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

AAON, Inc. (NASDAQ:AAON) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 2,150,000 shares, a drop of 19.8% from the October 15th total of 2,680,000 shares. Based on an average daily volume of 369,600 shares, the short-interest ratio is presently 5.8 days.

Insider Activity at AAON

In other news, VP Casey Kidwell sold 4,796 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total value of $654,078.48. Following the transaction, the vice president now directly owns 4,953 shares in the company, valued at approximately $675,490.14. This trade represents a 49.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AAON

Several large investors have recently made changes to their positions in AAON. SG Americas Securities LLC acquired a new position in shares of AAON in the 1st quarter worth $212,000. Sei Investments Co. raised its holdings in AAON by 2.1% during the 1st quarter. Sei Investments Co. now owns 146,519 shares of the construction company’s stock worth $12,908,000 after buying an additional 2,985 shares during the period. Russell Investments Group Ltd. raised its holdings in AAON by 3.1% during the 1st quarter. Russell Investments Group Ltd. now owns 35,819 shares of the construction company’s stock worth $3,156,000 after buying an additional 1,090 shares during the period. ProShare Advisors LLC lifted its stake in AAON by 7.4% during the first quarter. ProShare Advisors LLC now owns 13,656 shares of the construction company’s stock valued at $1,203,000 after buying an additional 940 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of AAON in the first quarter worth about $423,000. Institutional investors own 70.81% of the company’s stock.

AAON Stock Performance

Shares of AAON opened at $133.18 on Friday. The firm has a market capitalization of $10.82 billion, a PE ratio of 58.67 and a beta of 0.79. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $108.85 and a 200 day moving average price of $92.56. AAON has a 52-week low of $61.09 and a 52-week high of $144.07.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $327.25 million for the quarter, compared to analyst estimates of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. On average, sell-side analysts anticipate that AAON will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. AAON’s dividend payout ratio (DPR) is 14.10%.

Wall Street Analyst Weigh In

AAON has been the subject of a number of recent research reports. StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Robert W. Baird increased their price objective on shares of AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and raised their price target for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Finally, DA Davidson boosted their price objective on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

AAON Company Profile

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.