Nisa Investment Advisors LLC Continues to Hold Position in AAR Corp. (AIR)
Nisa Investment Advisors LLC continued to hold its stake in AAR Corp. (NYSE:AIR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,120 shares of the aerospace company’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in AAR Corp. were worth $178,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in AIR. Norges Bank purchased a new stake in AAR Corp. during the fourth quarter worth about $6,654,000. Teachers Advisors LLC boosted its stake in AAR Corp. by 79.3% in the fourth quarter. Teachers Advisors LLC now owns 122,104 shares of the aerospace company’s stock worth $4,036,000 after buying an additional 54,011 shares in the last quarter. Bank of Montreal Can boosted its stake in AAR Corp. by 10.1% in the first quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock worth $114,000 after buying an additional 309 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in AAR Corp. by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 13,000 shares of the aerospace company’s stock worth $437,000 after buying an additional 200 shares in the last quarter. Finally, Columbus Circle Investors boosted its stake in AAR Corp. by 58.6% in the first quarter. Columbus Circle Investors now owns 393,385 shares of the aerospace company’s stock worth $13,230,000 after buying an additional 145,348 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.
Shares of AAR Corp. (AIR) traded up 0.73% during mid-day trading on Wednesday, reaching $36.11. The company’s stock had a trading volume of 26,918 shares. AAR Corp. has a 52-week low of $23.34 and a 52-week high of $38.75. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 22.10 and a beta of 1.38. The firm has a 50 day moving average price of $36.17 and a 200 day moving average price of $34.73.
AAR Corp. (NYSE:AIR) last released its quarterly earnings results on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $492.30 million during the quarter, compared to analysts’ expectations of $486.93 million. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.32 EPS. On average, equities analysts predict that AAR Corp. will post $1.78 EPS for the current fiscal year.
AAR Corp. declared that its board has approved a share buyback program on Tuesday, July 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 20.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Friday, July 21st were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, July 19th. This represents a $0.30 annualized dividend and a yield of 0.84%. AAR Corp.’s payout ratio is currently 18.18%.
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A number of analysts have recently issued reports on AIR shares. Zacks Investment Research upgraded AAR Corp. from a “sell” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Tuesday, May 23rd. BidaskClub cut AAR Corp. from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Noble Financial restated a “buy” rating on shares of AAR Corp. in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $46.80.
In other AAR Corp. news, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $37.28, for a total transaction of $1,610,496.00. Following the transaction, the insider now owns 317,665 shares in the company, valued at approximately $11,842,551.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronald B. Woodard sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $37.22, for a total value of $744,400.00. Following the transaction, the director now owns 20,073 shares in the company, valued at approximately $747,117.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,840 shares of company stock valued at $3,401,115. 8.23% of the stock is currently owned by insiders.
About AAR Corp.
AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
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