Gibraltar Capital Management Inc. Purchases New Shares in AAON, Inc. (NASDAQ:AAON)

Gibraltar Capital Management Inc. purchased a new stake in shares of AAON, Inc. (NASDAQ:AAON) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,061 shares of the construction company’s stock, valued at approximately $226,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of AAON by 57.2% in the third quarter. Vanguard Group Inc. now owns 7,489,640 shares of the construction company’s stock worth $425,936,000 after purchasing an additional 2,725,779 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in AAON by 46.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,385,306 shares of the construction company’s stock valued at $249,392,000 after acquiring an additional 1,380,751 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in AAON by 50.8% during the third quarter. Conestoga Capital Advisors LLC now owns 3,329,064 shares of the construction company’s stock valued at $189,324,000 after acquiring an additional 1,120,754 shares during the last quarter. Ameriprise Financial Inc. increased its position in AAON by 111.8% during the third quarter. Ameriprise Financial Inc. now owns 1,606,506 shares of the construction company’s stock valued at $91,361,000 after acquiring an additional 847,953 shares during the last quarter. Finally, Invesco Ltd. increased its position in AAON by 61.5% during the third quarter. Invesco Ltd. now owns 1,604,098 shares of the construction company’s stock valued at $91,225,000 after acquiring an additional 610,949 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, William Blair began coverage on AAON in a research report on Monday. They set an “outperform” rating for the company.

AAON Stock Performance

NASDAQ:AAON traded up $0.24 during mid-day trading on Tuesday, hitting $94.09. 945,254 shares of the company traded hands, compared to its average volume of 430,393. The stock’s fifty day moving average price is $85.66 and its 200-day moving average price is $73.66. AAON, Inc. has a one year low of $52.24 and a one year high of $96.34. The company has a quick ratio of 1.54, a current ratio of 3.23 and a debt-to-equity ratio of 0.05. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 44.17 and a beta of 0.91.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. AAON had a return on equity of 27.20% and a net margin of 15.20%. The business had revenue of $306.60 million during the quarter, compared to analyst estimates of $294.35 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. AAON’s revenue for the quarter was up 20.4% on a year-over-year basis. Research analysts anticipate that AAON, Inc. will post 2.29 earnings per share for the current fiscal year.

AAON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Friday, March 15th. AAON’s dividend payout ratio is currently 15.00%.

Insider Buying and Selling

In related news, Director Norman H. Asbjornson sold 19,136 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $81.30, for a total transaction of $1,555,756.80. Following the completion of the sale, the director now owns 14,874 shares in the company, valued at $1,209,256.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Norman H. Asbjornson sold 19,136 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $81.30, for a total transaction of $1,555,756.80. Following the completion of the sale, the director now owns 14,874 shares in the company, valued at $1,209,256.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Norman H. Asbjornson sold 805 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $80.01, for a total value of $64,408.05. Following the transaction, the director now owns 53,093 shares of the company’s stock, valued at approximately $4,247,970.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,596 shares of company stock worth $3,613,768. 18.55% of the stock is owned by corporate insiders.

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.