Wesbanco Bank Inc. Trims Stock Position in AAON, Inc. (NASDAQ:AAON)

Wesbanco Bank Inc. cut its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 16.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,500 shares of the construction company’s stock after selling 5,339 shares during the quarter. Wesbanco Bank Inc.’s holdings in AAON were worth $3,236,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AAON. Blue Trust Inc. lifted its position in AAON by 202.0% during the third quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock worth $32,000 after buying an additional 198 shares during the period. Westside Investment Management Inc. purchased a new position in AAON during the third quarter worth about $36,000. ORG Wealth Partners LLC purchased a new position in AAON during the third quarter worth about $37,000. UMB Bank n.a. lifted its position in AAON by 67.5% during the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after buying an additional 131 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in AAON during the third quarter worth about $43,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other AAON news, VP Stephen E. Wakefield sold 5,362 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $130.99, for a total transaction of $702,368.38. Following the completion of the sale, the vice president now owns 4,558 shares in the company, valued at $597,052.42. This trade represents a 54.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rebecca Thompson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $138.00, for a total value of $690,000.00. Following the sale, the chief financial officer now owns 17,297 shares of the company’s stock, valued at approximately $2,386,986. This trade represents a 22.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,329 shares of company stock worth $7,663,726. 18.55% of the stock is currently owned by corporate insiders.

AAON Price Performance

AAON stock opened at $136.95 on Thursday. 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, Inc. has a 1 year low of $69.54 and a 1 year high of $144.07. The firm has a market cap of $11.13 billion, a P/E ratio of 60.33 and a beta of 0.87. The stock has a 50-day simple moving average of $128.74 and a 200-day simple moving average of $109.85.

AAON (NASDAQ:AAON) last posted its earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, beating 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 business had revenue of $327.25 million during the quarter, compared to analyst estimates of $315.80 million. During the same quarter last year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts predict that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 29th were paid a $0.08 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. AAON’s dividend payout ratio (DPR) is currently 14.10%.

Analyst Ratings Changes

A number of research firms have recently commented on AAON. DA Davidson raised their price objective on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Robert W. Baird raised their price objective on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Sidoti downgraded AAON from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $102.00 to $111.00 in a report on Tuesday, October 22nd. Finally, Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

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.