AAON, Inc. $AAON Stock Position Boosted by L2 Asset Management LLC

L2 Asset Management LLC boosted its stake in AAON, Inc. (NASDAQ:AAON) by 70.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,617 shares of the construction company’s stock after buying an additional 4,373 shares during the period. L2 Asset Management LLC’s holdings in AAON were worth $810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Moore Capital Management LP bought a new position in AAON in the 3rd quarter valued at about $13,959,000. Comerica Bank boosted its position in shares of AAON by 23.7% during the 4th quarter. Comerica Bank now owns 238,462 shares of the construction company’s stock valued at $18,183,000 after purchasing an additional 45,660 shares in the last quarter. First Trust Advisors LP boosted its position in shares of AAON by 136.4% during the 3rd quarter. First Trust Advisors LP now owns 1,933,595 shares of the construction company’s stock valued at $180,675,000 after purchasing an additional 1,115,566 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of AAON by 96.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company’s stock valued at $216,811,000 after purchasing an additional 1,138,658 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of AAON by 50.9% during the 3rd quarter. Capital International Investors now owns 1,471,792 shares of the construction company’s stock valued at $137,524,000 after purchasing an additional 496,581 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

AAON Price Performance

AAON stock opened at $130.66 on Wednesday. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 0.46. AAON, Inc. has a one year low of $62.00 and a one year high of $150.46. The firm has a market capitalization of $10.70 billion, a PE ratio of 91.37, a P/E/G ratio of 3.67 and a beta of 1.39. The firm has a 50-day moving average of $117.28 and a two-hundred day moving average of $98.26.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.17. AAON had a net margin of 7.30% and a return on equity of 13.67%. The company had revenue of $496.94 million during the quarter, compared to analyst estimates of $381.08 million. During the same period in the prior year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was up 54.3% on a year-over-year basis. On average, analysts forecast that AAON, Inc. will post 2.23 earnings per share for the current year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. AAON’s dividend payout ratio is currently 27.97%.

Insider Activity at AAON

In other AAON news, 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 of the company’s stock, valued at approximately $2,138,330.40. This represents a 55.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Rebecca Thompson sold 4,230 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total transaction of $606,666.60. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 150,473 shares of company stock valued at $19,516,213. Corporate insiders own 18.09% of the company’s stock.

Analyst Upgrades and Downgrades

AAON has been the subject of several research reports. Oppenheimer restated an “outperform” rating on shares of AAON in a research report on Friday, May 8th. William Blair restated an “outperform” rating on shares of AAON in a research report on Monday, March 2nd. Finally, Zacks Research upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, AAON has a consensus rating of “Buy” and a consensus price target of $112.00.

AAON 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.