Tributary Capital Management LLC Takes Position in AAON, Inc. $AAON

Tributary Capital Management LLC purchased a new stake in AAON, Inc. (NASDAQ:AAON) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,648 shares of the construction company’s stock, valued at approximately $659,000.

Several other hedge funds have also modified their holdings of AAON. Millennium Management LLC lifted its holdings in shares of AAON by 429.3% in the 1st quarter. Millennium Management LLC now owns 81,145 shares of the construction company’s stock valued at $6,340,000 after buying an additional 65,813 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of AAON by 1.8% in the 1st quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company’s stock valued at $1,271,000 after buying an additional 294 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of AAON by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company’s stock valued at $33,669,000 after buying an additional 73,644 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of AAON by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company’s stock valued at $18,204,000 after buying an additional 12,489 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of AAON by 96.5% in the 2nd 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 during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

AAON Stock Performance

Shares of AAON stock opened at $93.98 on Friday. The stock has a fifty day moving average price of $91.14 and a 200 day moving average price of $91.18. The stock has a market cap of $7.67 billion, a PE ratio of 72.29, a P/E/G ratio of 2.85 and a beta of 1.20. AAON, Inc. has a 1 year low of $62.00 and a 1 year high of $116.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.84 and a current ratio of 2.63.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Monday, March 2nd. The construction company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). The firm had revenue of $424.22 million for the quarter, compared to analyst estimates of $374.10 million. AAON had a return on equity of 13.13% and a net margin of 7.46%.The business’s revenue for the quarter was up 42.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. Sell-side analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Wednesday, March 18th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.4%. AAON’s payout ratio is currently 30.77%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a report on Wednesday, January 21st. DA Davidson reissued a “buy” rating and issued a $120.00 price target on shares of AAON in a report on Tuesday, February 3rd. Wall Street Zen raised AAON from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. William Blair reaffirmed an “outperform” rating on shares of AAON in a report on Monday, March 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $118.00 price objective (up from $115.00) on shares of AAON in a report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, AAON currently has an average rating of “Moderate Buy” and a consensus price target of $107.75.

Insider Transactions at AAON

In related news, insider Casey Kidwell sold 5,225 shares of AAON stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $90.00, for a total transaction of $470,250.00. Following the completion of the transaction, the insider directly owned 12,662 shares of the company’s stock, valued at approximately $1,139,580. The trade was a 29.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 18.09% of the company’s stock.

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.