AAON, Inc. (AAON) to Issue Quarterly Dividend of $0.08 on March 29th

AAON, Inc. (NASDAQ:AAONGet Free Report) declared a quarterly dividend on Friday, March 1st, Zacks reports. Shareholders of record on Monday, March 18th will be given a dividend of 0.08 per share by the construction company on Friday, March 29th. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, March 15th.

AAON has increased its dividend by an average of 8.1% annually over the last three years. AAON has a dividend payout ratio of 5.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect AAON to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 6.0%.

AAON Price Performance

Shares of NASDAQ:AAON opened at $79.99 on Wednesday. The company has a 50-day simple moving average of $76.86 and a 200-day simple moving average of $67.24. AAON has a one year low of $52.24 and a one year high of $88.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 3.23. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 37.50 and a beta of 0.92.

AAON (NASDAQ:AAONGet Free Report) last announced its earnings results on Wednesday, February 28th. The construction company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. AAON had a net margin of 15.20% and a return on equity of 27.20%. The business had revenue of $306.60 million during the quarter, compared to analysts’ expectations of $294.35 million. During the same period in the prior year, the company earned $0.47 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. On average, analysts predict that AAON will post 2.29 EPS for the current year.

Insider Activity

In other news, COO Stephen E. Wakefield sold 30,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $71.88, for a total value of $2,156,400.00. Following the completion of the sale, the chief operating officer now directly owns 13,473 shares of the company’s stock, valued at $968,439.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Stephen E. Wakefield sold 30,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $71.88, for a total transaction of $2,156,400.00. Following the completion of the transaction, the chief operating officer now directly owns 13,473 shares of the company’s stock, valued at $968,439.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stephen E. Wakefield sold 15,000 shares of the stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $74.00, for a total transaction of $1,110,000.00. Following the transaction, the chief operating officer now directly owns 13,473 shares of the company’s stock, valued at $997,002. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,064 shares of company stock valued at $4,572,247. Insiders own 19.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in AAON by 0.4% in the first quarter. BlackRock Inc. now owns 6,321,522 shares of the construction company’s stock valued at $352,300,000 after buying an additional 22,951 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AAON by 1.2% in the third quarter. Vanguard Group Inc. now owns 4,578,876 shares of the construction company’s stock valued at $246,709,000 after purchasing an additional 56,148 shares during the last quarter. Morgan Stanley grew its position in shares of AAON by 38.2% in the third quarter. Morgan Stanley now owns 2,064,626 shares of the construction company’s stock valued at $117,415,000 after purchasing an additional 571,127 shares during the last quarter. State Street Corp grew its position in shares of AAON by 3.4% in the second quarter. State Street Corp now owns 1,482,024 shares of the construction company’s stock valued at $140,511,000 after purchasing an additional 48,058 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of AAON by 48.5% in the third quarter. JPMorgan Chase & Co. now owns 1,318,384 shares of the construction company’s stock valued at $74,976,000 after purchasing an additional 430,542 shares during the last quarter. 47.89% of the stock is owned by hedge funds and other institutional investors.

AAON Company Profile

(Get Free Report)

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.

See Also

Dividend History for AAON (NASDAQ:AAON)

Receive News & Ratings for AAON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AAON and related companies with MarketBeat.com's FREE daily email newsletter.