AAON, Inc. (NASDAQ:AAON) Sees Significant Growth in Short Interest

AAON, Inc. (NASDAQ:AAON) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,780,000 shares, a growth of 14.9% from the March 31st total of 2,420,000 shares. Based on an average daily trading volume, of 437,300 shares, the days-to-cover ratio is presently 6.4 days.

Analyst Upgrades and Downgrades

Separately, William Blair initiated coverage on shares of AAON in a research note on Monday. They issued an “outperform” rating on the stock.

AAON Price Performance

Shares of NASDAQ AAON opened at $94.09 on Wednesday. The firm has a market capitalization of $7.72 billion, a P/E ratio of 44.10 and a beta of 0.91. AAON has a one year low of $52.24 and a one year high of $96.34. The company’s fifty day moving average is $85.91 and its two-hundred day moving average is $73.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 3.23.

AAON (NASDAQ:AAON) last issued its earnings results on Wednesday, February 28th. The construction company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. The company had revenue of $306.60 million for the quarter, compared to analyst estimates of $294.35 million. AAON had a net margin of 15.20% and a return on equity of 27.20%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. Analysts forecast that AAON will post 2.29 EPS for the current fiscal year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. AAON’s dividend payout ratio is presently 15.00%.

Insider Transactions at AAON

In other news, Director Norman H. Asbjornson sold 805 shares of AAON stock in a transaction on Monday, March 11th. The shares were sold at an average price of $80.01, for a total value of $64,408.05. Following the transaction, the director now directly owns 53,093 shares of the company’s stock, valued at approximately $4,247,970.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Norman H. Asbjornson sold 805 shares of AAON stock in a transaction on Monday, March 11th. The shares were sold at an average price of $80.01, for a total value of $64,408.05. Following the transaction, the director now directly owns 53,093 shares of the company’s stock, valued at approximately $4,247,970.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Norman H. Asbjornson sold 19,136 shares of AAON stock in a transaction on Thursday, March 14th. The shares were 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 in the company, valued at $1,209,256.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,596 shares of company stock worth $3,613,768. 18.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AAON

Institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio lifted its holdings in AAON by 2.3% in the 4th quarter. Strs Ohio now owns 6,600 shares of the construction company’s stock valued at $487,000 after purchasing an additional 150 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of AAON by 35.6% during the 1st quarter. GAMMA Investing LLC now owns 690 shares of the construction company’s stock valued at $61,000 after acquiring an additional 181 shares during the last quarter. CI Investments Inc. increased its stake in shares of AAON by 50.9% during the 3rd quarter. CI Investments Inc. now owns 617 shares of the construction company’s stock valued at $35,000 after acquiring an additional 208 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of AAON by 53.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 701 shares of the construction company’s stock valued at $40,000 after acquiring an additional 244 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of AAON by 3.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,963 shares of the construction company’s stock valued at $514,000 after acquiring an additional 257 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

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.