Kayne Anderson Rudnick Investment Management LLC Has $281.91 Million Position in AAON, Inc. (NASDAQ:AAON)

Kayne Anderson Rudnick Investment Management LLC trimmed its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,395,559 shares of the construction company's stock after selling 1,097,698 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 2.95% of AAON worth $281,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. raised its stake in shares of AAON by 521.6% during the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company's stock worth $27,000 after purchasing an additional 193 shares in the last quarter. Twin Tree Management LP acquired a new stake in AAON in the fourth quarter valued at approximately $33,000. UMB Bank n.a. grew its position in AAON by 67.5% in the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company's stock worth $38,000 after acquiring an additional 131 shares in the last quarter. Westside Investment Management Inc. bought a new stake in AAON in the third quarter worth approximately $36,000. Finally, Empowered Funds LLC acquired a new position in shares of AAON during the 4th quarter worth $42,000. Institutional investors and hedge funds own 70.81% of the company's stock.

AAON Stock Performance

NASDAQ AAON traded up $2.59 during trading on Friday, hitting $88.43. The company's stock had a trading volume of 468,044 shares, compared to its average volume of 729,813. AAON, Inc. has a 52 week low of $68.98 and a 52 week high of $144.07. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The firm has a market cap of $7.22 billion, a P/E ratio of 38.97 and a beta of 0.96. The firm has a 50 day moving average price of $83.78 and a 200 day moving average price of $109.23.

AAON Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.45%. This is a positive change from AAON's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 18th. AAON's dividend payout ratio (DPR) is currently 19.90%.

AAON announced that its board has initiated a share repurchase plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Insider Transactions at AAON

In other news, Director David Raymond Stewart bought 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $80.86 per share, with a total value of $80,860.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $242,580. This represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 18.55% of the company's stock.

AAON Company 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.