Polen Capital Management LLC Purchases 17,909 Shares of AAON, Inc. (NASDAQ:AAON)

Polen Capital Management LLC boosted its stake in shares of AAON, Inc. (NASDAQ:AAON) by 56.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,466 shares of the construction company’s stock after purchasing an additional 17,909 shares during the quarter. Polen Capital Management LLC owned about 0.06% of AAON worth $3,865,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Cynosure Group LLC boosted its position in AAON by 334.7% during the first quarter. Cynosure Group LLC now owns 22,707 shares of the construction company’s stock worth $1,774,000 after purchasing an additional 17,483 shares during the period. AlphaCore Capital LLC boosted its position in AAON by 83.1% during the first quarter. AlphaCore Capital LLC now owns 4,461 shares of the construction company’s stock worth $349,000 after purchasing an additional 2,024 shares during the period. Jackson Square Partners LLC bought a new stake in AAON during the first quarter worth approximately $20,962,000. CenterBook Partners LP bought a new stake in AAON during the first quarter worth approximately $6,454,000. Finally, Headlands Technologies LLC bought a new stake in shares of AAON in the first quarter valued at approximately $250,000. Institutional investors own 70.81% of the company’s stock.

Insider Transactions at AAON

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the transaction, the director owned 8,754 shares in the company, valued at approximately $914,617.92. This trade represents a 70.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.70% of the company’s stock.

AAON Price Performance

Shares of AAON stock opened at $80.52 on Friday. The stock has a 50-day moving average price of $78.96 and a 200 day moving average price of $88.79. The company has a quick ratio of 1.80, a current ratio of 2.77 and a debt-to-equity ratio of 0.29. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of 42.38 and a beta of 0.94. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. AAON’s dividend payout ratio (DPR) is 21.05%.

Analyst Upgrades and Downgrades

AAON has been the subject of several research reports. Sidoti raised AAON from a “neutral” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Monday, June 16th. Wall Street Zen raised AAON from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $111.50.

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.