Copeland Capital Management LLC Lowers Stock Holdings in AAON, Inc. $AAON

Copeland Capital Management LLC cut its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 787,617 shares of the construction company’s stock after selling 12,360 shares during the quarter. AAON comprises approximately 1.4% of Copeland Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Copeland Capital Management LLC owned approximately 0.97% of AAON worth $65,175,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position 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 buying an additional 164 shares in the last quarter. Danske Bank A S acquired a new stake in shares of AAON in the third quarter worth $47,000. Summit Securities Group LLC acquired a new stake in shares of AAON in the fourth quarter worth $45,000. Huntington National Bank boosted its position in AAON by 21.1% during the 4th quarter. Huntington National Bank now owns 689 shares of the construction company’s stock worth $53,000 after purchasing an additional 120 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of AAON by 46.8% in the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock worth $67,000 after buying an additional 282 shares during the period. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AAON news, insider Casey Kidwell sold 3,153 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $138.30, for a total value of $436,059.90. Following the completion of the sale, the insider directly owned 13,463 shares of the company’s stock, valued at approximately $1,861,932.90. This represents a 18.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gordon Douglas Wichman sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.39, for a total transaction of $421,170.00. Following the transaction, the executive vice president owned 10,997 shares of the company’s stock, valued at approximately $1,543,868.83. This trade represents a 21.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 150,473 shares of company stock worth $19,516,213. Company insiders own 18.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Zacks Research cut AAON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Oppenheimer reaffirmed an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, AAON presently has an average rating of “Moderate Buy” and an average price target of $112.00.

AAON Stock Performance

Shares of NASDAQ AAON opened at $111.42 on Friday. The stock has a market capitalization of $9.13 billion, a P/E ratio of 77.92, a P/E/G ratio of 3.17 and a beta of 1.41. AAON, Inc. has a 52-week low of $62.00 and a 52-week high of $150.46. 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’s 50-day moving average price is $128.38 and its two-hundred day moving average price is $104.32.

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

AAON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given 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 payout ratio is 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.