Sei Investments Co. cut its stake in shares of AAON, Inc. (NASDAQ:AAON – Free Report) by 8.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 418,095 shares of the construction company’s stock after selling 38,535 shares during the quarter. Sei Investments Co. owned approximately 0.51% of AAON worth $34,597,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAON. EverSource Wealth Advisors LLC lifted its holdings in AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after purchasing an additional 164 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of AAON during the 4th quarter valued at $45,000. Danske Bank A S purchased a new position in shares of AAON in the third quarter valued at about $47,000. Huntington National Bank boosted its stake in shares of AAON by 21.1% in the fourth quarter. Huntington National Bank now owns 689 shares of the construction company’s stock worth $53,000 after acquiring an additional 120 shares during the period. Finally, UMB Bank n.a. grew its position in shares of AAON by 46.8% during the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock worth $67,000 after purchasing an additional 282 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CAO Rebecca Thompson sold 4,230 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total value of $606,666.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary D. Fields sold 19,000 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $140.20, for a total transaction of $2,663,800.00. Following the completion of the transaction, the director directly owned 15,252 shares of the company’s stock, valued at approximately $2,138,330.40. This trade represents a 55.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 118,580 shares of company stock worth $16,321,222. Insiders own 18.09% of the company’s stock.
AAON Trading Down 1.6%
AAON (NASDAQ:AAON – Get Free Report) last issued its earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.17. AAON had a return on equity of 13.67% and a net margin of 7.30%.The firm had revenue of $496.94 million for the quarter, compared to analysts’ expectations of $381.08 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The business’s revenue was up 54.3% compared to the same quarter last year. Equities research analysts anticipate that AAON, Inc. will post 2.24 EPS for the current fiscal year.
AAON Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. AAON’s payout ratio is presently 27.97%.
Wall Street Analysts Forecast Growth
AAON has been the topic of several recent analyst reports. Zacks Research downgraded AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Oppenheimer reaffirmed an “outperform” rating on shares of AAON in a report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of AAON in a research report on Tuesday, July 14th. Finally, KeyCorp began coverage on shares of AAON in a research report on Thursday. They set a “sector weight” rating on the stock. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.00.
Get Our Latest Stock Report on AAON
About AAON
AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.
AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.
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