Balyasny Asset Management L.P. Invests $11.29 Million in AAON, Inc. (NASDAQ:AAON)

Balyasny Asset Management L.P. acquired a new stake in AAON, Inc. (NASDAQ:AAON) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 95,974 shares of the construction company’s stock, valued at approximately $11,294,000. Balyasny Asset Management L.P. owned 0.12% of AAON as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of AAON during the 4th quarter valued at approximately $76,581,000. Raymond James Financial Inc. purchased a new stake in shares of AAON during the fourth quarter worth $73,313,000. First Trust Advisors LP lifted its position in shares of AAON by 85.6% during the fourth quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company’s stock worth $125,813,000 after acquiring an additional 493,219 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of AAON in the fourth quarter valued at $42,449,000. Finally, Invesco Ltd. grew its position 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 valued at $239,184,000 after purchasing an additional 274,119 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Up 3.9 %

Shares of NASDAQ AAON opened at $99.43 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $83.17 and a 200-day moving average of $108.13. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 43.80 and a beta of 1.06. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.13. The business had revenue of $322.05 million during the quarter, compared to analysts’ expectations of $289.16 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. Sell-side analysts expect that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON announced that its board has authorized a share repurchase plan on Tuesday, March 4th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

AAON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.40%. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is 21.05%.

Insider Transactions at AAON

In other news, CEO Gary D. Fields sold 8,357 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $98.66, for a total transaction of $824,501.62. Following the transaction, the chief executive officer now directly owns 26,491 shares of the company’s stock, valued at approximately $2,613,602.06. This trade represents a 23.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Raymond Stewart bought 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now owns 3,000 shares in the company, valued at $242,580. The trade was a 50.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

AAON has been the subject of several analyst reports. StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. CJS Securities upgraded 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 report on Friday, February 28th. DA Davidson decreased their target price on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Robert W. Baird lowered their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.