Copeland Capital Management LLC Invests $68.04 Million in AAON, Inc. $AAON

Copeland Capital Management LLC bought a new stake in shares of AAON, Inc. (NASDAQ:AAON) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 728,124 shares of the construction company’s stock, valued at approximately $68,036,000. AAON accounts for 1.4% of Copeland Capital Management LLC’s holdings, making the stock its 16th biggest holding. Copeland Capital Management LLC owned approximately 0.89% of AAON at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAON. Champlain Investment Partners LLC purchased a new position in shares of AAON during the 2nd quarter worth $87,147,000. Norges Bank bought a new position in AAON in the 2nd quarter worth $51,441,000. Voya Investment Management LLC lifted its position in AAON by 333.8% during the first quarter. Voya Investment Management LLC now owns 392,841 shares of the construction company’s stock valued at $30,693,000 after purchasing an additional 302,282 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in AAON by 73.1% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 623,811 shares of the construction company’s stock valued at $46,006,000 after purchasing an additional 263,434 shares in the last quarter. Finally, Mawer Investment Management Ltd. grew its holdings in AAON by 39.7% during the second quarter. Mawer Investment Management Ltd. now owns 790,466 shares of the construction company’s stock valued at $58,297,000 after purchasing an additional 224,494 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Performance

NASDAQ:AAON opened at $75.70 on Tuesday. The stock has a 50-day moving average price of $90.26 and a 200 day moving average price of $85.90. The stock has a market capitalization of $6.18 billion, a P/E ratio of 62.56 and a beta of 1.06. AAON, Inc. has a 12-month low of $62.00 and a 12-month high of $137.90. The company has a current ratio of 3.04, a quick ratio of 2.03 and a debt-to-equity ratio of 0.42.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Tuesday, June 10th. The construction company reported $0.37 earnings per share for the quarter. AAON had a return on equity of 12.52% and a net margin of 7.62%.The business had revenue of $322.05 million during the quarter. Equities research analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Wednesday, November 26th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, November 26th. AAON’s dividend payout ratio (DPR) is presently 33.06%.

Insiders Place Their Bets

In other AAON news, Director Gary D. Fields sold 3,553 shares of AAON stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $105.14, for a total value of $373,562.42. Following the sale, the director directly owned 26,340 shares in the company, valued at approximately $2,769,387.60. The trade was a 11.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Stephen E. Wakefield acquired 4,141 shares of the company’s stock in a transaction on Friday, December 12th. The shares were bought at an average cost of $77.59 per share, with a total value of $321,300.19. Following the acquisition, the executive vice president directly owned 15,212 shares in the company, valued at approximately $1,180,299.08. The trade was a 37.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 18.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AAON. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research note on Wednesday, October 8th. Oppenheimer restated an “outperform” rating and set a $115.00 target price on shares of AAON in a research note on Friday, November 7th. Finally, Zacks Research raised shares of AAON from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $104.60.

AAON Profile

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.