Arrowstreet Capital Limited Partnership Has $39.66 Million Holdings in AAON, Inc. (NASDAQ:AAON)

Arrowstreet Capital Limited Partnership increased its stake in AAON, Inc. (NASDAQ:AAON) by 18.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 337,003 shares of the construction company’s stock after purchasing an additional 52,004 shares during the period. Arrowstreet Capital Limited Partnership owned 0.41% of AAON worth $39,659,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of AAON by 28.4% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock worth $41,000 after buying an additional 84 shares during the period. Captrust Financial Advisors boosted its stake in AAON by 1.0% in the third quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock valued at $949,000 after acquiring an additional 89 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in AAON by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock worth $2,201,000 after acquiring an additional 100 shares during the period. HUB Investment Partners LLC raised its position in shares of AAON by 5.2% during the 4th quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock valued at $237,000 after acquiring an additional 100 shares during the last quarter. Finally, Conway Capital Management Inc. lifted its stake in shares of AAON by 4.0% in the 4th quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company’s stock valued at $306,000 after purchasing an additional 101 shares during the period. 70.81% of the stock is currently owned by institutional investors.

AAON Stock Performance

Shares of NASDAQ AAON opened at $82.72 on Thursday. The stock has a market capitalization of $6.75 billion, a PE ratio of 36.44 and a beta of 1.00. AAON, Inc. has a 52 week low of $69.52 and a 52 week high of $144.07. The stock has a 50 day moving average price of $96.56 and a 200 day moving average price of $112.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

AAON announced that its board has initiated a share buyback plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

AAON Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.48%. This is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, March 18th. AAON’s payout ratio is presently 19.90%.

Insiders Place Their Bets

In other news, Director David Raymond Stewart bought 1,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $80.86 per share, with a total value of $80,860.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 18.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Robert W. Baird decreased their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research report on Friday, February 28th. DA Davidson cut their price target on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AAON currently has an average rating of “Moderate Buy” and an average target price of $115.50.

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.