Kettle Hill Capital Management LLC Buys New Shares in AAON, Inc. $AAON

Kettle Hill Capital Management LLC bought a new stake in shares of AAON, Inc. (NASDAQ:AAON) during the fourth quarter, Holdings Channel reports. The institutional investor bought 30,053 shares of the construction company’s stock, valued at approximately $2,292,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in AAON by 512.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company’s stock valued at $442,896,000 after purchasing an additional 3,966,088 shares in the last quarter. Champlain Investment Partners LLC increased its stake in AAON by 96.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company’s stock valued at $216,811,000 after purchasing an additional 1,138,658 shares in the last quarter. Wasatch Advisors LP increased its stake in AAON by 27.1% during the 3rd quarter. Wasatch Advisors LP now owns 2,138,959 shares of the construction company’s stock valued at $199,864,000 after purchasing an additional 456,560 shares in the last quarter. First Trust Advisors LP grew its stake in shares of AAON by 136.4% in the 3rd quarter. First Trust Advisors LP now owns 1,933,595 shares of the construction company’s stock worth $180,675,000 after acquiring an additional 1,115,566 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in shares of AAON by 5.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company’s stock worth $135,421,000 after acquiring an additional 84,693 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating on shares of AAON in a research note on Friday, May 8th. William Blair reiterated an “outperform” rating on shares of AAON in a research note on Monday, March 2nd. Finally, Zacks Research upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, AAON currently has an average rating of “Buy” and a consensus price target of $112.00.

Insider Buying and Selling at AAON

In other AAON news, Director Gary D. Fields sold 31,271 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total transaction of $4,192,502.97. Following the transaction, the director directly owned 34,252 shares in the company, valued at $4,592,165.64. This trade represents a 47.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca Thompson sold 21,914 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the transaction, the chief accounting officer owned 27,681 shares in the company, valued at $2,773,913.01. The trade was a 44.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 150,473 shares of company stock valued at $19,516,213 over the last ninety days. Insiders own 18.09% of the company’s stock.

AAON Price Performance

Shares of NASDAQ:AAON opened at $131.26 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $10.75 billion, a PE ratio of 91.79, a P/E/G ratio of 3.56 and a beta of 1.38. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $150.46. The company has a 50-day moving average price of $116.30 and a two-hundred day moving average price of $97.99.

AAON (NASDAQ:AAON) last issued its earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.17. AAON had a net margin of 7.30% and a return on equity of 13.67%. The firm had revenue of $496.94 million during the quarter, compared to analyst estimates of $381.08 million. During the same quarter last year, the business earned $0.37 earnings per share. The company’s quarterly revenue was up 54.3% on a year-over-year basis. Equities analysts forecast that AAON, Inc. will post 2.23 EPS for the current year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, June 5th. AAON’s dividend payout ratio (DPR) is presently 27.97%.

AAON Company Profile

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.