AAON (NASDAQ:AAON) Shares Gap Down After Earnings Miss

Shares of AAON, Inc. (NASDAQ:AAON) gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $90.89, but opened at $87.00. AAON shares last traded at $84.68, with a volume of 421,838 shares.

The construction company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). AAON had a return on equity of 26.70% and a net margin of 15.44%. The company had revenue of $262.10 million for the quarter, compared to the consensus estimate of $284.76 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, March 15th. AAON’s dividend payout ratio is presently 14.91%.

Analyst Ratings Changes

Separately, William Blair started coverage on shares of AAON in a research note on Monday, April 29th. They set an “outperform” rating on the stock.

Insider Buying and Selling

In other AAON news, Director Norman H. Asbjornson sold 19,136 shares of AAON stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $81.30, for a total transaction of $1,555,756.80. Following the sale, the director now directly owns 14,874 shares of the company’s stock, valued at $1,209,256.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AAON news, Director Norman H. Asbjornson sold 19,136 shares of AAON stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $81.30, for a total transaction of $1,555,756.80. Following the completion of the transaction, the director now directly owns 14,874 shares of the company’s stock, valued at $1,209,256.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Norman H. Asbjornson sold 805 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $80.01, for a total transaction of $64,408.05. Following the completion of the sale, the director now directly owns 53,093 shares in the company, valued at approximately $4,247,970.93. The disclosure for this sale can be found here. Insiders sold 44,596 shares of company stock valued at $3,613,768 over the last quarter. Corporate insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

Several hedge funds have recently modified their holdings of AAON. TFO Wealth Partners LLC bought a new position in AAON in the 4th quarter valued at $27,000. Operose Advisors LLC bought a new position in shares of AAON in the third quarter worth about $31,000. CI Investments Inc. grew its stake in shares of AAON by 50.9% during the third quarter. CI Investments Inc. now owns 617 shares of the construction company’s stock valued at $35,000 after purchasing an additional 208 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of AAON in the fourth quarter valued at approximately $36,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in AAON in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Stock Performance

The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 36.52 and a beta of 0.88. The company has a current ratio of 3.23, a quick ratio of 1.54 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $86.21 and a 200-day simple moving average of $74.45.

AAON Company Profile

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.