Comerica Bank Grows Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Comerica Bank grew its holdings in AAON, Inc. (NASDAQ:AAON) by 16.6% in the 4th quarter, HoldingsChannel reports. The firm owned 340,660 shares of the construction company’s stock after buying an additional 48,539 shares during the quarter. Comerica Bank’s holdings in AAON were worth $25,165,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. TFO Wealth Partners LLC bought a new stake in shares of AAON in the 4th quarter valued at about $27,000. GAMMA Investing LLC bought a new position in shares of AAON during the 4th quarter worth approximately $36,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of AAON during the 4th quarter worth approximately $39,000. Operose Advisors LLC bought a new position in shares of AAON during the 3rd quarter worth approximately $31,000. Finally, CI Investments Inc. raised its stake in shares of AAON by 50.9% during the 3rd quarter. CI Investments Inc. now owns 617 shares of the construction company’s stock worth $35,000 after acquiring an additional 208 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

AAON Trading Up 1.9 %

Shares of AAON stock opened at $74.13 on Thursday. AAON, Inc. has a 12-month low of $52.24 and a 12-month high of $96.34. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 34.53 and a beta of 0.80. The firm’s 50 day simple moving average is $81.22 and its two-hundred day simple moving average is $77.81.

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

AAON Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, June 7th. AAON’s dividend payout ratio (DPR) is 14.91%.

Insider Activity

In related news, CFO Rebecca Thompson sold 13,500 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $77.00, for a total transaction of $1,039,500.00. Following the completion of the sale, the chief financial officer now directly owns 17,297 shares in the company, valued at $1,331,869. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other AAON news, CEO Gary D. Fields sold 28,200 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $76.13, for a total transaction of $2,146,866.00. Following the completion of the transaction, the chief executive officer now owns 64,295 shares of the company’s stock, valued at $4,894,778.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Rebecca Thompson sold 13,500 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $77.00, for a total transaction of $1,039,500.00. Following the transaction, the chief financial officer now directly owns 17,297 shares of the company’s stock, valued at approximately $1,331,869. The disclosure for this sale can be found here. Company insiders own 18.55% of the company’s stock.

Analyst Upgrades and Downgrades

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

AAON 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.