Hardy Reed LLC Purchases New Shares in AAON, Inc. (NASDAQ:AAON)

Hardy Reed LLC acquired a new position in shares of AAON, Inc. (NASDAQ:AAONGet Rating) in the 1st quarter, Holdings Channel.com reports. The firm acquired 2,342 shares of the construction company’s stock, valued at approximately $131,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in AAON by 1.6% during the 1st quarter. Comerica Bank now owns 208,510 shares of the construction company’s stock worth $11,228,000 after purchasing an additional 3,199 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in AAON by 1.0% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,225,944 shares of the construction company’s stock worth $124,052,000 after purchasing an additional 22,680 shares during the last quarter. Alpha Cubed Investments LLC bought a new stake in AAON during the 1st quarter worth about $483,000. Inspire Investing LLC bought a new stake in AAON during the 1st quarter worth about $237,000. Finally, Cim LLC increased its stake in shares of AAON by 4.6% in the 1st quarter. Cim LLC now owns 5,560 shares of the construction company’s stock valued at $290,000 after acquiring an additional 245 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AAON news, VP Rony D. Gadiwalla sold 3,126 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $55.81, for a total transaction of $174,462.06. Following the completion of the transaction, the vice president now owns 27,144 shares of the company’s stock, valued at approximately $1,514,906.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other AAON news, VP Rony D. Gadiwalla sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $53.80, for a total transaction of $215,200.00. Following the completion of the transaction, the vice president now owns 27,144 shares of the company’s stock, valued at approximately $1,460,347.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Rony D. Gadiwalla sold 3,126 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $55.81, for a total value of $174,462.06. Following the sale, the vice president now owns 27,144 shares in the company, valued at approximately $1,514,906.64. The disclosure for this sale can be found here. Insiders sold a total of 18,358 shares of company stock valued at $987,027 in the last quarter. 19.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AAON has been the subject of a number of recent analyst reports. Sidoti raised AAON from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Tuesday, March 29th. DA Davidson raised AAON from a “neutral” rating to a “buy” rating in a research note on Friday, May 6th. Finally, StockNews.com raised AAON from a “sell” rating to a “hold” rating in a research note on Friday, May 6th.

AAON Price Performance

Shares of AAON opened at $55.56 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.20 and a current ratio of 2.48. The stock has a 50 day simple moving average of $53.28 and a 200 day simple moving average of $56.65. AAON, Inc. has a 52-week low of $47.50 and a 52-week high of $83.79. The firm has a market capitalization of $2.95 billion, a PE ratio of 50.05 and a beta of 0.67.

AAON (NASDAQ:AAONGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The construction company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. AAON had a return on equity of 14.74% and a net margin of 10.05%. The business had revenue of $182.77 million during the quarter, compared to analyst estimates of $158.47 million. During the same period in the previous year, the firm earned $0.30 EPS. AAON’s quarterly revenue was up 57.8% compared to the same quarter last year. Sell-side analysts predict that AAON, Inc. will post 1.79 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 3rd were given a dividend of $0.19 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend was Thursday, June 2nd. AAON’s dividend payout ratio (DPR) is currently 34.23%.

About AAON

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for AAON (NASDAQ:AAON)

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