U.S. Capital Wealth Advisors LLC Buys New Shares in AAON, Inc. (NASDAQ:AAON)

U.S. Capital Wealth Advisors LLC bought a new stake in AAON, Inc. (NASDAQ:AAON) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 25,133 shares of the construction company’s stock, valued at approximately $1,964,000.

Several other hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in shares of AAON by 39.7% in the first quarter. Bank of New York Mellon Corp now owns 1,101,692 shares of the construction company’s stock valued at $86,075,000 after buying an additional 312,855 shares during the period. Impax Asset Management Group plc bought a new stake in shares of AAON in the first quarter valued at about $36,223,000. Teacher Retirement System of Texas bought a new stake in shares of AAON in the first quarter valued at about $789,000. WCM Investment Management LLC bought a new position in AAON during the first quarter worth about $15,339,000. Finally, Peregrine Capital Management LLC lifted its stake in AAON by 71.6% during the first quarter. Peregrine Capital Management LLC now owns 124,292 shares of the construction company’s stock worth $9,711,000 after purchasing an additional 51,857 shares during the period. Institutional investors own 70.81% of the company’s stock.

AAON Stock Performance

NASDAQ:AAON opened at $75.34 on Wednesday. AAON, Inc. has a 1 year low of $68.98 and a 1 year high of $144.07. The firm has a 50 day moving average of $88.54 and a 200-day moving average of $95.93. The company has a current ratio of 2.77, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $6.13 billion, a P/E ratio of 39.65 and a beta of 0.95.

AAON (NASDAQ:AAON) last posted its earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. The company had revenue of $322.05 million during the quarter, compared to analysts’ expectations of $289.16 million. AAON had a net margin of 12.60% and a return on equity of 20.23%. AAON’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 earnings per share. As a group, sell-side analysts anticipate that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, June 6th. AAON’s dividend payout ratio is currently 21.05%.

Insider Buying and Selling

In related news, CEO Gary D. Fields sold 8,357 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $98.66, for a total value of $824,501.62. Following the completion of the sale, the chief executive officer owned 26,491 shares of the company’s stock, valued at $2,613,602.06. This trade represents a 23.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gordon Douglas Wichman sold 21,302 shares of AAON stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the sale, the director directly owned 8,754 shares of the company’s stock, valued at $914,617.92. This represents a 70.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,823 shares of company stock valued at $7,122,451. 18.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on AAON shares. Sidoti upgraded shares of AAON from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Monday, June 16th. Wall Street Zen upgraded shares of AAON from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AAON has an average rating of “Buy” and a consensus price target of $111.50.

AAON 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.