AAON (NASDAQ:AAON) Coverage Initiated at William Blair

William Blair assumed coverage on shares of AAON (NASDAQ:AAON) in a report published on Monday morning, Marketbeat reports. The brokerage issued an outperform rating on the construction company’s stock.

AAON Price Performance

AAON opened at $93.85 on Monday. The firm has a market capitalization of $7.71 billion, a PE ratio of 43.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.23 and a quick ratio of 1.54. The business’s 50-day moving average is $85.66 and its two-hundred day moving average is $73.66. AAON has a 1 year low of $52.24 and a 1 year high of $96.34.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Wednesday, February 28th. The construction company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. AAON had a net margin of 15.20% and a return on equity of 27.20%. The firm had revenue of $306.60 million for the quarter, compared to the consensus estimate of $294.35 million. During the same quarter in the previous year, the firm earned $0.47 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts anticipate that AAON will post 2.29 earnings per share for the current fiscal year.

AAON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, March 15th. This represents a $0.32 annualized dividend and a yield of 0.34%. AAON’s dividend payout ratio (DPR) is 15.00%.

Insider Buying and Selling at AAON

In other news, VP Stephen E. Wakefield sold 24,655 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $80.86, for a total transaction of $1,993,603.30. Following the sale, the vice president now owns 15,992 shares in the company, valued at $1,293,113.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Stephen E. Wakefield sold 24,655 shares of AAON stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $80.86, for a total transaction of $1,993,603.30. Following the completion of the sale, the vice president now directly owns 15,992 shares in the company, valued at $1,293,113.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Norman H. Asbjornson sold 19,136 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $81.30, for a total transaction of $1,555,756.80. Following the sale, the director now directly owns 14,874 shares in the company, valued at $1,209,256.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,596 shares of company stock worth $3,613,768. 18.55% of the stock is owned by insiders.

Institutional Investors Weigh In On AAON

A number of institutional investors and hedge funds have recently modified their holdings of AAON. Exchange Traded Concepts LLC acquired a new stake in AAON during the 3rd quarter valued at approximately $65,000. Xponance Inc. boosted its holdings in AAON by 51.3% in the third quarter. Xponance Inc. now owns 4,004 shares of the construction company’s stock valued at $228,000 after purchasing an additional 1,357 shares during the last quarter. Maryland State Retirement & Pension System grew its position in AAON by 48.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 24,865 shares of the construction company’s stock worth $1,414,000 after purchasing an additional 8,167 shares during the period. Raymond James & Associates grew its position in AAON by 51.2% during the 3rd quarter. Raymond James & Associates now owns 94,784 shares of the construction company’s stock worth $5,390,000 after purchasing an additional 32,085 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of AAON by 49.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 154,102 shares of the construction company’s stock valued at $8,764,000 after buying an additional 50,919 shares during the last quarter. Institutional investors and hedge funds 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.