Madison Asset Management LLC Acquires New Stake in AAON, Inc. $AAON

Madison Asset Management LLC acquired a new stake in AAON, Inc. (NASDAQ:AAON) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 21,363 shares of the construction company’s stock, valued at approximately $1,629,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in AAON in the 4th quarter valued at $774,000. First National Advisers LLC purchased a new stake in shares of AAON during the 4th quarter worth $360,000. Sequoia Financial Advisors LLC boosted its position in shares of AAON by 40.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,906 shares of the construction company’s stock worth $298,000 after purchasing an additional 1,125 shares in the last quarter. Blalock Williams LLC boosted its position in shares of AAON by 16.9% during the 4th quarter. Blalock Williams LLC now owns 6,799 shares of the construction company’s stock worth $518,000 after purchasing an additional 984 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in shares of AAON by 5.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,776,013 shares of the construction company’s stock worth $135,421,000 after purchasing an additional 84,693 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AAON

In related news, CEO Matthew Joseph Tobolski sold 8,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total value of $1,082,960.00. Following the completion of the transaction, the chief executive officer owned 114,371 shares of the company’s stock, valued at approximately $15,482,402.27. The trade was a 6.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary D. Fields sold 19,081 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $137.60, for a total transaction of $2,625,545.60. Following the completion of the transaction, the director directly owned 34,252 shares of the company’s stock, valued at $4,713,075.20. The trade was a 35.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 105,142 shares of company stock valued at $12,887,348 over the last 90 days. 18.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on AAON. Oppenheimer restated an “outperform” rating on shares of AAON in a research report on Friday, May 8th. William Blair restated an “outperform” rating on shares of AAON in a research report on Monday, March 2nd. Wall Street Zen upgraded shares of AAON from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. DA Davidson restated a “buy” rating and set a $120.00 target price on shares of AAON in a research report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AAON in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $107.75.

AAON Price Performance

AAON stock opened at $140.00 on Friday. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $149.00. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $94.06 and its 200 day simple moving average is $92.11. The firm has a market capitalization of $11.47 billion, a PE ratio of 97.90, a P/E/G ratio of 3.79 and a beta of 1.24.

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

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Wednesday, March 18th were given a $0.10 dividend. The ex-dividend date was Wednesday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. AAON’s payout ratio is currently 27.97%.

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.