Ontario Teachers Pension Plan Board Purchases 18,056 Shares of AAON, Inc. (NASDAQ:AAON)

Ontario Teachers Pension Plan Board lifted its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 679.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,713 shares of the construction company's stock after buying an additional 18,056 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in AAON were worth $2,438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mather Group LLC. raised its position in shares of AAON by 521.6% during the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company's stock valued at $27,000 after acquiring an additional 193 shares during the last quarter. Twin Tree Management LP bought a new stake in AAON in the fourth quarter valued at about $33,000. Westside Investment Management Inc. acquired a new position in AAON in the third quarter valued at about $36,000. UMB Bank n.a. boosted its holdings in AAON by 67.5% during the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company's stock worth $38,000 after buying an additional 131 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of AAON by 28.4% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock worth $41,000 after buying an additional 84 shares during the period. 70.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AAON. Robert W. Baird cut their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. StockNews.com lowered shares of AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. DA Davidson decreased their price target 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. Finally, CJS Securities raised AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AAON presently has an average rating of "Moderate Buy" and a consensus price target of $115.50.

AAON Stock Up 2.5 %

Shares of AAON stock traded up $2.02 on Friday, hitting $82.46. The company had a trading volume of 510,664 shares, compared to its average volume of 726,068. AAON, Inc. has a twelve month low of $68.98 and a twelve month high of $144.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The stock has a 50-day moving average of $86.24 and a 200-day moving average of $109.97. The firm has a market capitalization of $6.73 billion, a P/E ratio of 36.33 and a beta of 0.96.

AAON Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio is 19.90%.

AAON declared that its board has approved a share buyback program on Tuesday, March 4th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at AAON

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price 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 trade represents a 50.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 18.55% 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.