Commerzbank Aktiengesellschaft FI Buys 393 Shares of AAON, Inc. (NASDAQ:AAON)

Commerzbank Aktiengesellschaft FI boosted its position in AAON, Inc. (NASDAQ:AAON) by 47.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,217 shares of the construction company’s stock after buying an additional 393 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in AAON were worth $143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC bought a new stake in AAON during the 3rd quarter valued at $251,000. New York State Teachers Retirement System grew its holdings in shares of AAON by 1.0% during the third quarter. New York State Teachers Retirement System now owns 19,312 shares of the construction company’s stock valued at $2,083,000 after buying an additional 200 shares during the last quarter. Van ECK Associates Corp increased its position in shares of AAON by 40.0% during the third quarter. Van ECK Associates Corp now owns 49,111 shares of the construction company’s stock worth $5,249,000 after acquiring an additional 14,033 shares in the last quarter. Malaga Cove Capital LLC acquired a new stake in shares of AAON in the 3rd quarter worth about $207,000. Finally, Ascent Wealth Partners LLC lifted its position in AAON by 78.3% in the 3rd quarter. Ascent Wealth Partners LLC now owns 29,768 shares of the construction company’s stock valued at $3,209,000 after acquiring an additional 13,076 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

AAON Stock Performance

Shares of AAON opened at $81.25 on Friday. The stock has a 50 day moving average of $113.90 and a 200 day moving average of $113.94. 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, Inc. has a 12 month low of $69.52 and a 12 month high of $144.07. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 35.79 and a beta of 0.87.

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. This is a boost from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, March 18th. AAON’s payout ratio is presently 15.92%.

AAON declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 4th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AAON. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Friday, February 28th. 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. StockNews.com cut AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, Robert W. Baird reduced their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Buying and Selling

In related news, VP Stephen E. Wakefield sold 5,362 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $130.99, for a total value of $702,368.38. Following the transaction, the vice president now owns 4,558 shares in the company, valued at approximately $597,052.42. This represents a 54.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 18.55% of the stock is owned by insiders.

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.