AAON (NASDAQ:AAON) Sees Large Volume Increase

Shares of AAON, Inc. (NASDAQ:AAON) saw strong trading volume on Monday . 542,110 shares traded hands 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 assumed coverage on AAON in a research report on Monday, April 29th. They set an “outperform” rating for the company.

AAON Stock Down 2.8 %

The stock’s 50-day simple moving average is $86.21 and its 200 day simple moving average is $74.60. The firm has a market cap of $6.26 billion, a P/E ratio of 36.52 and a beta of 0.88.

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

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors 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 dividend yield of 0.42%. AAON’s payout ratio is presently 14.91%.

Insider Buying and Selling at AAON

In other news, VP Stephen E. Wakefield sold 24,655 shares of the 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 transaction, the vice president now owns 15,992 shares of the company’s stock, valued at approximately $1,293,113.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Stephen E. Wakefield sold 24,655 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $80.86, for a total value of $1,993,603.30. Following the transaction, the vice president now directly owns 15,992 shares in the company, valued at approximately $1,293,113.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Norman H. Asbjornson sold 19,136 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $81.30, for a total transaction of $1,555,756.80. Following the transaction, the director now owns 14,874 shares in the company, valued at approximately $1,209,256.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,596 shares of company stock valued at $3,613,768. Corporate insiders own 18.55% of the company’s stock.

Institutional Investors Weigh In On AAON

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in AAON by 57.2% during 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 period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in AAON by 46.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,385,306 shares of the construction company’s stock worth $249,392,000 after buying an additional 1,380,751 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in AAON by 0.8% in the fourth quarter. Conestoga Capital Advisors LLC now owns 3,354,242 shares of the construction company’s stock worth $247,778,000 after acquiring an additional 25,178 shares during the period. Geneva Capital Management LLC increased its stake in shares of AAON by 0.8% during the 4th quarter. Geneva Capital Management LLC now owns 1,702,641 shares of the construction company’s stock worth $125,774,000 after purchasing an additional 13,864 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of AAON by 111.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,606,506 shares of the construction company’s stock worth $91,361,000 after purchasing an additional 847,953 shares during the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Company Profile

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.