Vaughan Nelson Investment Management L.P. Lowers Stake in AAON, Inc. (NASDAQ:AAON)

Vaughan Nelson Investment Management L.P. lessened its stake in shares of AAON, Inc. (NASDAQ:AAON) by 42.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 699,720 shares of the construction company’s stock after selling 525,880 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.86% of AAON worth $82,343,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in AAON by 5,040.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company’s stock valued at $284,000 after purchasing an additional 2,369 shares during the period. SG Americas Securities LLC boosted its stake in AAON by 691.1% during the fourth quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company’s stock valued at $2,903,000 after buying an additional 21,548 shares during the last quarter. Lord Abbett & CO. LLC increased its position in AAON by 39.1% in the third quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company’s stock worth $31,121,000 after purchasing an additional 81,111 shares during the last quarter. Wolverine Trading LLC bought a new position in shares of AAON in the 3rd quarter valued at about $471,000. Finally, Caldwell Investment Management Ltd. purchased a new stake in AAON during the fourth quarter valued at approximately $1,099,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

AAON Stock Performance

AAON stock opened at $112.77 on Friday. 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 1-year low of $70.28 and a 1-year high of $144.07. The business has a 50-day moving average price of $124.39 and a 200 day moving average price of $112.08. The company has a market capitalization of $9.17 billion, a P/E ratio of 49.68 and a beta of 0.87.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. AAON had a net margin of 15.78% and a return on equity of 24.98%. The business had revenue of $327.25 million during the quarter, compared to analyst estimates of $315.80 million. During the same quarter in the previous year, the business posted $0.64 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 29th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, November 29th. AAON’s dividend payout ratio (DPR) is 14.10%.

Analyst Ratings Changes

Several research firms recently weighed in on AAON. DA Davidson increased their price target on AAON from $102.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Robert W. Baird raised their price objective on shares of AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Sidoti downgraded AAON from a “buy” rating to a “neutral” rating and upped their price objective for the company from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.00.

Insiders Place Their Bets

In related news, VP Casey Kidwell sold 4,796 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total transaction of $654,078.48. Following the completion of the transaction, the vice president now owns 4,953 shares in the company, valued at $675,490.14. The trade was a 49.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Stephen E. Wakefield sold 5,362 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $130.99, for a total transaction of $702,368.38. Following the completion of the sale, the vice president now owns 4,558 shares of the company’s stock, valued at approximately $597,052.42. This trade represents a 54.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,329 shares of company stock worth $7,663,726 over the last 90 days. Company 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.