AAON, Inc. (NASDAQ:AAON) Declares Quarterly Dividend of $0.08

AAON, Inc. (NASDAQ:AAON) announced a quarterly dividend on Friday, May 24th, Zacks reports. Investors of record on Friday, June 7th will be given a dividend of 0.08 per share by the construction company on Friday, June 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, June 7th.

AAON has increased its dividend by an average of 8.1% annually over the last three years. AAON has a dividend payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AAON to earn $2.70 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 11.9%.

AAON Stock Performance

Shares of NASDAQ AAON traded up $2.00 during mid-day trading on Friday, hitting $78.26. 671,109 shares of the stock traded hands, compared to its average volume of 1,517,260. AAON has a 52 week low of $52.24 and a 52 week high of $96.34. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 36.46 and a beta of 0.88. The stock has a fifty day moving average price of $84.39 and a 200-day moving average price of $76.57.

AAON (NASDAQ:AAON) last released its earnings results on Thursday, May 2nd. The construction company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). AAON had a return on equity of 25.84% and a net margin of 15.44%. The company had revenue of $262.10 million during the quarter, compared to the consensus estimate of $284.76 million. During the same period last year, the firm posted $0.45 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that AAON will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, William Blair started coverage on AAON in a research note on Monday, April 29th. They issued an “outperform” rating for the company.

Insider Transactions at AAON

In related news, CEO Gary D. Fields sold 28,200 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $76.13, for a total transaction of $2,146,866.00. Following the completion of the sale, the chief executive officer now owns 64,295 shares in the company, valued at $4,894,778.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Norman H. Asbjornson sold 805 shares of the firm’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 completion of the sale, the director now directly 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary D. Fields sold 28,200 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $76.13, for a total value of $2,146,866.00. Following the completion of the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $4,894,778.35. The disclosure for this sale can be found here. Insiders sold 86,296 shares of company stock worth $6,800,134 over the last quarter. 18.55% of the stock is currently owned by insiders.

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.