AAON, Inc. $AAON Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its stake in shares of AAON, Inc. (NASDAQ:AAON) by 7.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,236 shares of the construction company’s stock after selling 10,442 shares during the quarter. Granite Investment Partners LLC’s holdings in AAON were worth $11,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in AAON by 44.3% in the 4th quarter. Wellington Management Group LLP now owns 6,839,277 shares of the construction company’s stock valued at $521,495,000 after purchasing an additional 2,099,385 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of AAON by 23.8% during the first quarter. Wasatch Advisors LP now owns 2,268,118 shares of the construction company’s stock worth $187,687,000 after buying an additional 436,704 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of AAON by 5.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company’s stock worth $135,421,000 after buying an additional 84,693 shares in the last quarter. Capital International Investors raised its position in shares of AAON by 50.9% in the third quarter. Capital International Investors now owns 1,471,792 shares of the construction company’s stock valued at $137,524,000 after buying an additional 496,581 shares during the last quarter. Finally, Impax Asset Management Group plc raised its position in shares of AAON by 53.2% in the fourth quarter. Impax Asset Management Group plc now owns 1,403,648 shares of the construction company’s stock valued at $107,028,000 after buying an additional 487,601 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Price Performance

AAON stock opened at $107.98 on Thursday. AAON, Inc. has a 1 year low of $62.00 and a 1 year high of $150.46. The firm has a 50 day moving average price of $127.20 and a 200 day moving average price of $102.70. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 75.51, a PEG ratio of 3.08 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62.

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

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, June 5th. AAON’s dividend payout ratio is presently 27.97%.

Insider Buying and Selling at AAON

In related news, EVP Gordon Douglas Wichman sold 3,000 shares of AAON stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $140.39, for a total value of $421,170.00. Following the transaction, the executive vice president owned 10,997 shares in the company, valued at approximately $1,543,868.83. This trade represents a 21.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary D. Fields sold 19,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.20, for a total value of $2,663,800.00. Following the sale, 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 position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 150,473 shares of company stock worth $19,516,213. 18.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AAON. Zacks Research raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Oppenheimer reaffirmed an “outperform” rating on shares of AAON in a research note on Friday, May 8th. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $112.00.

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.