GAMMA Investing LLC Increases Position in AAON, Inc. (NASDAQ:AAON)

GAMMA Investing LLC grew its stake in AAON, Inc. (NASDAQ:AAON) by 35.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 690 shares of the construction company’s stock after acquiring an additional 181 shares during the quarter. GAMMA Investing LLC’s holdings in AAON were worth $61,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. TFO Wealth Partners LLC purchased a new position in shares of AAON in the 4th quarter valued at $27,000. Operose Advisors LLC purchased a new position in AAON during the 3rd quarter worth $31,000. CI Investments Inc. grew its stake in 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 buying an additional 208 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in AAON during the 4th quarter worth $39,000. Finally, CVA Family Office LLC purchased a new position in AAON during the 4th quarter worth $83,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

AAON Stock Performance

AAON stock opened at $79.28 on Monday. The business’s 50-day simple moving average is $79.82 and its two-hundred day simple moving average is $78.69. The company has a market cap of $6.52 billion, a PE ratio of 36.93 and a beta of 0.80. AAON, Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $96.34.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, missing the consensus estimate 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 net margin of 15.44% and a return on equity of 25.84%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, analysts predict that AAON, Inc. will post 2.22 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.32 annualized dividend and a yield of 0.40%. AAON’s payout ratio is presently 14.91%.

Insider Buying and Selling at AAON

In other AAON news, CFO Rebecca Thompson sold 13,500 shares of the business’s 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 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 can be accessed through the SEC website. In other news, CEO Gary D. Fields sold 28,200 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 64,295 shares of the company’s stock, valued at approximately $4,894,778.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rebecca Thompson sold 13,500 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 17,297 shares in the company, valued at $1,331,869. The disclosure for this sale can be found here. Company insiders own 18.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AAON shares. StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a research note on Monday, June 17th. William Blair started coverage on AAON in a research note on Monday, April 29th. They set an “outperform” rating on the 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.