West Coast Financial LLC Sells 29,625 Shares of AAON, Inc. (NASDAQ:AAON)

West Coast Financial LLC lessened its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 36.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,057 shares of the construction company's stock after selling 29,625 shares during the quarter. West Coast Financial LLC owned approximately 0.06% of AAON worth $3,989,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of AAON by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company's stock worth $734,262,000 after purchasing an additional 75,832 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of AAON by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock worth $351,615,000 after purchasing an additional 150,207 shares during the period. Invesco Ltd. raised its holdings in shares of AAON by 15.6% in the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock worth $239,184,000 after purchasing an additional 274,119 shares during the period. Geode Capital Management LLC raised its holdings in shares of AAON by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company's stock worth $145,692,000 after purchasing an additional 3,644 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of AAON by 4.2% in the 4th quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company's stock worth $137,660,000 after purchasing an additional 47,254 shares during the period. Institutional investors own 70.81% of the company's stock.

Insider Activity

In other news, Director Gordon Douglas Wichman sold 21,302 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the completion of the transaction, the director now directly owns 8,754 shares in the company, valued at $914,617.92. The trade was a 70.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $98.66, for a total transaction of $824,501.62. Following 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 disclosure for this sale can be found here. Insiders sold 70,823 shares of company stock worth $7,122,451 in the last three months. Corporate insiders own 18.70% of the company's stock.

AAON Stock Performance

AAON stock traded up $1.83 during mid-day trading on Friday, reaching $96.68. The company's stock had a trading volume of 658,877 shares, compared to its average volume of 657,006. AAON, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07. The company has a market capitalization of $7.87 billion, a P/E ratio of 42.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The firm's fifty day moving average price is $91.37 and its two-hundred day moving average price is $104.98.

AAON (NASDAQ:AAON - Get Free Report) last released 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 firm had revenue of $322.05 million during the quarter, compared to analyst estimates of $289.16 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The business's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 EPS. Sell-side analysts predict that AAON, Inc. will post 2.26 EPS for the current fiscal year.

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

AAON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.41%. AAON's dividend payout ratio (DPR) is currently 21.05%.

Analyst Ratings Changes

A number of research firms recently commented on AAON. DA Davidson lowered their price target on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 28th. CJS Securities upgraded shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research note on Friday, February 28th. Robert W. Baird reduced their price objective on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. Finally, Wall Street Zen lowered shares of AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $115.50.

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.