Insider Buying: AAON (NASDAQ:AAON) EVP Purchases 457 Shares of Stock

Key Points

• AAON EVP Matthew Shaub purchased 457 shares at an average price of $76.42, increasing his direct ownership by 17.06% to 3,136 shares.
• AAON reported strong quarterly results, with EPS of $0.69 versus the $0.51 consensus estimate and revenue of $626.98 million, up 101.2% year over year.
• The company declared a quarterly dividend of $0.10 per share, equivalent to an annualized $0.40 payout and a 0.5% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $126.67.

AAON, Inc. (NASDAQ:AAON - Get Free Report) EVP Matthew Shaub acquired 457 shares of the firm's stock in a transaction on Friday, August 28th. The shares were bought at an average cost of $76.42 per share, with a total value of $34,923.94. Following the completion of the acquisition, the executive vice president directly owned 3,136 shares in the company, valued at approximately $239,653.12. This represents a 17.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

AAON Stock Up 0.5%

Shares of AAON stock traded up $0.35 during trading hours on Monday, reaching $76.22. The company had a trading volume of 307,918 shares, compared to its average volume of 1,049,455. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 39.70, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. AAON, Inc. has a 12 month low of $73.19 and a 12 month high of $150.46. The business has a fifty day simple moving average of $100.77 and a 200-day simple moving average of $104.71.

AAON (NASDAQ:AAON - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.18. AAON had a return on equity of 17.32% and a net margin of 8.24%.The business had revenue of $626.98 million during the quarter, compared to the consensus estimate of $508.82 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. AAON's revenue was up 101.2% compared to the same quarter last year. On average, research analysts expect that AAON, Inc. will post 2.3 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.10 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON's dividend payout ratio is currently 20.83%.

Institutional Trading of AAON

Hedge funds have recently added to or reduced their stakes in the stock. SummitTX Capital L.P. increased its stake in shares of AAON by 1.7% during the first quarter. SummitTX Capital L.P. now owns 4,622 shares of the construction company's stock valued at $382,000 after buying an additional 76 shares during the period. Toronto Dominion Bank boosted its holdings in AAON by 1.7% in the fourth quarter. Toronto Dominion Bank now owns 5,889 shares of the construction company's stock valued at $448,000 after acquiring an additional 99 shares in the last quarter. Huntington National Bank boosted its holdings in AAON by 21.1% in the fourth quarter. Huntington National Bank now owns 689 shares of the construction company's stock valued at $53,000 after acquiring an additional 120 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in AAON by 96.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after purchasing an additional 164 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in AAON by 20.8% in the 4th quarter. Hantz Financial Services Inc. now owns 1,052 shares of the construction company's stock worth $80,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 70.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. KeyCorp reaffirmed a "sector weight" rating on shares of AAON in a research report on Thursday, August 13th. Oppenheimer cut their target price on AAON from $145.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Robert W. Baird reduced their target price on AAON from $150.00 to $135.00 and set an "outperform" rating for the company in a report on Tuesday, August 11th. Zacks Research downgraded AAON from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of AAON in a report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.67.

About AAON

AAON, Inc NASDAQ: AAON is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company's product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON's core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source