Tidal Investments LLC Has $16.48 Million Position in AAON, Inc. (NASDAQ:AAON)

Tidal Investments LLC raised its stake in shares of AAON, Inc. (NASDAQ:AAON) by 934.8% in the fourth quarter, Holdings Channel reports. The fund owned 140,054 shares of the construction company’s stock after acquiring an additional 126,520 shares during the period. Tidal Investments LLC’s holdings in AAON were worth $16,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. lifted its holdings in shares of AAON by 521.6% during the fourth 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 period. Twin Tree Management LP bought a new position in shares of AAON in the fourth quarter valued at about $33,000. Quarry LP raised its holdings in shares of AAON by 49.0% in the fourth 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. UMB Bank n.a. raised its holdings in shares of AAON by 67.5% in the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock valued at $38,000 after buying an additional 131 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings 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 buying an additional 84 shares during the last quarter. 70.81% of the stock is owned by institutional investors.

AAON Stock Performance

Shares of AAON stock opened at $106.87 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The stock has a market cap of $8.70 billion, a PE ratio of 47.08 and a beta of 1.06. The stock has a 50-day moving average of $86.05 and a 200-day moving average of $107.73. AAON, Inc. has a one year low of $68.98 and a one year high of $144.07.

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

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

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.37%. AAON’s dividend payout ratio is presently 21.05%.

Insider Activity at AAON

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired 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 of the company’s stock, valued at $242,580. This trade represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary D. Fields sold 37,189 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total value of $3,651,959.80. Following the completion of the transaction, the chief executive officer now owns 63,714 shares of the company’s stock, valued at $6,256,714.80. This represents a 36.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AAON shares. DA Davidson cut their price target on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a report on Friday, February 28th. Robert W. Baird dropped their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating for the company 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 objective for the company in a report on Friday, February 28th. Finally, StockNews.com cut AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AAON presently has an average rating of “Moderate Buy” and an average 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.