United Services Automobile Association Takes Position 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 purchased a new position in AAON, Inc. (NASDAQ:AAON - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,460 shares of the construction company's stock, valued at approximately $348,000.

Other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. boosted its position in shares of AAON by 613.3% in the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock worth $25,000 after purchasing an additional 276 shares during the period. Versant Capital Management Inc boosted its position in shares of AAON by 652.3% in the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after purchasing an additional 287 shares during the period. Park Square Financial Group LLC bought a new position in shares of AAON in the fourth quarter worth approximately $57,000. UMB Bank n.a. boosted its position in shares of AAON by 81.2% in the first quarter. UMB Bank n.a. now owns 589 shares of the construction company's stock worth $46,000 after purchasing an additional 264 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of AAON by 26.3% in the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company's stock worth $56,000 after purchasing an additional 149 shares during the period. 70.81% of the stock is currently owned by institutional investors.

AAON Stock Down 1.8%

Shares of NASDAQ:AAON traded down $1.50 during trading on Wednesday, reaching $82.49. The stock had a trading volume of 275,011 shares, compared to its average volume of 1,010,625. AAON, Inc. has a one year low of $62.00 and a one year high of $144.07. The company has a market capitalization of $6.73 billion, a P/E ratio of 56.12 and a beta of 1.00. The company has a current ratio of 3.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.38. The firm's 50-day simple moving average is $80.96 and its 200 day simple moving average is $83.53.

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

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid 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 27.21%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CFO Rebecca Thompson sold 9,350 shares of AAON stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total transaction of $758,191.50. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Douglas Eason sold 12,003 shares of the business's stock in a transaction 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 directly owned 5,301 shares of the company's stock, valued at approximately $451,009.08. The trade was a 69.37% decrease in their position. The disclosure for this sale can be found here. 18.55% of the stock is owned by company insiders.

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.