AAON, Inc. (NASDAQ:AAON) Stock Position Decreased by Ostrum Asset Management

Ostrum Asset Management cut its stake in shares of AAON, Inc. (NASDAQ:AAON) by 60.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,095 shares of the construction company’s stock after selling 6,215 shares during the period. Ostrum Asset Management’s holdings in AAON were worth $482,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Mather Group LLC. increased its stake in AAON by 521.6% in the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after purchasing an additional 193 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of AAON in the fourth quarter worth approximately $33,000. UMB Bank n.a. raised its holdings in shares of AAON by 67.5% during the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock valued at $38,000 after acquiring an additional 131 shares during the period. Westside Investment Management Inc. purchased a new stake in shares of AAON in the 3rd quarter valued at approximately $36,000. Finally, Empowered Funds LLC purchased a new stake in shares of AAON in the 4th quarter valued at approximately $42,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Performance

Shares of AAON stock opened at $82.46 on Monday. The firm has a market cap of $6.73 billion, a P/E ratio of 36.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07. The stock’s 50-day moving average is $86.24 and its two-hundred day moving average is $109.99.

AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.49%. The ex-dividend date was Tuesday, March 18th. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s dividend payout ratio (DPR) is presently 19.90%.

AAON announced that its board has initiated a stock repurchase program on Tuesday, March 4th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes the construction company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AAON shares. DA Davidson lowered their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating 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. Robert W. Baird decreased their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. Finally, CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Buying and Selling at AAON

In other AAON news, Director David Raymond Stewart bought 1,000 shares of the 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 $242,580. This represents a 50.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.55% 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.