AAON (NASDAQ:AAON) Shares Down 6% – Here’s Why

AAON, Inc. (NASDAQ:AAON) shares were down 6% during mid-day trading on Monday . The stock traded as low as $105.25 and last traded at $104.7620. 139,343 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,010,685 shares. The stock had previously closed at $111.42.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AAON shares. Zacks Research downgraded AAON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a research note on Tuesday, July 14th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of AAON in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.

AAON Stock Down 7.4%

The firm’s 50-day simple moving average is $128.38 and its 200 day simple moving average is $104.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62. The stock has a market capitalization of $8.45 billion, a P/E ratio of 72.02, a PEG ratio of 3.12 and a beta of 1.41.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.17. AAON had a return on equity of 13.67% and a net margin of 7.30%.The company had revenue of $496.94 million during the quarter, compared to analysts’ expectations of $381.08 million. During the same quarter last year, the company earned $0.37 EPS. AAON’s revenue for the quarter was up 54.3% compared to the same quarter last year. As a group, research analysts expect that AAON, Inc. will post 2.23 EPS for the current year.

AAON Announces Dividend

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

Insider Activity

In other AAON news, Director Gary D. Fields sold 31,271 shares of the company’s stock in a transaction 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 sale, the director directly owned 34,252 shares of the company’s stock, valued at approximately $4,592,165.64. This represents a 47.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total transaction of $1,082,960.00. Following the completion of the sale, the chief executive officer owned 114,371 shares of the company’s stock, valued at approximately $15,482,402.27. This represents a 6.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 150,473 shares of company stock valued at $19,516,213 in the last ninety days. Corporate insiders own 18.09% of the company’s stock.

Hedge Funds Weigh In On AAON

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its position in shares of AAON by 96.5% in the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after buying an additional 164 shares during the last quarter. Danske Bank A S acquired a new stake in AAON during the 3rd quarter valued at $47,000. Summit Securities Group LLC acquired a new stake in AAON during the 4th quarter valued at $45,000. Huntington National Bank boosted its position in AAON by 21.1% during the fourth quarter. Huntington National Bank now owns 689 shares of the construction company’s stock worth $53,000 after purchasing an additional 120 shares during the period. Finally, UMB Bank n.a. boosted its position in AAON by 46.8% during the fourth quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock worth $67,000 after purchasing an additional 282 shares during the period. Institutional investors own 70.81% of the company’s stock.

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.