Handelsbanken Fonder AB Takes Position in AAON, Inc. (NASDAQ:AAON)

Handelsbanken Fonder AB purchased a new stake in AAON, Inc. (NASDAQ:AAON) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,524 shares of the construction company’s stock, valued at approximately $851,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of AAON by 57.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,489,640 shares of the construction company’s stock worth $425,936,000 after purchasing an additional 2,725,779 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in AAON during the fourth quarter worth $22,784,000. Conestoga Capital Advisors LLC boosted its position in AAON by 0.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 3,354,242 shares of the construction company’s stock valued at $247,778,000 after acquiring an additional 25,178 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of AAON by 75.7% in the 3rd quarter. Lazard Asset Management LLC now owns 33,189 shares of the construction company’s stock valued at $1,887,000 after acquiring an additional 14,303 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of AAON by 49.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 89,210 shares of the construction company’s stock worth $5,073,000 after acquiring an additional 29,704 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Insider Activity at AAON

In other news, Director Norman H. Asbjornson sold 805 shares of AAON stock in a transaction on Monday, March 11th. The shares were sold at an average price of $80.01, for a total transaction of $64,408.05. Following the completion of the sale, the director now directly owns 53,093 shares in the company, valued at $4,247,970.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Stephen E. Wakefield sold 24,655 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $80.86, for a total value of $1,993,603.30. Following the transaction, the vice president now directly owns 15,992 shares of the company’s stock, valued at $1,293,113.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Norman H. Asbjornson sold 805 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $80.01, for a total value of $64,408.05. Following the completion of the transaction, the director now owns 53,093 shares of the company’s stock, valued at $4,247,970.93. The disclosure for this sale can be found here. Insiders sold 44,596 shares of company stock valued at $3,613,768 in the last three months. 18.55% of the stock is owned by insiders.

AAON Trading Up 3.0 %

NASDAQ AAON opened at $93.85 on Tuesday. The company has a 50 day moving average price of $85.66 and a 200 day moving average price of $73.66. The firm has a market cap of $7.71 billion, a PE ratio of 43.99 and a beta of 0.91. The company has a quick ratio of 1.54, a current ratio of 3.23 and a debt-to-equity ratio of 0.05. AAON, Inc. has a 52 week low of $52.24 and a 52 week high of $96.34.

AAON (NASDAQ:AAON) last announced its earnings results on Wednesday, February 28th. The construction company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. AAON had a return on equity of 27.20% and a net margin of 15.20%. The firm had revenue of $306.60 million for the quarter, compared to the consensus estimate of $294.35 million. During the same period in the previous year, the business earned $0.47 EPS. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts forecast that AAON, Inc. will post 2.29 EPS for the current fiscal year.

AAON Announces Dividend

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

Analysts Set New Price Targets

Separately, William Blair began coverage on AAON in a research report on Monday. They set an “outperform” rating on the stock.

AAON Company Profile

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.