Riverbridge Partners LLC Purchases New Stake in AAON, Inc. $AAON

Riverbridge Partners LLC purchased a new stake in shares of AAON, Inc. (NASDAQ:AAON) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 224,184 shares of the construction company’s stock, valued at approximately $20,948,000. Riverbridge Partners LLC owned 0.27% of AAON as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after purchasing an additional 164 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in AAON during the 2nd quarter valued at approximately $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in AAON in the 2nd quarter worth approximately $53,000. UMB Bank n.a. increased its stake in shares of AAON by 32.9% during the second quarter. UMB Bank n.a. now owns 783 shares of the construction company’s stock valued at $58,000 after buying an additional 194 shares during the period. Finally, Trust Co. of Toledo NA OH bought a new position in shares of AAON during the second quarter valued at approximately $91,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Buying and Selling

In other news, Director Gary D. Fields sold 26,746 shares of AAON stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $105.21, for a total transaction of $2,813,946.66. Following the completion of the transaction, the director directly owned 26,340 shares in the company, valued at approximately $2,771,231.40. This trade represents a 50.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen E. Wakefield purchased 4,141 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was bought at an average price of $77.59 per share, for a total transaction of $321,300.19. Following the purchase, the executive vice president directly owned 15,212 shares in the company, valued at $1,180,299.08. The trade was a 37.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 18.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AAON shares. Weiss Ratings reissued a “hold (c)” rating on shares of AAON in a research report on Wednesday, October 8th. Zacks Research raised shares of AAON from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Oppenheimer reiterated an “outperform” rating and set a $115.00 price target on shares of AAON in a research report on Friday, November 7th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.60.

AAON Stock Performance

Shares of AAON stock opened at $75.34 on Monday. The company has a current ratio of 3.04, a quick ratio of 2.03 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $6.15 billion, a P/E ratio of 62.26 and a beta of 1.06. The business has a fifty day simple moving average of $93.38 and a two-hundred day simple moving average of $86.33. AAON, Inc. has a 12 month low of $62.00 and a 12 month high of $137.90.

AAON (NASDAQ:AAON) last released its earnings results on Tuesday, June 10th. The construction company reported $0.37 earnings per share for the quarter. The firm had revenue of $322.05 million for the quarter. AAON had a net margin of 7.62% and a return on equity of 12.52%. On average, equities analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Wednesday, November 26th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, November 26th. AAON’s dividend payout ratio is 33.06%.

About AAON

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.