CIBC Asset Management Inc Makes New $252,000 Investment in AAON, Inc. (NASDAQ:AAON)

CIBC Asset Management Inc acquired a new stake in AAON, Inc. (NASDAQ:AAON) in the third quarter, HoldingsChannel reports. The institutional investor acquired 2,336 shares of the construction company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in AAON by 0.9% in the first quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock worth $641,267,000 after purchasing an additional 61,544 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of AAON in the 1st quarter worth approximately $518,000. PEAK6 Investments LLC lifted its position in shares of AAON by 31.6% during the 1st quarter. PEAK6 Investments LLC now owns 8,790 shares of the construction company’s stock worth $774,000 after buying an additional 2,109 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in AAON by 1.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 562,933 shares of the construction company’s stock valued at $49,595,000 after buying an additional 6,766 shares in the last quarter. Finally, Bamco Inc. NY grew its position in AAON by 13.6% in the first quarter. Bamco Inc. NY now owns 218,889 shares of the construction company’s stock valued at $19,284,000 after acquiring an additional 26,190 shares during the period. 70.81% of the stock is owned by institutional investors.

Insider Transactions at AAON

In related news, VP Casey Kidwell sold 1,421 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $135.14, for a total transaction of $192,033.94. Following the completion of the sale, the vice president now directly owns 4,953 shares of the company’s stock, valued at $669,348.42. The trade was a 22.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gary D. Fields sold 35,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $132.03, for a total transaction of $4,621,050.00. Following the completion of the transaction, the chief executive officer now owns 64,295 shares in the company, valued at $8,488,868.85. This represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,217 shares of company stock worth $5,467,162 over the last 90 days. 18.55% of the stock is owned by insiders.

AAON Stock Up 1.4 %

Shares of NASDAQ AAON opened at $137.42 on Friday. AAON, Inc. has a 12-month low of $61.09 and a 12-month high of $144.07. The firm’s 50-day simple moving average is $114.05 and its 200 day simple moving average is $94.31. 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 company has a market cap of $11.17 billion, a price-to-earnings ratio of 59.37 and a beta of 0.79.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The company 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%. AAON’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 earnings per share. On average, research analysts expect that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. AAON’s dividend payout ratio (DPR) is currently 14.10%.

Wall Street Analysts Forecast Growth

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

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.