Madison Asset Management LLC Has $2.52 Million Stock Holdings in AAON, Inc. $AAON

Madison Asset Management LLC lifted its stake in shares of AAON, Inc. (NASDAQ:AAON) by 42.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,442 shares of the construction company’s stock after acquiring an additional 9,079 shares during the quarter. Madison Asset Management LLC’s holdings in AAON were worth $2,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI bought a new stake in AAON in the first quarter valued at approximately $166,000. KBC Group NV raised its holdings in AAON by 23.5% during the 1st quarter. KBC Group NV now owns 2,323 shares of the construction company’s stock worth $192,000 after purchasing an additional 442 shares during the last quarter. Swiss National Bank raised its holdings in AAON by 0.3% during the 1st quarter. Swiss National Bank now owns 137,125 shares of the construction company’s stock worth $11,347,000 after purchasing an additional 400 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of AAON by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 16,300 shares of the construction company’s stock worth $1,349,000 after purchasing an additional 300 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of AAON by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 152,249 shares of the construction company’s stock worth $12,599,000 after purchasing an additional 7,254 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

AAON Trading Up 1.7%

NASDAQ AAON opened at $105.61 on Wednesday. The stock has a market capitalization of $8.65 billion, a P/E ratio of 73.85, a P/E/G ratio of 2.91 and a beta of 1.41. The business has a 50 day simple moving average of $127.06 and a 200 day simple moving average of $104.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.62 and a quick ratio of 1.75. AAON, Inc. has a one year low of $62.00 and a one year high of $150.46.

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

AAON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, June 5th. AAON’s payout ratio is presently 27.97%.

Analyst Ratings Changes

AAON has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. Oppenheimer reissued an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Finally, Zacks Research lowered shares of AAON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.

Insider Activity at AAON

In other AAON news, Director Gary D. Fields sold 31,271 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total value of $4,192,502.97. Following the completion of the sale, the director directly owned 34,252 shares in the company, valued at approximately $4,592,165.64. This trade represents a 47.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca Thompson sold 21,914 shares of AAON stock in a transaction on Friday, April 24th. The shares were sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the completion of the sale, the chief accounting officer directly owned 27,681 shares of the company’s stock, valued at approximately $2,773,913.01. This trade represents a 44.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 148,186 shares of company stock worth $19,287,262 over the last quarter. 18.09% of the stock is currently owned by insiders.

About AAON

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.