435,788 Shares in AAON, Inc. $AAON Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new stake in AAON, Inc. (NASDAQ:AAON) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 435,788 shares of the construction company’s stock, valued at approximately $55,284,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SummitTX Capital L.P. increased its holdings in shares of AAON by 1.7% during the first quarter. SummitTX Capital L.P. now owns 4,622 shares of the construction company’s stock worth $382,000 after buying an additional 76 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of AAON by 1.7% during the fourth quarter. Toronto Dominion Bank now owns 5,889 shares of the construction company’s stock worth $448,000 after purchasing an additional 99 shares during the last quarter. Huntington National Bank grew its holdings in shares of AAON by 21.1% during the fourth quarter. Huntington National Bank now owns 689 shares of the construction company’s stock worth $53,000 after purchasing an additional 120 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of AAON by 96.5% in the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after buying an additional 164 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in AAON by 20.8% in the 4th quarter. Hantz Financial Services Inc. now owns 1,052 shares of the construction company’s stock valued at $80,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Stock Performance

Shares of AAON stock opened at $79.78 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.01. AAON, Inc. has a one year low of $73.19 and a one year high of $150.46. The business has a 50-day simple moving average of $103.16 and a 200 day simple moving average of $105.00. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 1.44 and a beta of 1.45.

AAON (NASDAQ:AAON) last issued its earnings results on Monday, August 10th. The construction company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.18. AAON had a return on equity of 17.32% and a net margin of 8.24%.The company had revenue of $626.98 million for the quarter, compared to analysts’ expectations of $508.82 million. During the same period last year, the business earned $0.22 EPS. AAON’s quarterly revenue was up 101.2% compared to the same quarter last year. On average, research analysts anticipate that AAON, Inc. will post 2.3 earnings per share for the current fiscal year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. AAON’s payout ratio is presently 20.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Zacks Research lowered shares of AAON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. KeyCorp reissued a “sector weight” rating on shares of AAON in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AAON in a research report on Tuesday, July 14th. Robert W. Baird reduced their price target on AAON from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Finally, Oppenheimer lowered their price target on shares of AAON from $145.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.67.

Insider Buying and Selling at AAON

In other news, CAO Rebecca Thompson sold 4,230 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $143.42, for a total value of $606,666.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary D. Fields sold 19,000 shares of AAON stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.20, for a total transaction of $2,663,800.00. Following the transaction, the director directly owned 15,252 shares in the company, valued at approximately $2,138,330.40. This represents a 55.47% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 18.09% of the company’s stock.

AAON Company Profile

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.