Norden Group LLC Sells 1,917 Shares of AAON, Inc. (NASDAQ:AAON)

Norden Group LLC cut its stake in AAON, Inc. (NASDAQ:AAON) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,297 shares of the construction company’s stock after selling 1,917 shares during the period. Norden Group LLC’s holdings in AAON were worth $835,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in AAON by 57.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,489,640 shares of the construction company’s stock valued at $425,936,000 after purchasing an additional 2,725,779 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in AAON in the 4th quarter valued at $22,784,000. Conestoga Capital Advisors LLC raised its stake in shares of AAON by 0.8% in the 4th quarter. Conestoga Capital Advisors LLC now owns 3,354,242 shares of the construction company’s stock valued at $247,778,000 after buying an additional 25,178 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of AAON by 75.7% in the 3rd quarter. Lazard Asset Management LLC now owns 33,189 shares of the construction company’s stock valued at $1,887,000 after buying an additional 14,303 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of AAON by 49.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 89,210 shares of the construction company’s stock valued at $5,073,000 after buying an additional 29,704 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

AAON Price Performance

Shares of AAON stock traded up $0.11 during mid-day trading on Tuesday, reaching $93.96. The company’s stock had a trading volume of 478,124 shares, compared to its average volume of 424,286. The company has a market cap of $7.71 billion, a P/E ratio of 43.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 3.23. The firm’s 50-day moving average is $85.66 and its two-hundred day moving average is $73.66. AAON, Inc. has a 1-year low of $52.24 and a 1-year high of $96.34.

AAON (NASDAQ:AAON) last announced its earnings results on Wednesday, February 28th. The construction company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $306.60 million during the quarter, compared to analysts’ expectations of $294.35 million. AAON had a net margin of 15.20% and a return on equity of 27.20%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS. On average, research analysts predict that AAON, Inc. will post 2.29 earnings per share for the current year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Friday, March 15th. AAON’s dividend payout ratio (DPR) is currently 15.00%.

Insider Buying and Selling

In other AAON news, Director Norman H. Asbjornson sold 805 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $80.01, for a total value of $64,408.05. Following the completion of the sale, the director now owns 53,093 shares in the company, valued at approximately $4,247,970.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Stephen E. Wakefield sold 24,655 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $80.86, for a total value of $1,993,603.30. Following the transaction, the vice president now owns 15,992 shares of the company’s stock, valued at approximately $1,293,113.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Norman H. Asbjornson sold 805 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $80.01, for a total transaction of $64,408.05. Following the completion of the transaction, the director now directly owns 53,093 shares in the company, valued at approximately $4,247,970.93. The disclosure for this sale can be found here. Insiders sold 44,596 shares of company stock worth $3,613,768 in the last quarter. 18.55% of the stock is owned by corporate 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.