Twinbeech Capital LP Makes New $3.69 Million Investment in AAON, Inc. (NASDAQ:AAON)

Twinbeech Capital LP purchased a new position in AAON, Inc. (NASDAQ:AAON) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 31,366 shares of the construction company’s stock, valued at approximately $3,691,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tidal Investments LLC boosted its holdings in AAON by 934.8% in the 4th quarter. Tidal Investments LLC now owns 140,054 shares of the construction company’s stock worth $16,482,000 after acquiring an additional 126,520 shares during the period. State of Wyoming boosted its holdings in AAON by 60.8% in the 4th quarter. State of Wyoming now owns 5,240 shares of the construction company’s stock worth $617,000 after acquiring an additional 1,982 shares during the period. ProShare Advisors LLC raised its position in shares of AAON by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 3,156 shares of the construction company’s stock valued at $371,000 after purchasing an additional 225 shares in the last quarter. Malaga Cove Capital LLC raised its position in shares of AAON by 89.0% in the 4th quarter. Malaga Cove Capital LLC now owns 3,629 shares of the construction company’s stock valued at $427,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of AAON in the 4th quarter valued at approximately $1,053,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Activity at AAON

In related news, Director David Raymond Stewart bought 1,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $80.86 per share, with a total value of $80,860.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $242,580. This represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gary D. Fields sold 37,189 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total value of $3,651,959.80. Following the completion of the sale, the chief executive officer now directly owns 63,714 shares in the company, valued at $6,256,714.80. This represents a 36.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.55% of the company’s stock.

AAON Stock Performance

AAON stock opened at $104.53 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The firm has a market cap of $8.51 billion, a P/E ratio of 46.05 and a beta of 1.06. AAON, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07. The stock’s 50 day simple moving average is $87.07 and its 200 day simple moving average is $107.65.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.13. The business had revenue of $322.05 million for the quarter, compared to analyst estimates of $289.16 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The business’s revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. As a group, equities research analysts predict that AAON, Inc. will post 2.26 EPS for the current year.

AAON announced that its Board of Directors has authorized a stock buyback program on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, June 6th. AAON’s dividend payout ratio is currently 21.05%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. DA Davidson cut their target price on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Friday, February 28th. StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Finally, Robert W. Baird cut their target price on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

About AAON

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.