AAON, Inc. (NASDAQ:AAON) Short Interest Down 8.3% in March

AAON, Inc. (NASDAQ:AAON) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,420,000 shares, a drop of 8.3% from the March 15th total of 2,640,000 shares. Based on an average daily trading volume, of 416,900 shares, the days-to-cover ratio is currently 5.8 days.

AAON Price Performance

Shares of AAON opened at $87.14 on Tuesday. AAON has a twelve month low of $52.24 and a twelve month high of $93.30. The stock’s 50 day moving average is $84.05 and its two-hundred day moving average is $71.45. The firm has a market capitalization of $7.15 billion, a PE ratio of 40.85 and a beta of 0.91. The company has a current ratio of 3.23, a quick ratio of 1.54 and a debt-to-equity ratio of 0.05.

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

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Friday, March 15th. AAON’s dividend payout ratio is presently 15.00%.

Insider Buying and Selling

In related news, Director Norman H. Asbjornson sold 19,136 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $81.30, for a total transaction of $1,555,756.80. Following the transaction, the director now owns 14,874 shares of the company’s stock, valued at $1,209,256.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Stephen E. Wakefield sold 24,655 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $80.86, for a total transaction of $1,993,603.30. Following the transaction, the vice president now owns 15,992 shares of the company’s stock, valued at $1,293,113.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Norman H. Asbjornson sold 19,136 shares of AAON stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $81.30, for a total value of $1,555,756.80. Following the completion of the sale, the director now directly owns 14,874 shares in the company, valued at approximately $1,209,256.20. The disclosure for this sale can be found here. Insiders have sold a total of 44,596 shares of company stock valued at $3,613,768 over the last quarter. 19.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AAON

A number of institutional investors have recently added to or reduced their stakes in AAON. Vanguard Group Inc. lifted its position in shares of AAON by 57.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,489,640 shares of the construction company’s stock valued at $425,936,000 after acquiring an additional 2,725,779 shares during the period. BlackRock Inc. lifted its position in shares of AAON by 0.4% during the 1st quarter. BlackRock Inc. now owns 6,321,522 shares of the construction company’s stock valued at $352,300,000 after acquiring an additional 22,951 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of AAON by 46.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,385,306 shares of the construction company’s stock valued at $249,392,000 after acquiring an additional 1,380,751 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of AAON by 0.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 3,354,242 shares of the construction company’s stock valued at $247,778,000 after acquiring an additional 25,178 shares during the period. Finally, Morgan Stanley lifted its position in shares of AAON by 38.2% during the 3rd quarter. Morgan Stanley now owns 2,064,626 shares of the construction company’s stock valued at $117,415,000 after acquiring an additional 571,127 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

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.