Foundry Partners LLC Boosts Position in AAR Corp. (AIR)
Foundry Partners LLC increased its stake in shares of AAR Corp. (NYSE:AIR) by 8.2% during the second quarter, Holdings Channel reports. The fund owned 363,487 shares of the aerospace company’s stock after buying an additional 27,554 shares during the period. Foundry Partners LLC’s holdings in AAR Corp. were worth $12,635,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in AAR Corp. by 10.1% in the first quarter. Bank of Montreal Can now owns 3,371 shares of the aerospace company’s stock valued at $114,000 after buying an additional 309 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of AAR Corp. by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 3,520 shares of the aerospace company’s stock valued at $118,000 after buying an additional 30 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of AAR Corp. by 15.9% in the first quarter. Victory Capital Management Inc. now owns 3,623 shares of the aerospace company’s stock valued at $122,000 after buying an additional 496 shares in the last quarter. FNY Partners Fund LP acquired a new stake in shares of AAR Corp. during the first quarter valued at approximately $127,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of AAR Corp. by 12.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,579 shares of the aerospace company’s stock valued at $221,000 after buying an additional 715 shares in the last quarter. Hedge funds and other institutional investors own 88.99% of the company’s stock.
AAR Corp. (NYSE:AIR) opened at 35.29 on Friday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 21.60 and a beta of 1.38. The company’s 50-day moving average is $36.04 and its 200 day moving average is $34.62. AAR Corp. has a 1-year low of $23.34 and a 1-year high of $38.75.
AAR Corp. (NYSE:AIR) last released its earnings results on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $492.30 million during the quarter, compared to the consensus estimate of $486.93 million. AAR Corp. had a net margin of 3.20% and a return on equity of 5.69%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. On average, equities analysts predict that AAR Corp. will post $1.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Friday, July 21st were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Wednesday, July 19th. AAR Corp.’s dividend payout ratio is presently 18.18%.
AAR Corp. announced that its Board of Directors has approved a stock repurchase program on Tuesday, July 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the aerospace company to buy up to 20.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Several brokerages have recently commented on AIR. Noble Financial reiterated a “buy” rating on shares of AAR Corp. in a research report on Thursday, July 13th. BidaskClub cut shares of AAR Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research cut shares of AAR Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $46.80.
In other news, Vice Chairman Timothy J. Romenesko sold 43,200 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $37.28, for a total transaction of $1,610,496.00. Following the completion of the sale, the insider now owns 317,665 shares of the company’s stock, valued at approximately $11,842,551.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert J. Regan sold 28,640 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $36.53, for a total transaction of $1,046,219.20. Following the sale, the vice president now directly owns 114,193 shares of the company’s stock, valued at approximately $4,171,470.29. The disclosure for this sale can be found here. Insiders have sold a total of 95,340 shares of company stock valued at $3,524,350 in the last three months. Insiders own 8.23% of the company’s stock.
AAR Corp. Company Profile
AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
Want to see what other hedge funds are holding AIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AAR Corp. (NYSE:AIR).
Receive News & Ratings for AAR Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AAR Corp. and related companies with MarketBeat.com's FREE daily email newsletter.