AAON, Inc. (NASDAQ:AAON) Sees Large Growth in Short Interest

AAON, Inc. (NASDAQ:AAON) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 4,040,000 shares, a growth of 30.3% from the May 31st total of 3,100,000 shares. Based on an average daily volume of 877,900 shares, the short-interest ratio is currently 4.6 days.

AAON Stock Up 0.7 %

AAON opened at $87.24 on Friday. The firm has a 50-day simple moving average of $79.64 and a two-hundred day simple moving average of $79.17. AAON has a 52 week low of $52.24 and a 52 week high of $96.34. The company has a market capitalization of $7.17 billion, a PE ratio of 40.64 and a beta of 0.80.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). The business 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 quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. As a group, sell-side analysts expect that AAON will post 2.24 earnings per share for the current year.

AAON Dividend Announcement

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

Insider Activity

In other news, CFO Rebecca Thompson sold 13,500 shares of AAON stock in a transaction that occurred on 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 transaction, 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 Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rebecca Thompson sold 13,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $77.00, for a total value of $1,039,500.00. Following the completion of the transaction, the chief financial officer now directly owns 17,297 shares in the company, valued at approximately $1,331,869. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary D. Fields sold 28,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was 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 disclosure for this sale can be found here. Company insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

Several hedge funds have recently made changes to their positions in AAON. Strs Ohio raised its position in AAON by 2.3% in the 4th quarter. Strs Ohio now owns 6,600 shares of the construction company’s stock worth $487,000 after purchasing an additional 150 shares during the period. GAMMA Investing LLC grew its stake in AAON by 35.6% in the 1st quarter. GAMMA Investing LLC now owns 690 shares of the construction company’s stock worth $61,000 after acquiring an additional 181 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in AAON by 3.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,963 shares of the construction company’s stock worth $514,000 after acquiring an additional 257 shares in the last quarter. TFO Wealth Partners LLC bought a new position in AAON in the 4th quarter worth about $27,000. Finally, Quadrant Capital Group LLC grew its stake in AAON by 11.5% in the 4th quarter. Quadrant Capital Group LLC now owns 3,920 shares of the construction company’s stock worth $290,000 after acquiring an additional 403 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in 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. DA Davidson reissued a “buy” rating and set a $102.00 price objective on shares of AAON in a research report on Wednesday. Finally, William Blair initiated coverage on shares of AAON in a research report on Monday, April 29th. They set an “outperform” rating for the company.

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.