Allspring Global Investments Holdings LLC Trims Stake in AAON, Inc. (NASDAQ:AAON)

Allspring Global Investments Holdings LLC lessened its stake in AAON, Inc. (NASDAQ:AAON) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,659 shares of the construction company’s stock after selling 670 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of AAON worth $4,727,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AAON. Janney Montgomery Scott LLC increased its stake in AAON by 32.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 3,902 shares of the construction company’s stock worth $222,000 after buying an additional 961 shares during the period. Envestnet Asset Management Inc. increased its stake in AAON by 134.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 185,394 shares of the construction company’s stock worth $10,543,000 after buying an additional 106,302 shares during the period. FMR LLC increased its stake in AAON by 2,673.5% in the 3rd quarter. FMR LLC now owns 77,160 shares of the construction company’s stock worth $4,388,000 after buying an additional 74,378 shares during the period. Hsbc Holdings PLC increased its stake in AAON by 57.2% in the 3rd quarter. Hsbc Holdings PLC now owns 5,502 shares of the construction company’s stock worth $313,000 after buying an additional 2,003 shares during the period. Finally, Mariner LLC increased its stake in AAON by 53.8% in the 3rd quarter. Mariner LLC now owns 8,358 shares of the construction company’s stock worth $475,000 after buying an additional 2,923 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

AAON Price Performance

NASDAQ AAON traded up $0.91 during trading on Tuesday, reaching $84.49. 34,124 shares of the company’s stock traded hands, compared to its average volume of 734,458. AAON, Inc. has a 12-month low of $52.24 and a 12-month high of $96.34. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 39.38 and a beta of 0.80. The company’s 50 day simple moving average is $79.58 and its two-hundred day simple moving average is $79.43.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). AAON had a net margin of 15.44% and a return on equity of 25.84%. The firm had revenue of $262.10 million during the quarter, compared to the consensus estimate of $284.76 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Research analysts expect that AAON, Inc. will post 2.24 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, June 7th. AAON’s dividend payout ratio is currently 14.91%.

Insider Activity

In related 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 value of $1,039,500.00. Following the completion of the sale, the chief financial officer now directly owns 17,297 shares in the company, valued at approximately $1,331,869. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 value of $1,039,500.00. Following the completion of the sale, the chief financial officer now directly owns 17,297 shares in the company, valued at approximately $1,331,869. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary D. Fields sold 28,200 shares of AAON 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 sale, 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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. DA Davidson reaffirmed a “buy” rating and issued a $102.00 price target on shares of AAON in a research note on Wednesday, June 26th. William Blair assumed coverage on shares of AAON in a research report on Monday, April 29th. They set an “outperform” rating on the stock. Finally, StockNews.com downgraded shares of AAON from a “hold” rating to a “sell” rating in a research report on Monday, June 17th.

AAON 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.