AAON (NASDAQ:AAON) Stock Price Down 6% – Here’s Why

AAON, Inc. (NASDAQ:AAON)’s stock price traded down 6% on Monday . The stock traded as low as $105.25 and last traded at $104.7620. 139,343 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,010,685 shares. The stock had previously closed at $111.42.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AAON shares. Weiss Ratings reiterated a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. Oppenheimer restated an “outperform” rating on shares of AAON in a research report on Friday, May 8th. Finally, Zacks Research cut AAON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.

AAON Stock Up 1.7%

The company has a market cap of $8.65 billion, a PE ratio of 73.85, a P/E/G ratio of 2.91 and a beta of 1.41. The firm has a 50-day simple moving average of $127.06 and a two-hundred 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 (NASDAQ:AAON) last issued its quarterly earnings data 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 business had revenue of $496.94 million for the quarter, compared to the consensus estimate of $381.08 million. AAON had a return on equity of 13.67% and a net margin of 7.30%.The business’s revenue was up 54.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. Research analysts anticipate that AAON, Inc. will post 2.23 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, June 5th. AAON’s dividend payout ratio (DPR) is currently 27.97%.

Insider Activity

In related news, CEO Matthew Joseph Tobolski sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total transaction of $1,082,960.00. Following the transaction, the chief executive officer owned 114,371 shares of the company’s stock, valued at approximately $15,482,402.27. This represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rebecca Thompson sold 21,914 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the sale, the chief accounting officer owned 27,681 shares in the company, valued at approximately $2,773,913.01. This trade represents a 44.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 148,186 shares of company stock worth $19,287,262. Corporate insiders own 18.09% of the company’s stock.

Institutional Investors Weigh In On AAON

Several hedge funds have recently made changes to their positions in the business. Millennium Management LLC lifted its position in AAON by 429.3% during the first quarter. Millennium Management LLC now owns 81,145 shares of the construction company’s stock worth $6,340,000 after buying an additional 65,813 shares during the period. NewEdge Advisors LLC grew its holdings in AAON by 1.8% in the 1st quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company’s stock valued at $1,271,000 after buying an additional 294 shares during the period. Goldman Sachs Group Inc. grew its holdings in AAON by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company’s stock valued at $33,669,000 after buying an additional 73,644 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of AAON by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company’s stock valued at $18,204,000 after acquiring an additional 12,489 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of AAON by 96.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after acquiring an additional 164 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

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.