AAON, Inc. (NASDAQ:AAON) Director David Raymond Stewart Purchases 1,000 Shares

AAON, Inc. (NASDAQ:AAON) Director David Raymond Stewart acquired 1,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at approximately $242,580. The trade was a 50.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

AAON Stock Performance

AAON traded up $3.59 during trading on Friday, reaching $81.90. The company’s stock had a trading volume of 223,555 shares, compared to its average volume of 659,004. AAON, Inc. has a 52-week low of $69.52 and a 52-week high of $144.07. The company’s fifty day moving average price is $109.26 and its 200-day moving average price is $113.32. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 36.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

AAON announced that its Board of Directors has authorized a share buyback plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Tuesday, March 18th. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is currently 19.90%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. DA Davidson dropped their price objective on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Robert W. Baird lowered their price target on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. Finally, CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AAON currently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Institutional Investors Weigh In On AAON

A number of institutional investors have recently added to or reduced their stakes in AAON. Mather Group LLC. lifted its position in shares of AAON by 521.6% during the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Twin Tree Management LP acquired a new stake in shares of AAON in the 4th quarter worth approximately $33,000. Westside Investment Management Inc. acquired a new stake in shares of AAON in the 3rd quarter worth approximately $36,000. Quarry LP grew its holdings in shares of AAON by 49.0% in the 4th quarter. Quarry LP now owns 313 shares of the construction company’s stock worth $37,000 after acquiring an additional 103 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of AAON by 67.5% in the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after acquiring an additional 131 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

About AAON

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.