AAON, Inc. (NASDAQ:AAON) Announces Semi-Annual Dividend of $0.24

AAON, Inc. (NASDAQ:AAONGet Rating) announced a Semi-Annual dividend on Tuesday, November 8th, Zacks reports. Shareholders of record on Monday, November 28th will be paid a dividend of 0.24 per share by the construction company on Friday, December 16th. This represents a yield of 0.6%. The ex-dividend date of this dividend is Friday, November 25th. This is a boost from AAON’s previous Semi-Annual dividend of $0.19.

AAON has raised its dividend by an average of 5.9% annually over the last three years and has increased its dividend every year for the last 1 years. AAON has a dividend payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AAON to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 18.8%.

AAON Stock Performance

Shares of NASDAQ:AAON opened at $78.65 on Thursday. The stock has a market capitalization of $4.18 billion, a P/E ratio of 62.92 and a beta of 0.76. AAON has a 1-year low of $47.50 and a 1-year high of $83.79. The company has a current ratio of 2.36, a quick ratio of 1.12 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $62.72 and a two-hundred day moving average price of $58.28.

Analysts Set New Price Targets

Several brokerages have weighed in on AAON. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a report on Saturday, November 19th. CJS Securities started coverage on AAON in a research note on Thursday, September 15th. They issued an “outperform” rating and a $73.00 price target for the company. DA Davidson upped their price target on AAON to $75.00 in a research note on Tuesday, November 15th. Finally, TheStreet raised AAON from a “c+” rating to a “b” rating in a research note on Wednesday, November 9th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, AAON has a consensus rating of “Moderate Buy” and a consensus price target of $73.33.

Insider Buying and Selling

In related news, CFO Rebecca Thompson sold 15,500 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $80.05, for a total transaction of $1,240,775.00. Following the completion of the sale, the chief financial officer now directly owns 9,877 shares of the company’s stock, valued at approximately $790,653.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Rony D. Gadiwalla sold 2,247 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $78.61, for a total transaction of $176,636.67. Following the completion of the sale, the vice president now directly owns 20,726 shares of the company’s stock, valued at approximately $1,629,270.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Rebecca Thompson sold 15,500 shares of the stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $80.05, for a total value of $1,240,775.00. Following the sale, the chief financial officer now directly owns 9,877 shares of the company’s stock, valued at $790,653.85. The disclosure for this sale can be found here. In the last three months, insiders sold 54,395 shares of company stock valued at $3,580,715. 19.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AAON

A number of large investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky acquired a new position in AAON during the 3rd quarter worth approximately $679,000. Captrust Financial Advisors boosted its position in AAON by 33.9% during the 3rd quarter. Captrust Financial Advisors now owns 5,127 shares of the construction company’s stock worth $276,000 after acquiring an additional 1,298 shares during the last quarter. Jane Street Group LLC acquired a new position in AAON during the 3rd quarter worth approximately $531,000. BNP Paribas Arbitrage SNC boosted its position in AAON by 13.9% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 24,368 shares of the construction company’s stock worth $1,313,000 after acquiring an additional 2,965 shares during the last quarter. Finally, State Street Corp boosted its position in AAON by 1.5% during the 3rd quarter. State Street Corp now owns 1,440,101 shares of the construction company’s stock worth $77,593,000 after acquiring an additional 21,393 shares during the last quarter. Institutional investors and hedge funds own 70.61% of the company’s stock.

AAON Company Profile

(Get Rating)

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.

Further Reading

Dividend History for AAON (NASDAQ:AAON)

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