KLP Kapitalforvaltning AS Takes Position in AAON, Inc. (NASDAQ:AAON)

KLP Kapitalforvaltning AS bought a new position in shares of AAON, Inc. (NASDAQ:AAON) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,450 shares of the construction company’s stock, valued at approximately $1,700,000.

Several other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in shares of AAON by 28.4% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after acquiring an additional 84 shares during the period. Captrust Financial Advisors lifted its holdings in AAON by 1.0% during the 3rd quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock valued at $949,000 after purchasing an additional 89 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in AAON by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock valued at $2,201,000 after buying an additional 100 shares in the last quarter. HUB Investment Partners LLC grew its stake in AAON by 5.2% during the fourth quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock worth $237,000 after buying an additional 100 shares during the last quarter. Finally, Conway Capital Management Inc. increased its holdings in shares of AAON by 4.0% during the fourth quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company’s stock worth $306,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Trading Down 2.7 %

AAON stock opened at $78.08 on Friday. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON, Inc. has a twelve month low of $69.52 and a twelve month high of $144.07. The company has a market cap of $6.37 billion, a P/E ratio of 34.40 and a beta of 1.00. The business has a fifty day moving average of $99.75 and a 200-day moving average of $112.53.

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 18th. This is an increase from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. AAON’s dividend payout ratio is presently 19.90%.

AAON announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 4th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the construction company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

AAON has been the topic of a number of research analyst reports. 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 target price on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Friday, February 28th. Finally, DA Davidson decreased their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Activity

In other AAON news, Director David Raymond Stewart purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $80.86 per share, with a total value of $80,860.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. This represents a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 18.55% of the company’s stock.

AAON Company 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.