Conestoga Capital Advisors LLC Sells 1,728 Shares of AAON, Inc. (NASDAQ:AAON)

Conestoga Capital Advisors LLC lessened its holdings in AAON, Inc. (NASDAQ:AAON) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,888,912 shares of the construction company’s stock after selling 1,728 shares during the period. AAON comprises 2.2% of Conestoga Capital Advisors LLC’s holdings, making the stock its 17th biggest holding. Conestoga Capital Advisors LLC’s holdings in AAON were worth $147,581,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in shares of AAON by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company’s stock valued at $455,000 after purchasing an additional 244 shares in the last quarter. Parallel Advisors LLC lifted its stake in AAON by 26.3% in the 1st quarter. Parallel Advisors LLC now owns 716 shares of the construction company’s stock valued at $56,000 after purchasing an additional 149 shares during the last quarter. CHICAGO TRUST Co NA acquired a new stake in AAON in the first quarter valued at approximately $333,000. American Century Companies Inc. grew its stake in shares of AAON by 19.3% during the fourth quarter. American Century Companies Inc. now owns 68,760 shares of the construction company’s stock worth $8,092,000 after buying an additional 11,140 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of AAON during the fourth quarter worth $42,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Stock Up 1.0%

Shares of AAON opened at $73.71 on Tuesday. The stock’s 50-day moving average price is $91.66 and its two-hundred day moving average price is $102.10. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07. The company has a market capitalization of $6.00 billion, a PE ratio of 32.47 and a beta of 1.03. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.13. The company had revenue of $322.05 million during the quarter, compared to the consensus estimate of $289.16 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. On average, analysts anticipate that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a $0.10 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. AAON’s dividend payout ratio (DPR) is currently 21.05%.

AAON declared that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 0.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

AAON has been the subject of a number of research reports. Sidoti upgraded AAON from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Monday. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Friday, February 28th. DA Davidson reduced their price target on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Wall Street Zen downgraded AAON from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Robert W. Baird cut their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AAON currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.50.

Insider Buying and Selling

In related news, CEO Gary D. Fields sold 37,189 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the sale, the chief executive officer now owns 63,714 shares of the company’s stock, valued at $6,256,714.80. This trade represents a 36.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gordon Douglas Wichman sold 3,975 shares of AAON stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $105.75, for a total value of $420,356.25. Following the completion of the sale, the director now owns 8,754 shares of the company’s stock, valued at approximately $925,735.50. The trade was a 31.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,823 shares of company stock valued at $7,122,451 over the last quarter. Insiders own 18.70% of the company’s stock.

AAON 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.