Comerica Bank Cuts Holdings in AAON, Inc. (AAON)
Comerica Bank lowered its stake in AAON, Inc. (NASDAQ:AAON) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,402 shares of the construction company’s stock after selling 2,388 shares during the quarter. Comerica Bank owned about 0.08% of AAON worth $1,457,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in AAON. LS Investment Advisors LLC lifted its stake in AAON by 86.0% in the first quarter. LS Investment Advisors LLC now owns 2,899 shares of the construction company’s stock valued at $102,000 after buying an additional 1,340 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in AAON in the first quarter valued at approximately $123,000. Victory Capital Management Inc. lifted its stake in AAON by 16.1% in the first quarter. Victory Capital Management Inc. now owns 4,140 shares of the construction company’s stock valued at $146,000 after buying an additional 573 shares in the last quarter. SG Americas Securities LLC bought a new position in AAON in the second quarter valued at approximately $220,000. Finally, 1st Global Advisors Inc. lifted its stake in AAON by 11.9% in the first quarter. 1st Global Advisors Inc. now owns 7,197 shares of the construction company’s stock valued at $254,000 after buying an additional 763 shares in the last quarter. 65.30% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the stock. BidaskClub downgraded shares of AAON from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research upgraded shares of AAON from a “sell” rating to a “hold” rating in a report on Tuesday.
Shares of AAON, Inc. (NASDAQ:AAON) opened at 32.60 on Thursday. The firm has a market capitalization of $1.71 billion, a P/E ratio of 33.96 and a beta of 0.97. AAON, Inc. has a 12-month low of $27.11 and a 12-month high of $38.20. The stock has a 50 day moving average of $32.95 and a 200-day moving average of $35.38.
AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The business had revenue of $101.30 million for the quarter, compared to the consensus estimate of $111.24 million. AAON had a return on equity of 24.33% and a net margin of 13.32%. AAON’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, equities research analysts predict that AAON, Inc. will post $1.00 EPS for the current fiscal year.
In other AAON news, Director Jack E. Short sold 5,062 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $31.91, for a total transaction of $161,528.42. Following the transaction, the director now directly owns 54,336 shares in the company, valued at approximately $1,733,861.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.25% of the stock is currently owned by corporate insiders.
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AAON, Inc is engaged in the engineering, manufacturing, marketing and sale of air conditioning and heating equipment consisting of standard, semi-custom and custom rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps and coils.
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