WCM Investment Management LLC Purchases 12,326 Shares of AAON, Inc. $AAON

Key Points

• WCM Investment Management LLC increased its stake in AAON, Inc. by 6.3%, acquiring an additional 12,326 shares, bringing its total ownership to 208,782 shares valued at approximately $15.36 million.
• Institutional ownership remains high, with 70.81% of AAON stock held by institutional investors and hedge funds, reflecting strong interest from the market.
• AAON recently experienced varied analyst ratings, including a downgrade from a "hold" to a "strong sell" from Wall Street Zen, while Zacks raised their rating to "hold," indicating a mixed outlook from analysts.

WCM Investment Management LLC increased its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 6.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,782 shares of the construction company's stock after purchasing an additional 12,326 shares during the quarter. WCM Investment Management LLC owned approximately 0.26% of AAON worth $15,364,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Rakuten Securities Inc. increased its position in AAON by 613.3% during the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company's stock valued at $25,000 after purchasing an additional 276 shares during the period. UMB Bank n.a. lifted its holdings in shares of AAON by 32.9% in the 2nd quarter. UMB Bank n.a. now owns 783 shares of the construction company's stock worth $58,000 after purchasing an additional 194 shares in the last quarter. CWM LLC lifted its holdings in shares of AAON by 25.7% in the 1st quarter. CWM LLC now owns 938 shares of the construction company's stock worth $73,000 after purchasing an additional 192 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of AAON by 987.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,174 shares of the construction company's stock worth $92,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Trust Co. of Toledo NA OH bought a new position in AAON during the 2nd quarter valued at $91,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAON has been the subject of several research analyst reports. Wall Street Zen lowered AAON from a "hold" rating to a "strong sell" rating in a research report on Sunday, August 17th. Zacks Research raised AAON from a "strong sell" rating to a "hold" rating in a report on Monday. Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a research report on Wednesday, October 8th. DA Davidson dropped their price target on AAON from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Finally, Oppenheimer lifted their price target on AAON from $105.00 to $112.00 and gave the company an "outperform" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.00.

AAON Trading Down 4.0%

NASDAQ AAON opened at $100.05 on Friday. 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 12 month low of $62.00 and a 12 month high of $144.07. The stock has a market cap of $8.16 billion, a P/E ratio of 68.06 and a beta of 1.05. The stock's fifty day moving average price is $88.37 and its 200-day moving average price is $85.91.

AAON (NASDAQ:AAON - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The construction company reported $0.37 EPS for the quarter. AAON had a return on equity of 15.45% and a net margin of 9.70%.The company had revenue of $322.05 million for the quarter. As a group, equities analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, September 5th. AAON's dividend payout ratio (DPR) is 27.21%.

Insider Activity at AAON

In related news, insider Christopher Douglas Eason sold 12,003 shares of AAON 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 sale, the insider owned 5,301 shares of the company's stock, valued at approximately $451,009.08. This trade represents a 69.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rebecca Thompson sold 9,350 shares of AAON 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 completion of the sale, the chief financial officer directly owned 24,396 shares in the company, valued at approximately $1,978,271.64. The trade was a 27.71% decrease in their position. The disclosure for this sale can be found here. 18.70% of the stock is currently 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.

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