Teacher Retirement System of Texas Invests $789,000 in AAON, Inc. (NASDAQ:AAON)

Teacher Retirement System of Texas purchased a new stake in shares of AAON, Inc. (NASDAQ:AAON) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,099 shares of the construction company’s stock, valued at approximately $789,000.

Other hedge funds have also bought and sold shares of the company. HUB Investment Partners LLC lifted its position in shares of AAON by 5.2% in the fourth quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock worth $237,000 after buying an additional 100 shares in the last quarter. Smith Moore & CO. boosted its position in AAON by 3.1% during the 4th quarter. Smith Moore & CO. now owns 3,300 shares of the construction company’s stock valued at $388,000 after acquiring an additional 100 shares in the last quarter. Curi RMB Capital LLC lifted its holdings in shares of AAON by 0.5% during the 4th quarter. Curi RMB Capital LLC now owns 18,503 shares of the construction company’s stock valued at $2,177,000 after purchasing an additional 100 shares during the last quarter. Quarry LP lifted its holdings in shares of AAON by 49.0% during the 4th quarter. Quarry LP now owns 313 shares of the construction company’s stock valued at $37,000 after purchasing an additional 103 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in AAON by 26.3% in the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company’s stock worth $56,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

AAON Price Performance

AAON stock opened at $74.49 on Tuesday. The firm has a 50 day moving average of $87.47 and a 200-day moving average of $94.79. AAON, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 39.21 and a beta of 0.95.

AAON (NASDAQ:AAON) last released its earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.24 by $0.13. The firm 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 revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. As a group, equities analysts expect that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The business also recently disclosed 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 0.54%. AAON’s dividend payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAON. Sidoti upgraded AAON from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Monday, June 16th. Wall Street Zen raised AAON from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $111.50.

Insider Activity

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of the business’s 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 transaction, the director 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary D. Fields sold 37,189 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total value of $3,651,959.80. Following the completion of the transaction, the chief executive officer owned 63,714 shares in the company, valued at approximately $6,256,714.80. This trade represents a 36.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,823 shares of company stock worth $7,122,451 over the last three months. 18.70% of the stock is currently owned by corporate insiders.

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.