Greenwood Capital Associates LLC Cuts Stock Holdings in AAON, Inc. $AAON

Greenwood Capital Associates LLC lowered its stake in AAON, Inc. (NASDAQ:AAON) by 15.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,837 shares of the construction company’s stock after selling 1,048 shares during the quarter. Greenwood Capital Associates LLC’s holdings in AAON were worth $430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its holdings in AAON by 613.3% in the first quarter. Rakuten Securities Inc. now owns 321 shares of the construction company’s stock worth $25,000 after purchasing an additional 276 shares during the last quarter. Versant Capital Management Inc boosted its holdings in AAON by 652.3% in the first quarter. Versant Capital Management Inc now owns 331 shares of the construction company’s stock worth $26,000 after purchasing an additional 287 shares during the last quarter. UMB Bank n.a. boosted its holdings in AAON by 81.2% in the first quarter. UMB Bank n.a. now owns 589 shares of the construction company’s stock worth $46,000 after purchasing an additional 264 shares during the last quarter. Parallel Advisors LLC boosted its holdings in AAON by 26.3% in the first quarter. Parallel Advisors LLC now owns 716 shares of the construction company’s stock worth $56,000 after purchasing an additional 149 shares during the last quarter. Finally, CWM LLC boosted its holdings in AAON by 25.7% in the first quarter. CWM LLC now owns 938 shares of the construction company’s stock worth $73,000 after purchasing an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

AAON Trading Down 0.0%

Shares of AAON stock opened at $98.32 on Friday. AAON, Inc. has a 52-week low of $62.00 and a 52-week high of $144.07. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.99 and a current ratio of 3.10. The firm has a market capitalization of $8.02 billion, a PE ratio of 66.88 and a beta of 1.05. The stock has a fifty day simple moving average of $84.75 and a two-hundred day simple moving average of $84.57.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Monday, August 11th. The construction company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.09). AAON had a return on equity of 15.45% and a net margin of 9.70%.The business had revenue of $311.57 million during the quarter, compared to analysts’ expectations of $326.15 million. During the same quarter in the previous year, the company posted $0.62 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 5th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, September 5th. AAON’s payout ratio is currently 27.21%.

Wall Street Analyst Weigh In

AAON has been the topic of several research reports. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of AAON in a report on Tuesday. Sidoti upgraded shares of AAON from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Monday, June 16th. Wall Street Zen downgraded shares of AAON from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 17th. DA Davidson decreased their price target on shares of AAON from $125.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AAON in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $102.60.

Insiders Place Their Bets

In other AAON news, CFO Rebecca Thompson sold 9,350 shares of AAON stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total value of $758,191.50. Following the sale, the chief financial officer directly owned 24,396 shares in the company, valued at approximately $1,978,271.64. The trade was a 27.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Douglas Eason sold 12,003 shares of AAON stock in a transaction on Monday, August 25th. The shares were sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the sale, the insider owned 5,301 shares in the company, valued at approximately $451,009.08. This represents a 69.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.70% 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.