Insider Buying and Selling

In other AAON news, insider Christopher Douglas Eason sold 12,003 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the sale, the insider owned 5,301 shares of the company's stock, valued at $451,009.08. This represents a 69.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rebecca Thompson sold 9,350 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total value of $758,191.50. Following the sale, the chief financial officer directly owned 24,396 shares of the company's stock, valued at $1,978,271.64. The trade was a 27.71% decrease in their position. The disclosure for this sale can be found here. 18.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AAON has been the topic of several recent analyst reports. DA Davidson decreased their price objective 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. Sidoti raised shares of AAON from a "neutral" rating to a "buy" rating and set a $95.00 target price on the stock in a research report on Monday, June 16th. Robert W. Baird decreased their price target on shares of AAON from $102.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Finally, Wall Street Zen cut shares of AAON from a "hold" rating to a "strong sell" rating in a research note on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $102.00.

AAON Company 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.