Arcadia Investment Management Corp MI Increases Stake in AAON, Inc. $AAON

Arcadia Investment Management Corp MI increased its stake in AAON, Inc. (NASDAQ:AAON) by 88.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,825 shares of the construction company’s stock after purchasing an additional 13,087 shares during the period. Arcadia Investment Management Corp MI’s holdings in AAON were worth $2,052,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AAON. Cresset Asset Management LLC increased its position in shares of AAON by 1.3% in the 1st quarter. Cresset Asset Management LLC now owns 12,151 shares of the construction company’s stock valued at $949,000 after acquiring an additional 157 shares during the period. CWM LLC grew its stake in AAON by 25.7% during the 1st quarter. CWM LLC now owns 938 shares of the construction company’s stock valued at $73,000 after purchasing an additional 192 shares during the last quarter. UMB Bank n.a. grew its stake in AAON by 32.9% during the 2nd quarter. UMB Bank n.a. now owns 783 shares of the construction company’s stock valued at $58,000 after purchasing an additional 194 shares during the last quarter. Journey Strategic Wealth LLC increased its holdings in shares of AAON by 11.2% in the first quarter. Journey Strategic Wealth LLC now owns 2,726 shares of the construction company’s stock valued at $213,000 after purchasing an additional 274 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of AAON by 1.8% in the first quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company’s stock worth $1,271,000 after purchasing an additional 294 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Stock Down 1.2%

AAON stock opened at $94.04 on Friday. AAON, Inc. has a one year low of $62.00 and a one year high of $142.20. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. The firm’s fifty day moving average is $95.90 and its 200 day moving average is $88.77. The firm has a market cap of $7.68 billion, a PE ratio of 63.97 and a beta of 1.05.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Tuesday, June 10th. The construction company reported $0.37 earnings per share for the quarter. AAON had a net margin of 9.70% and a return on equity of 15.45%. The business had revenue of $322.05 million during the quarter. On average, research analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Wednesday, November 26th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. AAON’s dividend payout ratio is presently 33.06%.

Analysts Set New Price Targets

A number of brokerages recently commented on AAON. Wall Street Zen lowered AAON from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of AAON in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a report on Wednesday, October 8th. DA Davidson lowered their price target on shares of AAON from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Finally, Zacks Research raised AAON from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.60.

Insiders Place Their Bets

In other AAON news, CFO Rebecca Thompson sold 9,350 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $81.09, for a total value of $758,191.50. Following the sale, the chief financial officer directly owned 24,396 shares of the company’s stock, valued at approximately $1,978,271.64. This trade represents a 27.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Douglas Eason sold 12,003 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $85.08, for a total value of $1,021,215.24. Following the transaction, the insider directly owned 5,301 shares of the company’s stock, valued at approximately $451,009.08. The trade was a 69.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 51,652 shares of company stock worth $4,966,916. 18.70% of the stock is owned by corporate insiders.

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.