Value Aligned Research Advisors LLC Makes New Investment in AAON, Inc. $AAON

Key Points

• Value Aligned Research Advisors LLC has acquired a new position in AAON, Inc., purchasing 38,462 shares valued at approximately $3 million, making it their 27th largest holding.
• Multiple institutional investors, including Vanguard Group and Blair William & Co., significantly increased their stakes in AAON during the first quarter of the year.
• AAON recently announced a quarterly dividend of $0.10 per share, with an annual yield of 0.5%, along with reported earnings that missed consensus estimates.

Value Aligned Research Advisors LLC bought a new stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 38,462 shares of the construction company's stock, valued at approximately $3,005,000. AAON accounts for approximately 0.2% of Value Aligned Research Advisors LLC's investment portfolio, making the stock its 27th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAON. Vanguard Group Inc. lifted its holdings in shares of AAON by 4.4% in the first quarter. Vanguard Group Inc. now owns 6,516,204 shares of the construction company's stock worth $509,111,000 after buying an additional 276,722 shares in the last quarter. Blair William & Co. IL increased its holdings in AAON by 86.2% in the 1st quarter. Blair William & Co. IL now owns 2,177,688 shares of the construction company's stock valued at $170,143,000 after acquiring an additional 1,007,906 shares during the last quarter. Geneva Capital Management LLC lifted its stake in AAON by 13.1% in the 1st quarter. Geneva Capital Management LLC now owns 1,897,728 shares of the construction company's stock worth $148,269,000 after purchasing an additional 219,814 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of AAON by 5.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,402,803 shares of the construction company's stock valued at $109,598,000 after purchasing an additional 66,536 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of AAON by 39.7% in the first quarter. Bank of New York Mellon Corp now owns 1,101,692 shares of the construction company's stock worth $86,075,000 after buying an additional 312,855 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AAON. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price target for the company in a report on Monday, June 16th. Wall Street Zen lowered shares of AAON from a "hold" rating to a "strong sell" rating in a report on Sunday, August 17th. Robert W. Baird reduced their price target on shares of AAON from $102.00 to $98.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Finally, DA Davidson lowered their price objective 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. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to MarketBeat, AAON presently has an average rating of "Buy" and a consensus price target of $102.00.

Insider Buying and Selling

In related news, insider Christopher Douglas Eason sold 12,003 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $85.08, for a total value of $1,021,215.24. Following the transaction, the insider owned 5,301 shares of the company's stock, valued at $451,009.08. This trade represents a 69.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 18.55% of the stock is owned by corporate insiders.

AAON Trading Down 1.8%

NASDAQ AAON traded down $1.44 during trading on Wednesday, hitting $80.25. The stock had a trading volume of 464,768 shares, compared to its average volume of 1,442,235. AAON, Inc. has a one year low of $62.00 and a one year high of $144.07. The stock has a 50 day simple moving average of $79.57 and a 200 day simple moving average of $84.85. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of 54.57 and a beta of 1.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The construction company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.09). AAON had a return on equity of 15.45% and a net margin of 9.70%.The business had revenue of $311.57 million during the quarter, compared to analysts' expectations of $326.15 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company's quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts predict that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The business also recently declared 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. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 5th. AAON's dividend payout ratio (DPR) is currently 27.21%.

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.