Van ECK Associates Corp Grows Position in AAON, Inc. (NASDAQ:AAON)

Van ECK Associates Corp boosted its position in AAON, Inc. (NASDAQ:AAON) by 45.2% during the 4th quarter, HoldingsChannel reports. The firm owned 20,586 shares of the construction company’s stock after purchasing an additional 6,409 shares during the period. Van ECK Associates Corp’s holdings in AAON were worth $1,521,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of AAON. Vanguard Group Inc. boosted its position in AAON by 57.2% in the third 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 last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of AAON by 46.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,385,306 shares of the construction company’s stock worth $249,392,000 after buying an additional 1,380,751 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of AAON by 50.8% in the third quarter. Conestoga Capital Advisors LLC now owns 3,329,064 shares of the construction company’s stock worth $189,324,000 after buying an additional 1,120,754 shares during the period. Ameriprise Financial Inc. raised its stake in shares of AAON by 111.8% in the third quarter. Ameriprise Financial Inc. now owns 1,606,506 shares of the construction company’s stock worth $91,361,000 after buying an additional 847,953 shares during the period. Finally, Invesco Ltd. raised its stake in shares of AAON by 61.5% in the third quarter. Invesco Ltd. now owns 1,604,098 shares of the construction company’s stock worth $91,225,000 after buying an additional 610,949 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 transaction of $64,408.05. Following the completion of the transaction, the director now owns 53,093 shares in the company, valued at $4,247,970.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Stephen E. Wakefield sold 24,655 shares of the firm’s stock in a transaction on 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 transaction, 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 SEC, which is accessible through this link. Also, Director Norman H. Asbjornson sold 805 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was 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 of the company’s stock, valued at $4,247,970.93. The disclosure for this sale can be found here. Insiders have sold a total of 44,596 shares of company stock worth $3,613,768 in the last 90 days. 18.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, William Blair assumed coverage on shares of AAON in a research note on Monday, April 29th. They set an “outperform” rating on the stock.

AAON Stock Up 1.0 %

NASDAQ AAON opened at $77.75 on Friday. AAON, Inc. has a twelve month low of $52.24 and a twelve month high of $96.34. The business has a 50-day moving average price of $85.56 and a 200-day moving average price of $74.97. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 36.22 and a beta of 0.88.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). The business had revenue of $262.10 million during the quarter, compared to the consensus estimate of $284.76 million. AAON had a return on equity of 25.84% and a net margin of 15.44%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 earnings per share. Research analysts expect that AAON, Inc. will post 2.27 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.08 dividend. The ex-dividend date was Friday, March 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. AAON’s dividend payout ratio is currently 14.91%.

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.