Madison Asset Management LLC Makes New $3.87 Million Investment in AAON, Inc. $AAON

Madison Asset Management LLC acquired a new position in shares of AAON, Inc. (NASDAQ:AAON) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,486 shares of the construction company’s stock, valued at approximately $3,867,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAON. Wellington Management Group LLP grew its stake in AAON by 512.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company’s stock worth $442,896,000 after purchasing an additional 3,966,088 shares in the last quarter. Franklin Resources Inc. raised its position in AAON by 8,956.4% in the 4th quarter. Franklin Resources Inc. now owns 1,222,706 shares of the construction company’s stock valued at $93,231,000 after purchasing an additional 1,209,205 shares in the last quarter. Norges Bank purchased a new position in shares of AAON in the 4th quarter valued at about $41,584,000. Impax Asset Management Group plc boosted its stake in shares of AAON by 53.2% in the 4th quarter. Impax Asset Management Group plc now owns 1,403,648 shares of the construction company’s stock valued at $107,028,000 after buying an additional 487,601 shares during the period. Finally, Wasatch Advisors LP grew its position in shares of AAON by 27.1% during the third quarter. Wasatch Advisors LP now owns 2,138,959 shares of the construction company’s stock worth $199,864,000 after buying an additional 456,560 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on AAON. Zacks Research lowered shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Robert W. Baird decreased their price target on shares of AAON from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Oppenheimer lowered their price target on shares of AAON from $145.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. KeyCorp reissued a “sector weight” rating on shares of AAON in a research report on Thursday, August 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AAON in a report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, AAON presently has an average rating of “Moderate Buy” and an average target price of $126.67.

Insider Buying and Selling

In other AAON news, CAO Rebecca Thompson sold 4,230 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $143.42, for a total value of $606,666.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gordon Douglas Wichman sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $140.39, for a total value of $421,170.00. Following the completion of the sale, the executive vice president owned 10,997 shares of the company’s stock, valued at approximately $1,543,868.83. This represents a 21.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 47,403 shares of company stock worth $6,663,055 in the last quarter. 18.09% of the stock is owned by insiders.

AAON Price Performance

Shares of AAON opened at $80.84 on Friday. AAON, Inc. has a 1-year low of $73.19 and a 1-year high of $150.46. The stock has a market cap of $6.67 billion, a PE ratio of 42.10, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. The firm has a fifty day moving average price of $107.38 and a 200 day moving average price of $105.42.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.18. AAON had a return on equity of 17.32% and a net margin of 8.24%.The company had revenue of $626.98 million for the quarter, compared to analyst estimates of $508.82 million. During the same quarter last year, the company posted $0.22 earnings per share. The business’s quarterly revenue was up 101.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that AAON, Inc. will post 2.3 EPS for the current year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. AAON’s dividend payout ratio is 20.83%.

About AAON

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.