AAON, Inc. (NASDAQ:AAON – Get Rating) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 581,200 shares, an increase of 11.7% from the November 30th total of 520,400 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 184,800 shares, the short-interest ratio is presently 3.1 days.
Insider Buying and Selling
In related news, VP Rony D. Gadiwalla sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $56.46, for a total transaction of $169,380.00. Following the sale, the vice president now owns 20,726 shares of the company's stock, valued at $1,170,189.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Rony D. Gadiwalla sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $55.12, for a total transaction of $275,600.00. Following the sale, the vice president now owns 20,726 shares of the company's stock, valued at $1,142,417.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Rony D. Gadiwalla sold 3,000 shares of the company's stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $56.46, for a total value of $169,380.00. Following the completion of the transaction, the vice president now directly owns 20,726 shares in the company, valued at approximately $1,170,189.96. The disclosure for this sale can be found here. Insiders have sold a total of 45,158 shares of company stock valued at $3,147,354 over the last quarter. Corporate insiders own 19.27% of the company's stock.
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Hedge Funds Weigh In On AAON
Several institutional investors and hedge funds have recently modified their holdings of AAON. Strs Ohio purchased a new position in shares of AAON during the 3rd quarter valued at $32,000. Bessemer Group Inc. grew its holdings in shares of AAON by 39.7% during the 3rd quarter. Bessemer Group Inc. now owns 598 shares of the construction company's stock valued at $32,000 after acquiring an additional 170 shares in the last quarter. Group One Trading L.P. purchased a new position in shares of AAON during the 1st quarter valued at $39,000. Pinnacle Financial Partners Inc. purchased a new position in shares of AAON during the 3rd quarter valued at $40,000. Finally, Lazard Asset Management LLC bought a new stake in AAON in the first quarter worth $53,000. 70.08% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. CJS Securities assumed coverage on AAON in a report on Thursday, September 15th. They issued an "outperform" rating and a $73.00 price target on the stock. DA Davidson upped their price target on AAON to $75.00 in a report on Tuesday, November 15th. TheStreet raised AAON from a "c+" rating to a "b" rating in a report on Wednesday, November 9th. Finally, StockNews.com raised AAON from a "sell" rating to a "hold" rating in a report on Saturday, November 19th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.33.
AAON Price Performance
Shares of NASDAQ:AAON opened at $75.32 on Monday. The company's fifty day moving average is $74.74 and its two-hundred day moving average is $63.03. The company has a quick ratio of 1.12, a current ratio of 2.36 and a debt-to-equity ratio of 0.15. AAON has a 12-month low of $47.50 and a 12-month high of $83.00. The company has a market cap of $4.01 billion, a P/E ratio of 60.26 and a beta of 0.81.
AAON (NASDAQ:AAON – Get Rating) last announced its earnings results on Monday, November 7th. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.07. AAON had a net margin of 8.78% and a return on equity of 14.48%. The company had revenue of $242.61 million for the quarter. Equities analysts expect that AAON will post 1.7 earnings per share for the current fiscal year.
AAON Increases Dividend
The business also recently declared a Semi-Annual dividend, which was paid on Friday, December 16th. Stockholders of record on Monday, November 28th were issued a dividend of $0.24 per share. This is a boost from AAON's previous Semi-Annual dividend of $0.19. This represents a dividend yield of 0.6%. The ex-dividend date was Friday, November 25th. AAON's payout ratio is currently 38.40%.
About AAON
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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.
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