Bahl & Gaynor Inc. Raises Stake in AAON, Inc. (NASDAQ:AAON)
Bahl & Gaynor Inc. increased its stake in AAON, Inc. (NASDAQ:AAON) by 1.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 32,964 shares of the construction company’s stock after buying an additional 387 shares during the period. Bahl & Gaynor Inc.’s holdings in AAON were worth $1,592,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. OmniStar Financial Group Inc. acquired a new position in shares of AAON during the first quarter valued at $25,000. Mutual of America Capital Management LLC raised its holdings in AAON by 24.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 1,779 shares of the construction company’s stock worth $86,000 after buying an additional 349 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of AAON by 11.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the construction company’s stock valued at $108,000 after purchasing an additional 226 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of AAON in the 1st quarter valued at about $110,000. Finally, Advisor Group Holdings Inc. bought a new stake in shares of AAON in the 1st quarter valued at approximately $115,000. 69.73% of the stock is currently owned by hedge funds and other institutional investors.
In other AAON news, VP Mikel D. Crews sold 29,216 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $55.01, for a total transaction of $1,607,172.16. Following the transaction, the vice president now owns 46,730 shares in the company, valued at approximately $2,570,617.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Rony D. Gadiwalla sold 918 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $58.23, for a total transaction of $53,455.14. Following the transaction, the vice president now owns 28,851 shares in the company, valued at approximately $1,679,993.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,164 shares of company stock worth $8,239,514. 22.41% of the stock is owned by company insiders.
AAON (NASDAQ:AAON) last issued its earnings results on Thursday, May 7th. The construction company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.06. The company had revenue of $137.48 million for the quarter, compared to analysts’ expectations of $125.08 million. AAON had a net margin of 13.37% and a return on equity of 23.12%. AAON’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 EPS. Research analysts anticipate that AAON, Inc. will post 1.31 earnings per share for the current year.
The business also recently declared a semi-annual dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 3rd will be paid a $0.19 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a yield of 0.7%. This is a positive change from AAON’s previous semi-annual dividend of $0.16. AAON’s dividend payout ratio is 37.25%.
Several equities research analysts have recently weighed in on AAON shares. Zacks Investment Research cut AAON from a “hold” rating to a “sell” rating in a research report on Friday, June 5th. BidaskClub lowered AAON from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 12th. TheStreet upgraded shares of AAON from a “c” rating to a “b-” rating in a research note on Wednesday, March 11th. DA Davidson reissued an “underperform” rating on shares of AAON in a report on Friday, May 8th. Finally, ValuEngine lowered shares of AAON from a “buy” rating to a “hold” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $63.00.
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. It offers rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, self-contained units, and coils.
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