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

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAON. Robert W. Baird upped their price target on shares of AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. StockNews.com upgraded shares of AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. DA Davidson lifted their price target on AAON from $102.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Sidoti cut AAON from a “buy” rating to a “neutral” rating and raised their target price for the company from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Two equities research 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 company. Based on data from MarketBeat, AAON currently has an average rating of “Moderate Buy” and an average price target of $133.00.

Insider Activity

In other AAON news, VP Casey Kidwell sold 4,796 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total value of $654,078.48. Following the sale, the vice president now directly owns 4,953 shares of the company’s stock, valued at $675,490.14. This trade represents a 49.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 18.55% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. boosted its holdings in AAON by 106.3% during the second 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 in the last quarter. Wasatch Advisors LP lifted its position in shares of AAON by 39.1% during the 3rd quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock valued at $201,310,000 after acquiring an additional 525,132 shares during the last quarter. Blair William & Co. IL bought a new stake in shares of AAON during the 2nd quarter worth $44,934,000. Millennium Management LLC grew its holdings in shares of AAON by 212.3% in the 2nd quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock worth $57,278,000 after acquiring an additional 446,344 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised 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 during the period. Institutional investors own 70.81% of the company’s stock.

AAON Stock Up 0.2 %

AAON stock opened at $133.46 on Friday. The firm’s 50-day moving average is $110.69 and its two-hundred day moving average is $93.11. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 58.79 and a beta of 0.79. AAON has a 52 week low of $61.09 and a 52 week high of $144.07. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07.

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, analysts forecast that AAON will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

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 paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, November 29th. AAON’s dividend payout ratio is presently 14.10%.

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.