AAON, Inc. $AAON Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its position in AAON, Inc. (NASDAQ:AAON) by 7.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 139,236 shares of the construction company’s stock after selling 10,442 shares during the period. Granite Investment Partners LLC owned 0.17% of AAON worth $11,522,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of AAON by 44.3% during the fourth quarter. Wellington Management Group LLP now owns 6,839,277 shares of the construction company’s stock worth $521,495,000 after acquiring an additional 2,099,385 shares during the last quarter. Wasatch Advisors LP boosted its stake in AAON by 23.8% during the 1st quarter. Wasatch Advisors LP now owns 2,268,118 shares of the construction company’s stock worth $187,687,000 after purchasing an additional 436,704 shares during the period. Conestoga Capital Advisors LLC grew its position in AAON by 5.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company’s stock worth $135,421,000 after purchasing an additional 84,693 shares during the last quarter. Capital International Investors grew its position in AAON by 50.9% during the 3rd quarter. Capital International Investors now owns 1,471,792 shares of the construction company’s stock worth $137,524,000 after purchasing an additional 496,581 shares during the last quarter. Finally, Impax Asset Management Group plc increased its stake in AAON by 53.2% in the fourth quarter. Impax Asset Management Group plc now owns 1,403,648 shares of the construction company’s stock valued at $107,028,000 after purchasing an additional 487,601 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AAON shares. Zacks Research upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Oppenheimer reaffirmed an “outperform” rating on shares of AAON in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $112.00.

AAON Trading Down 1.8%

NASDAQ:AAON opened at $107.98 on Thursday. The stock has a fifty day moving average price of $127.20 and a two-hundred day moving average price of $102.70. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 75.51, a PEG ratio of 3.08 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. AAON, Inc. has a 1 year low of $62.00 and a 1 year high of $150.46.

AAON (NASDAQ:AAON) last released its earnings results on Thursday, May 7th. The construction company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.17. The company had revenue of $496.94 million during the quarter, compared to the consensus estimate of $381.08 million. AAON had a return on equity of 13.67% and a net margin of 7.30%.AAON’s quarterly revenue was up 54.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. As a group, sell-side analysts anticipate that AAON, Inc. will post 2.23 earnings per share for the current fiscal year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, June 5th. AAON’s payout ratio is presently 27.97%.

Insider Activity at AAON

In other AAON news, EVP Gordon Douglas Wichman sold 3,000 shares of AAON stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.39, for a total transaction of $421,170.00. Following the completion of the transaction, the executive vice president owned 10,997 shares in the company, valued at approximately $1,543,868.83. The trade was a 21.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary D. Fields sold 19,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.20, for a total transaction of $2,663,800.00. Following the completion of the sale, the director directly owned 15,252 shares in the company, valued at $2,138,330.40. This trade represents a 55.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 150,473 shares of company stock valued at $19,516,213 in the last 90 days. 18.09% of the stock is owned by corporate insiders.

AAON Company Profile

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.