Arizona State Retirement System Sells 180 Shares of AAON, Inc. (NASDAQ:AAON)

Arizona State Retirement System cut its stake in shares of AAON, Inc. (NASDAQ:AAON) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,784 shares of the construction company’s stock after selling 180 shares during the period. Arizona State Retirement System’s holdings in AAON were worth $1,546,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Rakuten Securities Inc. raised its stake in shares of AAON by 613.3% during the 1st quarter. Rakuten Securities Inc. now owns 321 shares of the construction company’s stock worth $25,000 after purchasing an additional 276 shares during the period. Versant Capital Management Inc raised its stake in shares of AAON by 652.3% during the 1st quarter. Versant Capital Management Inc now owns 331 shares of the construction company’s stock worth $26,000 after purchasing an additional 287 shares during the period. Quarry LP raised its stake in shares of AAON by 49.0% during the 4th quarter. Quarry LP now owns 313 shares of the construction company’s stock worth $37,000 after purchasing an additional 103 shares during the period. Whittier Trust Co. bought a new stake in shares of AAON during the 4th quarter worth $46,000. Finally, UMB Bank n.a. raised its stake in shares of AAON by 81.2% during the 1st quarter. UMB Bank n.a. now owns 589 shares of the construction company’s stock worth $46,000 after purchasing an additional 264 shares during the period. 70.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Gary D. Fields sold 8,357 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $98.66, for a total transaction of $824,501.62. Following the sale, the chief executive officer directly owned 26,491 shares in the company, valued at $2,613,602.06. This represents a 23.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gordon Douglas Wichman sold 21,302 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total value of $2,225,632.96. Following the sale, the director owned 8,754 shares in the company, valued at approximately $914,617.92. This represents a 70.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,823 shares of company stock worth $7,122,451. Company insiders own 18.70% of the company’s stock.

Wall Street Analysts Forecast Growth

AAON has been the topic of a number of recent analyst reports. Wall Street Zen cut AAON from a “hold” rating to a “sell” rating in a research note on Friday. Sidoti upgraded AAON from a “neutral” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Monday, June 16th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AAON presently has a consensus rating of “Moderate Buy” and an average price target of $111.50.

AAON Trading Down 1.0%

Shares of AAON opened at $78.69 on Friday. The business has a 50-day moving average of $85.25 and a 200 day moving average of $93.64. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07. The firm has a market cap of $6.40 billion, a P/E ratio of 41.42 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 2.77.

AAON (NASDAQ:AAON) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.13. AAON had a return on equity of 20.23% and a net margin of 12.60%. The company had revenue of $322.05 million during the quarter, compared to analyst estimates of $289.16 million. During the same quarter last year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, research analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, June 6th. AAON’s dividend payout ratio is presently 21.05%.

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.