Sterling Capital Management LLC Reduces Stock Position in AAON, Inc. $AAON

Sterling Capital Management LLC cut its position in AAON, Inc. (NASDAQ:AAON) by 44.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,485 shares of the construction company’s stock after selling 7,477 shares during the period. Sterling Capital Management LLC’s holdings in AAON were worth $785,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of AAON. Wasatch Advisors LP lifted its holdings in shares of AAON by 23.8% during the first quarter. Wasatch Advisors LP now owns 2,268,118 shares of the construction company’s stock worth $187,687,000 after purchasing an additional 436,704 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of AAON in the first quarter worth $1,622,000. Kestra Private Wealth Services LLC increased its stake in shares of AAON by 3.8% in the first quarter. Kestra Private Wealth Services LLC now owns 6,516 shares of the construction company’s stock worth $539,000 after acquiring an additional 236 shares during the period. Campbell Newman Asset Management Inc. raised its holdings in shares of AAON by 1.8% during the first quarter. Campbell Newman Asset Management Inc. now owns 21,246 shares of the construction company’s stock worth $1,758,000 after purchasing an additional 375 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in shares of AAON by 16.2% during the first quarter. Diversified Trust Co now owns 23,774 shares of the construction company’s stock worth $1,967,000 after purchasing an additional 3,308 shares during the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

AAON Stock Performance

Shares of NASDAQ AAON opened at $116.42 on Thursday. The company’s fifty day moving average price is $126.01 and its 200 day moving average price is $101.56. AAON, Inc. has a 1 year low of $62.00 and a 1 year high of $150.46. The company has a market capitalization of $9.54 billion, a PE ratio of 81.41, a price-to-earnings-growth ratio of 3.55 and a beta of 1.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.17. The company had revenue of $496.94 million during the quarter, compared to analysts’ expectations of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The firm’s revenue for the quarter was up 54.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. On average, research analysts predict that AAON, Inc. will post 2.23 earnings per share for the current year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, June 5th. AAON’s payout ratio is currently 27.97%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Oppenheimer reaffirmed an “outperform” rating on shares of AAON in a research report on Friday, May 8th. Zacks Research raised AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, AAON has an average rating of “Buy” and an average price target of $112.00.

Insiders Place Their Bets

In other news, insider Casey Kidwell sold 3,153 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $138.30, for a total value of $436,059.90. Following the completion of the sale, the insider directly owned 13,463 shares in the company, valued at $1,861,932.90. The trade was a 18.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary D. Fields sold 31,271 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $134.07, for a total value of $4,192,502.97. Following the transaction, the director directly owned 34,252 shares of the company’s stock, valued at approximately $4,592,165.64. The trade was a 47.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 150,473 shares of company stock worth $19,516,213. 18.09% of the stock is owned by company insiders.

About AAON

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.