AAON (NASDAQ:AAON) Sees Large Volume Increase

Shares of AAON, Inc. (NASDAQ:AAON - Get Free Report) saw strong trading volume on Monday . 542,110 shares traded hands during mid-day trading, an increase of 19% from the previous session's volume of 457,063 shares.The stock last traded at $78.59 and had previously closed at $78.40.

Analysts Set New Price Targets

Separately, William Blair assumed coverage on AAON in a report on Monday, April 29th. They issued an "outperform" rating on the stock.

AAON Stock Performance

The firm has a 50 day simple moving average of $86.03 and a two-hundred day simple moving average of $74.76. The stock has a market cap of $6.26 billion, a P/E ratio of 35.44 and a beta of 0.88.

AAON (NASDAQ:AAON - Get Free Report) last announced its earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). The business had revenue of $262.10 million for the quarter, compared to the consensus estimate of $284.76 million. AAON had a net margin of 15.44% and a return on equity of 25.84%. The firm's revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. As a group, equities research analysts predict that AAON, Inc. will post 2.27 EPS for the current year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, March 15th. AAON's payout ratio is currently 14.88%.

Insider Buying and Selling at AAON

In other news, Director Norman H. Asbjornson sold 805 shares of AAON stock in a transaction on Monday, March 11th. The stock was sold at an average price of $80.01, for a total transaction of $64,408.05. Following the transaction, the director now directly owns 53,093 shares in the company, valued at approximately $4,247,970.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Norman H. Asbjornson sold 805 shares of AAON stock in a transaction on Monday, March 11th. The stock was sold at an average price of $80.01, for a total transaction of $64,408.05. Following the transaction, the director now directly owns 53,093 shares in the company, valued at approximately $4,247,970.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Norman H. Asbjornson sold 19,136 shares of AAON stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $81.30, for a total value of $1,555,756.80. Following the transaction, the director now owns 14,874 shares in the company, valued at $1,209,256.20. The disclosure for this sale can be found here. Insiders have sold 44,596 shares of company stock valued at $3,613,768 in the last quarter. Corporate insiders own 18.55% of the company's stock.

Hedge Funds Weigh In On AAON

Hedge funds have recently modified their holdings of the stock. TFO Wealth Partners LLC acquired a new position in shares of AAON in the 4th quarter worth $27,000. GAMMA Investing LLC acquired a new position in shares of AAON in the 4th quarter worth $36,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of AAON in the 4th quarter worth $39,000. Operose Advisors LLC acquired a new position in shares of AAON in the 3rd quarter worth $31,000. Finally, CI Investments Inc. grew its holdings in shares of AAON by 50.9% in the 3rd quarter. CI Investments Inc. now owns 617 shares of the construction company's stock worth $35,000 after acquiring an additional 208 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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.