Spyglass Capital Management LLC Sells 340,081 Shares of AAON, Inc. $AAON

Spyglass Capital Management LLC lessened its stake in shares of AAON, Inc. (NASDAQ:AAON) by 28.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 858,840 shares of the construction company’s stock after selling 340,081 shares during the quarter. AAON makes up 5.0% of Spyglass Capital Management LLC’s holdings, making the stock its 6th biggest holding. Spyglass Capital Management LLC owned approximately 1.05% of AAON worth $71,069,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake 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 acquiring an additional 164 shares during the last quarter. Danske Bank A S bought a new stake in AAON during the 3rd quarter worth $47,000. Summit Securities Group LLC acquired a new position in AAON in the 4th quarter worth about $45,000. Huntington National Bank increased its holdings in AAON by 21.1% in 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 in the last quarter. Finally, UMB Bank n.a. raised its position in AAON by 46.8% in the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock valued at $67,000 after purchasing an additional 282 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Stock Performance

NASDAQ AAON opened at $93.74 on Wednesday. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 65.55, a PEG ratio of 2.82 and a beta of 1.41. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $150.46. The stock has a fifty day simple moving average of $123.80 and a 200 day simple moving average of $105.72. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46.

AAON (NASDAQ:AAON) last announced 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. The business had revenue of $496.94 million during the quarter, compared to analyst estimates of $381.08 million. AAON had a return on equity of 13.67% and a net margin of 7.30%.AAON’s revenue for the quarter was up 54.3% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. Sell-side analysts expect that AAON, Inc. will post 2.24 EPS for the current year.

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders 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 dividend payout ratio (DPR) is 27.97%.

Insider Activity at AAON

In related news, Director Gary D. Fields sold 31,271 shares of AAON stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $134.07, for a total value of $4,192,502.97. Following the transaction, the director directly owned 34,252 shares of the company’s stock, valued at $4,592,165.64. The trade was a 47.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gordon Douglas Wichman sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $140.39, for a total value of $421,170.00. Following the completion of the sale, the executive vice president owned 10,997 shares in the company, valued at $1,543,868.83. The trade was a 21.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 118,580 shares of company stock valued at $16,321,222 over the last ninety days. Insiders own 18.09% of the company’s stock.

Wall Street Analyst Weigh In

AAON has been the topic of a number of recent research reports. KeyCorp began coverage on AAON in a research note on Thursday, July 23rd. They set a “sector weight” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. Zacks Research lowered shares of AAON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Oppenheimer reiterated an “outperform” rating on shares of AAON in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, AAON presently has an average rating of “Moderate Buy” and a consensus target price of $112.00.

AAON 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.