AAON (NASDAQ:AAON) Sees Large Volume Increase

AAON, Inc. (NASDAQ:AAON) saw unusually-high trading volume on Monday . Approximately 542,110 shares traded hands during 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.

Wall Street Analyst Weigh In

Separately, William Blair initiated 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 business’s 50-day simple moving average is $86.21 and its two-hundred day simple moving average is $74.60. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 36.52 and a beta of 0.88.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $284.76 million. During the same period in the previous year, the company posted $0.45 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts expect that AAON, Inc. will post 2.27 earnings per share for the current year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 dividend payout ratio (DPR) is 14.91%.

Insider Activity at AAON

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

Institutional Investors Weigh In On AAON

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

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.