AAON (NASDAQ:AAON) Sees Large Volume Increase

AAON, Inc. (NASDAQ:AAON) shares saw unusually-strong trading volume on Monday . Approximately 542,110 shares were traded 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 started coverage on shares of AAON in a report on Monday, April 29th. They issued an “outperform” rating on the stock.

AAON Stock Down 1.9 %

The business’s fifty day simple moving average is $85.89 and its two-hundred day simple moving average is $74.94. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 35.75 and a beta of 0.88.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). AAON had a return on equity of 25.84% and a net margin of 15.44%. The company had revenue of $262.10 million for the quarter, compared to analyst estimates of $284.76 million. During the same period in the previous year, the business posted $0.45 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts predict that AAON, Inc. will post 2.27 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a dividend of $0.08 per share. The ex-dividend date was Friday, March 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. AAON’s payout ratio is currently 14.91%.

Insider Buying and Selling at AAON

In related news, Director Norman H. Asbjornson sold 805 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $80.01, for a total value of $64,408.05. Following the sale, the director now owns 53,093 shares in the company, valued at approximately $4,247,970.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AAON news, VP Stephen E. Wakefield sold 24,655 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $80.86, for a total transaction of $1,993,603.30. Following the completion of the transaction, the vice president now directly owns 15,992 shares in the company, valued at approximately $1,293,113.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Norman H. Asbjornson sold 805 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $80.01, for a total transaction of $64,408.05. Following the transaction, the director now owns 53,093 shares of the company’s stock, valued at $4,247,970.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,596 shares of company stock valued at $3,613,768. 18.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AAON

Several hedge funds have recently modified their holdings of AAON. Vanguard Group Inc. boosted its position in shares of AAON by 57.2% in the third quarter. Vanguard Group Inc. now owns 7,489,640 shares of the construction company’s stock worth $425,936,000 after acquiring an additional 2,725,779 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in AAON during the fourth quarter valued at approximately $22,784,000. Conestoga Capital Advisors LLC lifted its position in AAON by 0.8% during the fourth quarter. Conestoga Capital Advisors LLC now owns 3,354,242 shares of the construction company’s stock valued at $247,778,000 after buying an additional 25,178 shares in the last quarter. Lazard Asset Management LLC lifted its position in AAON by 75.7% during the third quarter. Lazard Asset Management LLC now owns 33,189 shares of the construction company’s stock valued at $1,887,000 after buying an additional 14,303 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in AAON by 49.9% during the third quarter. Public Employees Retirement System of Ohio now owns 89,210 shares of the construction company’s stock valued at $5,073,000 after buying an additional 29,704 shares in the last quarter. 70.81% of the stock is 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.