Federated Hermes Inc. Buys 143,734 Shares of AAON, Inc. $AAON

Federated Hermes Inc. grew its stake in shares of AAON, Inc. (NASDAQ:AAON) by 40.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 495,377 shares of the construction company’s stock after buying an additional 143,734 shares during the period. Federated Hermes Inc.’s holdings in AAON were worth $46,288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Champlain Investment Partners LLC purchased a new position in AAON during the second quarter valued at approximately $87,147,000. Copeland Capital Management LLC bought a new position in AAON in the 3rd quarter valued at $68,036,000. Norges Bank purchased a new position in shares of AAON during the 2nd quarter valued at $51,441,000. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of AAON by 73.1% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 623,811 shares of the construction company’s stock worth $46,006,000 after purchasing an additional 263,434 shares during the period. Finally, Mawer Investment Management Ltd. raised its position in shares of AAON by 39.7% in the second quarter. Mawer Investment Management Ltd. now owns 790,466 shares of the construction company’s stock worth $58,297,000 after buying an additional 224,494 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. William Blair restated an “outperform” rating on shares of AAON in a research report on Tuesday, December 30th. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a research report on Wednesday, January 21st. Oppenheimer reiterated an “outperform” rating and set a $115.00 target price on shares of AAON in a research report on Friday, November 7th. Wall Street Zen cut shares of AAON from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Finally, Zacks Research upgraded shares of AAON from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $104.60.

AAON Stock Up 2.3%

Shares of NASDAQ AAON opened at $93.31 on Friday. The stock has a market capitalization of $7.62 billion, a P/E ratio of 77.12 and a beta of 1.08. AAON, Inc. has a one year low of $62.00 and a one year high of $118.88. The firm’s 50 day simple moving average is $84.88 and its two-hundred day simple moving average is $87.78. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.04 and a quick ratio of 2.03.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Thursday, November 6th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. The company had revenue of $384.24 million during the quarter, compared to analysts’ expectations of $337.20 million. AAON had a net margin of 7.62% and a return on equity of 12.52%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, 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 Thursday, December 18th. Stockholders of record on Wednesday, November 26th were issued a $0.10 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. AAON’s payout ratio is currently 33.06%.

Insider Activity

In related news, EVP Stephen E. Wakefield purchased 4,141 shares of AAON stock in a transaction that occurred on Friday, December 12th. The shares were acquired at an average cost of $77.59 per share, for a total transaction of $321,300.19. Following the transaction, the executive vice president directly owned 15,212 shares in the company, valued at $1,180,299.08. The trade was a 37.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary D. Fields sold 3,553 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 26,340 shares of the company’s stock, valued at $2,769,387.60. The trade was a 11.89% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 18.70% of the company’s stock.

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.