Maryland State Retirement & Pension System Cuts Stock Position in AAON, Inc. (NASDAQ:AAON)

Maryland State Retirement & Pension System trimmed its position in shares of AAON, Inc. (NASDAQ:AAON) by 0.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,299 shares of the construction company’s stock after selling 209 shares during the period. Maryland State Retirement & Pension System’s holdings in AAON were worth $2,093,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of AAON by 57.2% during the third quarter. Vanguard Group Inc. now owns 7,489,640 shares of the construction company’s stock worth $425,936,000 after buying an additional 2,725,779 shares during the period. Conestoga Capital Advisors LLC increased its stake in shares of AAON by 0.8% during the fourth quarter. Conestoga Capital Advisors LLC now owns 3,354,242 shares of the construction company’s stock worth $247,778,000 after buying an additional 25,178 shares during the period. Geneva Capital Management LLC increased its stake in shares of AAON by 0.8% during the fourth quarter. Geneva Capital Management LLC now owns 1,702,641 shares of the construction company’s stock worth $125,774,000 after buying an additional 13,864 shares during the period. Ameriprise Financial Inc. increased its stake in shares of AAON by 111.8% during the third quarter. Ameriprise Financial Inc. now owns 1,606,506 shares of the construction company’s stock worth $91,361,000 after buying an additional 847,953 shares during the period. Finally, Wasatch Advisors LP increased its stake in shares of AAON by 5.0% during the fourth quarter. Wasatch Advisors LP now owns 1,024,860 shares of the construction company’s stock worth $75,706,000 after buying an additional 49,007 shares during the period. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

AAON has been the topic of a number of recent research reports. William Blair initiated coverage on shares of AAON in a research note on Monday, April 29th. They set an “outperform” rating on the stock. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a research note on Monday, June 17th. Finally, DA Davidson reiterated a “buy” rating and issued a $102.00 price target on shares of AAON in a research note on Wednesday, June 26th.

AAON Stock Performance

AAON stock traded down $0.06 during midday trading on Friday, reaching $86.02. The company’s stock had a trading volume of 57,334 shares, compared to its average volume of 732,005. AAON, Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $96.34. The firm has a market capitalization of $7.07 billion, a PE ratio of 40.10 and a beta of 0.80. The stock’s 50 day simple moving average is $79.38 and its 200 day simple moving average is $79.63.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). AAON had a net margin of 15.44% and a return on equity of 25.84%. The firm had revenue of $262.10 million during the quarter, compared to analysts’ expectations of $284.76 million. During the same quarter in the prior year, the business earned $0.45 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts predict that AAON, Inc. will post 2.24 earnings per share for the current year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend was Friday, June 7th. AAON’s dividend payout ratio is currently 14.91%.

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.