KBC Group NV Acquires 319 Shares of AAON, Inc. (NASDAQ:AAON)

KBC Group NV boosted its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,022 shares of the construction company’s stock after purchasing an additional 319 shares during the quarter. KBC Group NV’s holdings in AAON were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rakuten Securities Inc. grew its stake in shares of AAON by 613.3% in the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company’s stock worth $25,000 after acquiring an additional 276 shares during the last quarter. Versant Capital Management Inc increased its position in shares of AAON by 652.3% during the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company’s stock valued at $26,000 after purchasing an additional 287 shares during the period. Twin Tree Management LP acquired a new position in shares of AAON in the fourth quarter valued at $33,000. Quarry LP lifted its position in AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company’s stock worth $37,000 after purchasing an additional 103 shares during the period. Finally, Whittier Trust Co. bought a new stake in AAON in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Trading Down 0.1%

Shares of AAON stock opened at $75.20 on Friday. The stock has a market capitalization of $6.12 billion, a P/E ratio of 39.58 and a beta of 0.95. AAON, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07. The company has a quick ratio of 1.80, a current ratio of 2.77 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $89.12 and a 200 day simple moving average of $96.62.

AAON (NASDAQ:AAON) last posted its earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. The company had revenue of $322.05 million during the quarter, compared to analysts’ expectations of $289.16 million. AAON had a net margin of 12.60% and a return on equity of 20.23%. AAON’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 earnings per share. Research analysts expect that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

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

Insider Buying and Selling at AAON

In related news, CEO Gary D. Fields sold 8,357 shares of AAON stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $98.66, for a total value of $824,501.62. Following the completion of the transaction, the chief executive officer directly owned 26,491 shares of the company’s stock, valued at $2,613,602.06. The trade was a 23.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gordon Douglas Wichman sold 21,302 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the sale, the director directly owned 8,754 shares in the company, valued at approximately $914,617.92. This represents a 70.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,823 shares of company stock worth $7,122,451 in the last 90 days. Company insiders own 18.70% of the company’s stock.

Wall Street Analysts Forecast Growth

AAON has been the topic of a number of analyst reports. Sidoti raised shares of AAON from a “neutral” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Monday, June 16th. Wall Street Zen upgraded AAON from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $111.50.

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.