Riverbridge Partners LLC Has $25.02 Million Holdings in AAON, Inc. $AAON

Riverbridge Partners LLC cut its position in shares of AAON, Inc. (NASDAQ:AAON) by 14.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,369 shares of the construction company’s stock after selling 52,001 shares during the period. Riverbridge Partners LLC owned 0.37% of AAON worth $25,021,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AAON. Wellington Management Group LLP increased its holdings in AAON by 512.5% in the third quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company’s stock worth $442,896,000 after buying an additional 3,966,088 shares during the last quarter. Franklin Resources Inc. lifted its stake in AAON by 8,956.4% in the fourth quarter. Franklin Resources Inc. now owns 1,222,706 shares of the construction company’s stock valued at $93,231,000 after acquiring an additional 1,209,205 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in AAON by 96.4% in the third quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company’s stock valued at $216,811,000 after acquiring an additional 1,138,658 shares during the last quarter. First Trust Advisors LP grew its position in AAON by 136.4% in the third quarter. First Trust Advisors LP now owns 1,933,595 shares of the construction company’s stock worth $180,675,000 after acquiring an additional 1,115,566 shares in the last quarter. Finally, Bamco Inc. NY bought a new stake in AAON in the third quarter worth approximately $67,922,000. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Casey Kidwell sold 3,153 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $138.30, for a total value of $436,059.90. Following the sale, the insider directly owned 13,463 shares of the company’s stock, valued at approximately $1,861,932.90. This trade represents a 18.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary D. Fields sold 31,271 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total value of $4,192,502.97. Following the completion of the sale, the director directly owned 34,252 shares in the company, valued at approximately $4,592,165.64. This represents a 47.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 150,473 shares of company stock valued at $19,516,213. 18.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AAON has been the topic of a number of recent research reports. Oppenheimer restated an “outperform” rating on shares of AAON in a report on Friday, May 8th. Zacks Research upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Finally, William Blair reissued an “outperform” rating on shares of AAON in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $112.00.

AAON Stock Down 4.9%

AAON opened at $129.45 on Wednesday. The business has a 50 day moving average price of $122.06 and a 200 day moving average price of $99.77. AAON, Inc. has a twelve month low of $62.00 and a twelve month high of $150.46. 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 firm has a market cap of $10.60 billion, a P/E ratio of 90.52, a price-to-earnings-growth ratio of 3.81 and a beta of 1.39.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 EPS 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 for the quarter, compared to the consensus estimate of $381.08 million. During the same quarter last year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 54.3% compared to the same quarter last year. Research analysts forecast that AAON, Inc. will post 2.23 EPS for the current year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $0.10 dividend. The ex-dividend date is Friday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. AAON’s dividend payout ratio (DPR) is presently 27.97%.

AAON Profile

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.