Wealth Enhancement Advisory Services LLC Buys 26,542 Shares of AAON, Inc. (NASDAQ:AAON)

Wealth Enhancement Advisory Services LLC boosted its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 1,485.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,329 shares of the construction company's stock after purchasing an additional 26,542 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in AAON were worth $2,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Twin Tree Management LP bought a new stake in AAON in the fourth quarter valued at about $33,000. Quarry LP increased its holdings in AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after purchasing an additional 103 shares during the last quarter. Versant Capital Management Inc increased its holdings in AAON by 652.3% in the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company's stock valued at $26,000 after purchasing an additional 287 shares during the last quarter. Whittier Trust Co. bought a new stake in AAON in the fourth quarter valued at about $46,000. Finally, Park Square Financial Group LLC bought a new stake in AAON in the fourth quarter valued at about $57,000. Institutional investors own 70.81% of the company's stock.

AAON Stock Up 1.6%

NASDAQ:AAON opened at $73.59 on Friday. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 38.73 and a beta of 1.03. The stock has a 50-day moving average price of $89.91 and a two-hundred day moving average price of $98.52. AAON, Inc. has a 1 year low of $68.98 and a 1 year high of $144.07. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.13. The company had revenue of $322.05 million for the quarter, compared to analyst estimates of $289.16 million. AAON had a return on equity of 20.23% and a net margin of 12.60%. The company's quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. As a group, equities analysts expect that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, June 6th. This represents a $0.40 annualized dividend and a yield of 0.54%. AAON's payout ratio is presently 21.05%.

AAON announced that its board has initiated a stock repurchase plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded AAON from a "sell" rating to a "hold" rating in a report on Friday. 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, June 16th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $111.50.

Insider Buying and Selling

In other AAON news, CEO Gary D. Fields sold 37,189 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total value of $3,651,959.80. Following the sale, the chief executive officer now owns 63,714 shares in the company, valued at $6,256,714.80. This represents a 36.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gordon Douglas Wichman sold 3,975 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $105.75, for a total value of $420,356.25. Following the completion of the sale, the director now owns 8,754 shares in the company, valued at $925,735.50. This represents a 31.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,823 shares of company stock worth $7,122,451. Corporate 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.

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