Amalgamated Bank Has $2.66 Million Stake in AAON, Inc. (NASDAQ:AAON)

Amalgamated Bank lowered its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,068 shares of the construction company’s stock after selling 889 shares during the quarter. Amalgamated Bank’s holdings in AAON were worth $2,662,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. KBC Group NV raised its position in AAON by 11.8% in the 1st quarter. KBC Group NV now owns 3,022 shares of the construction company’s stock valued at $236,000 after buying an additional 319 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of AAON by 107.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 654,794 shares of the construction company’s stock worth $51,833,000 after acquiring an additional 339,558 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of AAON by 49.2% in the first quarter. Sequoia Financial Advisors LLC now owns 3,197 shares of the construction company’s stock valued at $250,000 after purchasing an additional 1,054 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of AAON by 100.7% in the first quarter. Golden State Wealth Management LLC now owns 3,272 shares of the construction company’s stock worth $256,000 after purchasing an additional 1,642 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of AAON by 60.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 27,038 shares of the construction company’s stock worth $2,112,000 after purchasing an additional 10,137 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Insider Buying and Selling

In other AAON news, CEO Gary D. Fields sold 37,189 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total value of $3,651,959.80. Following the transaction, the chief executive officer directly owned 63,714 shares in the company, valued at $6,256,714.80. The trade was a 36.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gordon Douglas Wichman sold 21,302 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the completion of the transaction, the director directly owned 8,754 shares in the company, valued at $914,617.92. The trade was a 70.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,823 shares of company stock worth $7,122,451 over the last three months. 18.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Sidoti upgraded AAON from a “neutral” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Monday, June 16th. Wall Street Zen upgraded AAON from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $111.50.

AAON Stock Performance

Shares of AAON opened at $75.20 on Friday. The firm has a 50-day moving average of $89.12 and a 200-day moving average of $96.62. AAON, Inc. has a one year low of $68.98 and a one year high of $144.07. The company has a market cap of $6.12 billion, a PE ratio of 39.58 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.77 and a quick ratio of 1.80.

AAON (NASDAQ:AAON) last issued its earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.13. The business had revenue of $322.05 million during the quarter, compared to the consensus estimate of $289.16 million. AAON had a net margin of 12.60% and a return on equity of 20.23%. AAON’s revenue was up 22.9% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. As a group, equities analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current year.

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. AAON’s dividend payout ratio is currently 21.05%.

AAON 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.