Vaughan Nelson Investment Management L.P. Sells 104,480 Shares of AAON, Inc. (NASDAQ:AAON)

Vaughan Nelson Investment Management L.P. cut its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 14.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,240 shares of the construction company's stock after selling 104,480 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.73% of AAON worth $46,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Twin Tree Management LP purchased a new stake in shares of AAON during the 4th quarter valued at $33,000. Quarry LP raised its holdings in shares of AAON by 49.0% during the 4th quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after buying an additional 103 shares in the last quarter. Versant Capital Management Inc lifted its position in AAON by 652.3% in the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock worth $26,000 after buying an additional 287 shares during the last quarter. Empowered Funds LLC purchased a new stake in AAON in the fourth quarter worth approximately $42,000. Finally, Whittier Trust Co. bought a new position in AAON during the fourth quarter valued at approximately $46,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

AAON Stock Up 2.6%

AAON stock traded up $1.90 during mid-day trading on Monday, reaching $74.89. The stock had a trading volume of 177,471 shares, compared to its average volume of 676,051. The company has a 50-day moving average price of $91.64 and a two-hundred day moving average price of $102.53. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 33.01 and a beta of 1.03. AAON, Inc. has a one year low of $68.98 and a one year high of $144.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.24 by $0.13. AAON had a return on equity of 24.98% and a net margin of 15.78%. The company had revenue of $322.05 million for the quarter, compared to analysts' expectations of $289.16 million. During the same period last year, the firm posted $0.46 earnings per share. AAON's revenue was up 22.9% compared to the same quarter last year. On average, analysts expect that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Friday, June 6th. AAON's dividend payout ratio (DPR) is presently 21.05%.

AAON announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

AAON has been the topic of a number of analyst reports. Robert W. Baird decreased their target price on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. Wall Street Zen cut AAON from a "hold" rating to a "sell" rating in a report on Saturday. DA Davidson dropped their price objective on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Sidoti upgraded AAON from a "neutral" rating to a "buy" rating and set a $95.00 price objective for the company in a report on Monday. Finally, CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AAON presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.50.

Insider Transactions at AAON

In other news, CEO Gary D. Fields sold 8,357 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $98.66, for a total value of $824,501.62. Following the completion of the sale, the chief executive officer now directly owns 26,491 shares of the company's stock, valued at $2,613,602.06. This represents a 23.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gordon Douglas Wichman sold 3,975 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $105.75, for a total value of $420,356.25. Following the completion of the transaction, the director now directly owns 8,754 shares of the company's stock, valued at approximately $925,735.50. This trade represents a 31.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,823 shares of company stock worth $7,122,451 in the last quarter. 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.