Securian Asset Management Inc. Sells 128 Shares of AAON, Inc. (NASDAQ:AAON)

Securian Asset Management Inc. decreased its stake in AAON, Inc. (NASDAQ:AAON) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,100 shares of the construction company’s stock after selling 128 shares during the period. Securian Asset Management Inc.’s holdings in AAON were worth $600,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in AAON. Blue Trust Inc. raised its position in shares of AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after purchasing an additional 84 shares during the period. Captrust Financial Advisors raised its position in shares of AAON by 1.0% in the third quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock valued at $949,000 after purchasing an additional 89 shares during the period. Louisiana State Employees Retirement System raised its position in shares of AAON by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock valued at $2,201,000 after purchasing an additional 100 shares during the period. Conway Capital Management Inc. raised its position in shares of AAON by 4.0% in the fourth quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company’s stock valued at $306,000 after purchasing an additional 101 shares during the period. Finally, Ascent Wealth Partners LLC raised its position in shares of AAON by 0.4% in the fourth quarter. Ascent Wealth Partners LLC now owns 29,881 shares of the construction company’s stock valued at $3,516,000 after purchasing an additional 113 shares during the period. Institutional investors own 70.81% of the company’s stock.

AAON Price Performance

Shares of NASDAQ:AAON opened at $82.14 on Monday. The company’s fifty day moving average price is $108.51 and its 200-day moving average price is $113.52. The firm has a market capitalization of $6.70 billion, a price-to-earnings 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 current ratio of 3.06 and a quick ratio of 1.79.

AAON declared that its Board of Directors has approved a share buyback program on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

AAON Increases Dividend

The business also recently declared 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 is a positive change from AAON’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. AAON’s dividend payout ratio is presently 19.90%.

Insider Transactions at AAON

In related news, Director David Raymond Stewart purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, with a total value of $80,860.00. Following the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $242,580. This represents a 50.00 % increase in their ownership of the stock. The purchase 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.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AAON. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Friday, February 28th. Robert W. Baird reduced their price objective on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company 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 for the company in a research note on Friday, February 28th. Finally, StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

AAON 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.