Norden Group LLC Trims Stake in AAON, Inc. (NASDAQ:AAON)

Norden Group LLC cut its stake in shares of AAON, Inc. (NASDAQ:AAON) by 14.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,297 shares of the construction company’s stock after selling 1,917 shares during the quarter. Norden Group LLC’s holdings in AAON were worth $835,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of AAON. Van ECK Associates Corp boosted its position in shares of AAON by 45.2% in the fourth quarter. Van ECK Associates Corp now owns 20,586 shares of the construction company’s stock worth $1,521,000 after purchasing an additional 6,409 shares during the period. Intellectus Partners LLC purchased a new position in shares of AAON during the 4th quarter valued at $255,000. Russell Investments Group Ltd. boosted its holdings in AAON by 3.4% in the 4th quarter. Russell Investments Group Ltd. now owns 34,729 shares of the construction company’s stock worth $2,565,000 after buying an additional 1,129 shares during the period. Bahl & Gaynor Inc. increased its stake in AAON by 2.4% in the 4th quarter. Bahl & Gaynor Inc. now owns 64,481 shares of the construction company’s stock worth $4,763,000 after buying an additional 1,507 shares in the last quarter. Finally, Semanteon Capital Management LP bought a new stake in AAON during the fourth quarter valued at about $292,000. Institutional investors own 70.81% of the company’s stock.

Analyst Ratings Changes

Separately, William Blair began coverage on AAON in a research report on Monday. They set an “outperform” rating for the company.

AAON Price Performance

Shares of AAON stock traded up $0.11 on Tuesday, hitting $93.96. 478,124 shares of the company traded hands, compared to its average volume of 424,286. AAON, Inc. has a 52 week low of $52.24 and a 52 week high of $96.34. The business has a 50-day simple moving average of $85.66 and a 200 day simple moving average of $73.66. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 3.23. The stock has a market capitalization of $7.71 billion, a P/E ratio of 43.99 and a beta of 0.91.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The company had revenue of $306.60 million for the quarter, compared to the consensus estimate of $294.35 million. AAON had a net margin of 15.20% and a return on equity of 27.20%. AAON’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. Research analysts expect that AAON, Inc. will post 2.29 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. AAON’s dividend payout ratio is currently 15.00%.

Insider Activity at AAON

In other AAON news, Director Norman H. Asbjornson sold 805 shares of AAON stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $80.01, for a total value of $64,408.05. Following the sale, the director now owns 53,093 shares of the company’s stock, valued at approximately $4,247,970.93. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Norman H. Asbjornson sold 19,136 shares of AAON stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $81.30, for a total value of $1,555,756.80. Following the completion of the transaction, the director now owns 14,874 shares in the company, valued at $1,209,256.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Norman H. Asbjornson sold 805 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $80.01, for a total value of $64,408.05. Following the sale, the director now directly owns 53,093 shares in the company, valued at $4,247,970.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,596 shares of company stock valued at $3,613,768. Insiders own 18.55% of the company’s stock.

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. 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.