Kayne Anderson Rudnick Investment Management LLC Decreases Position in AAON, Inc. (NASDAQ:AAON)

Kayne Anderson Rudnick Investment Management LLC decreased its position in shares of AAON, Inc. (NASDAQ:AAON) by 10.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,571,432 shares of the construction company’s stock after selling 402,761 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 4.34% of AAON worth $311,572,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AAON. Sei Investments Co. boosted its stake in AAON by 14.6% during the 2nd quarter. Sei Investments Co. now owns 167,949 shares of the construction company’s stock valued at $14,652,000 after purchasing an additional 21,430 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of AAON by 755.9% during the second quarter. Pacer Advisors Inc. now owns 11,358 shares of the construction company’s stock valued at $991,000 after purchasing an additional 10,031 shares in the last quarter. Bridges Investment Management Inc. bought a new position in shares of AAON during the second quarter valued at $891,000. Resolute Capital Asset Partners LLC purchased a new stake in shares of AAON during the second quarter valued at $2,617,000. Finally, Blair William & Co. IL bought a new stake in AAON in the 2nd quarter worth about $44,934,000. Institutional investors own 70.81% of the company’s stock.

Insider Activity at AAON

In other AAON news, VP Stephen E. Wakefield sold 29,946 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $90.13, for a total value of $2,699,032.98. Following the completion of the sale, the vice president now owns 15,670 shares in the company, valued at $1,412,337.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other AAON news, VP Stephen E. Wakefield sold 29,946 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $90.13, for a total value of $2,699,032.98. Following the completion of the transaction, the vice president now directly owns 15,670 shares in the company, valued at $1,412,337.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gary D. Fields sold 20,641 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the completion of the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $5,542,871.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,609 shares of company stock worth $5,441,927. Corporate insiders own 18.55% of the company’s stock.

Analyst Upgrades and Downgrades

AAON has been the topic of several research analyst reports. DA Davidson restated a “buy” rating and set a $102.00 target price on shares of AAON in a research note on Wednesday, June 26th. StockNews.com upgraded shares of AAON from a “sell” rating to a “hold” rating in a report on Friday. Robert W. Baird lifted their target price on shares of AAON from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Baird R W raised AAON to a “hold” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $102.00.

AAON Price Performance

NASDAQ AAON opened at $104.05 on Friday. The company has a 50-day moving average price of $90.43 and a 200-day moving average price of $85.22. AAON, Inc. has a 52 week low of $52.24 and a 52 week high of $104.73. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $8.55 billion, a P/E ratio of 48.40 and a beta of 0.80.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $313.57 million during the quarter, compared to analysts’ expectations of $283.77 million. AAON had a net margin of 15.60% and a return on equity of 26.02%. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that AAON, Inc. will post 2.29 earnings per share for the current year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, September 6th. This represents a $0.32 annualized dividend and a yield of 0.31%. AAON’s dividend payout ratio (DPR) is presently 14.88%.

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.