Impax Asset Management Group plc Cuts Stock Position in AAON, Inc. (NASDAQ:AAON)

Impax Asset Management Group plc trimmed its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 38.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,000 shares of the construction company’s stock after selling 35,000 shares during the period. Impax Asset Management Group plc owned approximately 0.07% of AAON worth $5,931,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AAON. SG Americas Securities LLC purchased a new stake in AAON during the 1st quarter valued at $212,000. Sei Investments Co. boosted its stake in AAON by 2.1% during the 1st quarter. Sei Investments Co. now owns 146,519 shares of the construction company’s stock valued at $12,908,000 after purchasing an additional 2,985 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in AAON by 3.1% during the 1st quarter. Russell Investments Group Ltd. now owns 35,819 shares of the construction company’s stock valued at $3,156,000 after purchasing an additional 1,090 shares during the last quarter. ProShare Advisors LLC boosted its stake in AAON by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 13,656 shares of the construction company’s stock valued at $1,203,000 after purchasing an additional 940 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in AAON during the 1st quarter valued at $423,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

AAON Price Performance

Shares of AAON stock opened at $133.46 on Friday. AAON, Inc. has a one year low of $61.09 and a one year high of $144.07. The stock’s fifty day moving average is $110.69 and its 200 day moving average is $93.12. The stock has a market cap of $10.85 billion, a P/E ratio of 58.79 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. AAON had a return on equity of 24.98% and a net margin of 15.78%. The company had revenue of $327.25 million for the quarter, compared to analysts’ expectations of $315.80 million. During the same period last year, the firm earned $0.64 EPS. AAON’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. AAON’s dividend payout ratio is presently 14.10%.

Analysts Set New Price Targets

AAON has been the topic of several recent analyst reports. DA Davidson increased their target price on AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Sidoti cut AAON from a “buy” rating to a “neutral” rating and increased their price target for the company from $102.00 to $111.00 in a report on Tuesday, October 22nd. Robert W. Baird increased their price target on AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a report on Friday, November 8th. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Finally, Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

Insider Buying and Selling at AAON

In other AAON news, VP Casey Kidwell sold 4,796 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total transaction of $654,078.48. Following the sale, the vice president now directly owns 4,953 shares of the company’s stock, valued at $675,490.14. This trade represents a 49.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.55% of the company’s stock.

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.