Fred Alger Management LLC acquired a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 179,968 shares of the construction company's stock, valued at approximately $15,700,000. Fred Alger Management LLC owned 0.22% of AAON as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also made changes to their positions in AAON. Vanguard Group Inc. increased its position in AAON by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company's stock valued at $641,267,000 after acquiring an additional 61,544 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of AAON by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,568,746 shares of the construction company's stock valued at $136,857,000 after purchasing an additional 24,095 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of AAON by 106.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company's stock valued at $95,010,000 after purchasing an additional 561,195 shares during the period. Wasatch Advisors LP raised its stake in shares of AAON by 5.0% during the fourth quarter. Wasatch Advisors LP now owns 1,024,860 shares of the construction company's stock worth $75,706,000 after purchasing an additional 49,007 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AAON by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 958,225 shares of the construction company's stock worth $83,596,000 after purchasing an additional 157,699 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the stock. DA Davidson reissued a "buy" rating and issued a $102.00 price objective on shares of AAON in a research note on Wednesday, June 26th. Baird R W upgraded shares of AAON to a "hold" rating in a research note on Wednesday, July 24th. Robert W. Baird raised their price objective on shares of AAON from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Finally, StockNews.com upgraded AAON from a "sell" rating to a "hold" rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, AAON currently has an average rating of "Hold" and an average target price of $102.00.
Check Out Our Latest Report on AAON
In other news, Director Norman H. Asbjornson sold 11,022 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total value of $963,433.02. Following the completion of the transaction, the director now owns 5,135 shares in the company, valued at $448,850.35. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Norman H. Asbjornson sold 11,022 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total value of $963,433.02. Following the sale, the director now directly owns 5,135 shares in the company, valued at $448,850.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen E. Wakefield sold 29,946 shares of AAON stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $90.13, for a total value of $2,699,032.98. Following the transaction, the vice president now owns 15,670 shares of the company's stock, valued at $1,412,337.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,609 shares of company stock worth $5,441,927. 18.55% of the stock is owned by corporate insiders.
NASDAQ:AAON opened at $107.30 on Thursday. The firm's fifty day simple moving average is $91.40 and its 200-day simple moving average is $85.80. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The stock has a market cap of $8.82 billion, a PE ratio of 49.91 and a beta of 0.80. AAON, Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $109.07.
AAON (NASDAQ:AAON - Get Free Report) last issued its earnings results on Thursday, August 1st. The construction company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.08. The company had revenue of $313.57 million during the quarter, compared to analysts' expectations of $283.77 million. AAON had a net margin of 15.60% and a return on equity of 26.02%. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. Analysts expect that AAON, Inc. will post 2.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.32 annualized dividend and a yield of 0.30%. AAON's dividend payout ratio is presently 14.88%.
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.
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