AAON, Inc. $AAON Position Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 2.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 442,472 shares of the construction company’s stock after selling 10,764 shares during the period. Bank of New York Mellon Corp’s holdings in AAON were worth $36,615,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAON. Comerica Bank increased its stake in shares of AAON by 23.7% during the fourth quarter. Comerica Bank now owns 238,462 shares of the construction company’s stock valued at $18,183,000 after acquiring an additional 45,660 shares during the period. Royce & Associates LP raised its holdings in AAON by 9.6% during the 4th quarter. Royce & Associates LP now owns 467,496 shares of the construction company’s stock worth $35,647,000 after buying an additional 40,892 shares during the period. Stephens Investment Management Group LLC lifted its position in shares of AAON by 9.9% in the 4th quarter. Stephens Investment Management Group LLC now owns 636,296 shares of the construction company’s stock valued at $48,518,000 after acquiring an additional 57,281 shares in the last quarter. Nepsis Inc. boosted its position in shares of AAON by 26.7% in the fourth quarter. Nepsis Inc. now owns 117,707 shares of the construction company’s stock worth $8,975,000 after buying an additional 24,791 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its position in AAON by 5.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company’s stock worth $135,421,000 after acquiring an additional 84,693 shares during the period. Institutional investors own 70.81% of the company’s stock.

Insider Activity at AAON

In other AAON news, Director Gary D. Fields sold 31,271 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total transaction of $4,192,502.97. Following the completion of the transaction, the director owned 34,252 shares in the company, valued at approximately $4,592,165.64. This trade represents a 47.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rebecca Thompson sold 9,672 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $136.59, for a total transaction of $1,321,098.48. Following the sale, the chief accounting officer directly owned 27,681 shares of the company’s stock, valued at approximately $3,780,947.79. This trade represents a 25.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 118,980 shares of company stock worth $16,361,330 in the last three months. Insiders own 18.09% of the company’s stock.

AAON Trading Down 4.7%

NASDAQ:AAON opened at $102.67 on Friday. The company has a market cap of $8.41 billion, a P/E ratio of 71.80, a price-to-earnings-growth ratio of 2.86 and a beta of 1.41. The business has a 50 day moving average price of $125.19 and a two-hundred day moving average price of $105.31. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $150.46.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Thursday, May 7th. The construction company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.17. AAON had a net margin of 7.30% and a return on equity of 13.67%. The company had revenue of $496.94 million during the quarter, compared to the consensus estimate of $381.08 million. During the same quarter last year, the firm posted $0.37 EPS. The company’s quarterly revenue was up 54.3% on a year-over-year basis. As a group, analysts expect that AAON, Inc. will post 2.24 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.40 annualized dividend and a yield of 0.4%. AAON’s dividend payout ratio is currently 27.97%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Oppenheimer reiterated an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Zacks Research downgraded shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a research report on Tuesday, July 14th. Finally, KeyCorp assumed coverage on shares of AAON in a research report on Thursday. They issued a “sector weight” rating for the company. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.00.

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.