AAON, Inc. (NASDAQ:AAON) Announces Dividend Increase – $0.24 Per Share

AAON, Inc. (NASDAQ:AAONGet Rating) announced a Semi-Annual dividend on Tuesday, November 8th, Zacks reports. Shareholders of record on Monday, November 28th will be given a dividend of 0.24 per share by the construction company on Friday, December 16th. This represents a yield of 0.6%. The ex-dividend date of this dividend is Friday, November 25th. This is a boost from AAON’s previous Semi-Annual dividend of $0.19.

AAON has increased its dividend payment by an average of 5.9% annually over the last three years and has increased its dividend every year for the last 1 years. AAON has a dividend payout ratio of 19.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect AAON to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 18.8%.

AAON Price Performance

NASDAQ AAON opened at $78.65 on Thursday. The company has a quick ratio of 1.12, a current ratio of 2.36 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $4.18 billion, a PE ratio of 62.92 and a beta of 0.76. The company has a 50 day moving average price of $62.72 and a two-hundred day moving average price of $58.28. AAON has a 12-month low of $47.50 and a 12-month high of $83.79.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research report on Saturday, November 19th. CJS Securities assumed coverage on shares of AAON in a research report on Thursday, September 15th. They issued an “outperform” rating and a $73.00 price target on the stock. TheStreet raised shares of AAON from a “c+” rating to a “b” rating in a research report on Wednesday, November 9th. Finally, DA Davidson lifted their price target on shares of AAON to $75.00 in a research report on Tuesday, November 15th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.33.

Insider Buying and Selling

In related news, VP Rony D. Gadiwalla sold 5,000 shares of the business’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $55.12, for a total transaction of $275,600.00. Following the transaction, the vice president now owns 20,726 shares of the company’s stock, valued at $1,142,417.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AAON news, CFO Rebecca Thompson sold 15,500 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $80.05, for a total value of $1,240,775.00. Following the sale, the chief financial officer now owns 9,877 shares of the company’s stock, valued at approximately $790,653.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Rony D. Gadiwalla sold 5,000 shares of the business’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $55.12, for a total transaction of $275,600.00. Following the completion of the sale, the vice president now directly owns 20,726 shares in the company, valued at approximately $1,142,417.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,395 shares of company stock valued at $3,580,715. 19.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On AAON

Several institutional investors and hedge funds have recently bought and sold shares of AAON. Group One Trading L.P. bought a new stake in AAON in the 1st quarter valued at $39,000. Lazard Asset Management LLC acquired a new stake in shares of AAON in the 1st quarter valued at $53,000. FMR LLC boosted its stake in shares of AAON by 17.8% in the 2nd quarter. FMR LLC now owns 2,060 shares of the construction company’s stock valued at $112,000 after purchasing an additional 311 shares in the last quarter. UBS Group AG boosted its stake in shares of AAON by 53.2% in the 3rd quarter. UBS Group AG now owns 2,533 shares of the construction company’s stock valued at $136,000 after purchasing an additional 880 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of AAON by 46.3% in the 1st quarter. Captrust Financial Advisors now owns 3,009 shares of the construction company’s stock valued at $168,000 after purchasing an additional 952 shares in the last quarter. Institutional investors own 70.61% of the company’s stock.

AAON Company Profile

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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.

Further Reading

Dividend History for AAON (NASDAQ:AAON)

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