EAM Investors LLC Sells 13,990 Shares of AAON, Inc. (NASDAQ:AAON)

EAM Investors LLC trimmed its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 33.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,482 shares of the construction company’s stock after selling 13,990 shares during the period. EAM Investors LLC’s holdings in AAON were worth $3,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in AAON by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company’s stock worth $734,262,000 after acquiring an additional 75,832 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock worth $351,615,000 after purchasing an additional 150,207 shares during the period. Invesco Ltd. grew its stake in shares of AAON by 15.6% in the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company’s stock worth $239,184,000 after purchasing an additional 274,119 shares during the last quarter. Geode Capital Management LLC increased its holdings in AAON by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company’s stock valued at $145,692,000 after purchasing an additional 3,644 shares during the period. Finally, Blair William & Co. IL raised its position in AAON by 4.2% during the 4th quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company’s stock valued at $137,660,000 after purchasing an additional 47,254 shares during the last quarter. 70.81% of the stock is owned by institutional investors.

AAON Price Performance

AAON stock opened at $80.44 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. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 35.44 and a beta of 0.96. The firm has a 50 day moving average price of $88.11 and a 200-day moving average price of $110.50. AAON, Inc. has a 52-week low of $68.98 and a 52-week high of $144.07.

AAON declared that its board has initiated a stock repurchase plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

AAON Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.50%. This is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 18th. AAON’s payout ratio is 19.90%.

Insider Transactions at AAON

In other news, Director David Raymond Stewart purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the acquisition, the director now directly owns 3,000 shares in the company, valued at $242,580. This represents a 50.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 18.55% of the company’s stock.

Analyst Upgrades and Downgrades

AAON has been the topic of several research analyst reports. Robert W. Baird reduced their target price on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. DA Davidson reduced their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Finally, CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AAON currently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

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.