Ranger Investment Management L.P. Invests $30.57 Million in AAON, Inc. $AAON

Ranger Investment Management L.P. acquired a new stake in AAON, Inc. (NASDAQ:AAON) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 241,003 shares of the construction company’s stock, valued at approximately $30,574,000. AAON makes up about 1.9% of Ranger Investment Management L.P.’s portfolio, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAON. Wellington Management Group LLP grew its stake in AAON by 512.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company’s stock worth $442,896,000 after purchasing an additional 3,966,088 shares in the last quarter. Franklin Resources Inc. raised its position in AAON by 8,956.4% in the 4th quarter. Franklin Resources Inc. now owns 1,222,706 shares of the construction company’s stock valued at $93,231,000 after purchasing an additional 1,209,205 shares in the last quarter. Norges Bank acquired a new stake in AAON in the 4th quarter valued at about $41,584,000. Wasatch Advisors LP boosted its stake in shares of AAON by 27.1% in the 3rd quarter. Wasatch Advisors LP now owns 2,138,959 shares of the construction company’s stock valued at $199,864,000 after buying an additional 456,560 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in shares of AAON in the 3rd quarter valued at about $41,333,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AAON. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a research report on Tuesday, July 14th. Zacks Research downgraded shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. KeyCorp reiterated a “sector weight” rating on shares of AAON in a report on Thursday, August 13th. Robert W. Baird dropped their price objective on shares of AAON from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Finally, Oppenheimer dropped their price objective on shares of AAON from $145.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, AAON has an average rating of “Moderate Buy” and an average price target of $126.67.

Insiders Place Their Bets

In other news, Director Gary D. Fields sold 19,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $140.20, for a total transaction of $2,663,800.00. Following the completion of the sale, the director owned 15,252 shares in the company, valued at approximately $2,138,330.40. The trade was a 55.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rebecca Thompson sold 4,230 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total transaction of $606,666.60. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 47,403 shares of company stock valued at $6,663,055. 18.09% of the stock is owned by corporate insiders.

AAON Stock Performance

NASDAQ:AAON opened at $79.44 on Monday. The stock has a 50-day simple moving average of $106.43 and a 200-day simple moving average of $105.35. The stock has a market cap of $6.55 billion, a P/E ratio of 41.38, a P/E/G ratio of 1.50 and a beta of 1.45. AAON, Inc. has a 1 year low of $73.19 and a 1 year high of $150.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.01 and a current ratio of 3.01.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Monday, August 10th. The construction company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.18. AAON had a return on equity of 17.32% and a net margin of 8.24%.The business had revenue of $626.98 million for the quarter, compared to the consensus estimate of $508.82 million. During the same quarter in the prior year, the business posted $0.22 EPS. The business’s revenue for the quarter was up 101.2% on a year-over-year basis. As a group, analysts anticipate that AAON, Inc. will post 2.3 earnings per share for the current fiscal year.

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. AAON’s dividend payout ratio (DPR) is presently 20.83%.

AAON Profile

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.