Millennium Management LLC Increases Holdings in AAON, Inc. (NASDAQ:AAON)

Millennium Management LLC grew its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 212.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 656,552 shares of the construction company’s stock after buying an additional 446,344 shares during the period. Millennium Management LLC owned 0.80% of AAON worth $57,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of AAON. Vaughan Nelson Investment Management L.P. lifted its holdings in AAON by 106.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company’s stock worth $95,010,000 after buying an additional 561,195 shares during the last quarter. Blair William & Co. IL acquired a new stake in shares of AAON during the second quarter worth about $44,934,000. Allspring Global Investments Holdings LLC increased its position in shares of AAON by 552.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 350,082 shares of the construction company’s stock worth $30,541,000 after purchasing an additional 296,423 shares in the last quarter. Norden Group LLC increased its position in shares of AAON by 2,604.7% during the first quarter. Norden Group LLC now owns 305,550 shares of the construction company’s stock worth $26,920,000 after purchasing an additional 294,253 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new stake in shares of AAON during the second quarter worth about $15,700,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Baird R W upgraded AAON to a “hold” rating in a research report on Wednesday, July 24th. DA Davidson reiterated a “buy” rating and set a $102.00 target price on shares of AAON in a research report on Wednesday, June 26th. Robert W. Baird lifted their target price on AAON from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $102.00.

AAON Stock Performance

Shares of AAON stock opened at $107.84 on Tuesday. The stock has a market capitalization of $8.87 billion, a PE ratio of 50.16 and a beta of 0.80. AAON, Inc. has a 52-week low of $52.24 and a 52-week high of $109.46. The stock’s 50-day moving average price is $92.19 and its 200 day moving average price is $86.22. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12.

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

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Friday, September 6th. AAON’s dividend payout ratio is presently 14.88%.

Insider Buying and Selling at AAON

In other AAON news, Director Norman H. Asbjornson sold 11,022 shares of AAON stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total value of $963,433.02. Following the sale, the director now owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other AAON news, Director Norman H. Asbjornson sold 11,022 shares of AAON stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total value of $963,433.02. Following the sale, the director now owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen E. Wakefield sold 29,946 shares of AAON 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 sale, the vice president now directly owns 15,670 shares in the company, valued at approximately $1,412,337.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,609 shares of company stock valued at $5,441,927. 18.55% of the stock is owned by corporate insiders.

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.