AAON, Inc. (NASDAQ:AAON) Director Acquires $80,860.00 in Stock

AAON, Inc. (NASDAQ:AAON) Director David Raymond Stewart purchased 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $242,580. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

AAON Stock Performance

Shares of AAON stock opened at $82.14 on Friday. The business has a 50-day simple moving average of $109.26 and a 200-day simple moving average of $113.32. The company has a market cap of $6.70 billion, a PE ratio of 36.19 and a beta of 1.00. AAON, Inc. has a one year low of $69.52 and a one year high of $144.07. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from AAON’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is presently 19.90%.

AAON declared that its board has approved 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 buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of AAON

A number of institutional investors have recently bought and sold shares of AAON. Mather Group LLC. increased its holdings in shares of AAON by 521.6% in the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after acquiring an additional 193 shares during the last quarter. Twin Tree Management LP acquired a new stake in AAON during the fourth quarter worth approximately $33,000. Westside Investment Management Inc. purchased a new stake in shares of AAON during the 3rd quarter worth approximately $36,000. Quarry LP grew its position in shares of AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company’s stock valued at $37,000 after buying an additional 103 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in AAON by 67.5% during the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after acquiring an additional 131 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

About AAON

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.