Louisiana State Employees Retirement System Makes New $1.62 Million Investment in AAON, Inc. $AAON

Louisiana State Employees Retirement System purchased a new position in shares of AAON, Inc. (NASDAQ:AAON) in the 1st quarter, Holdings Channel reports. The firm purchased 19,600 shares of the construction company’s stock, valued at approximately $1,622,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAON. EverSource Wealth Advisors LLC increased its position in shares of AAON by 96.5% in the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock valued at $25,000 after acquiring an additional 164 shares during the last quarter. Summit Securities Group LLC acquired a new position in AAON during the fourth quarter valued at approximately $45,000. Danske Bank A S bought a new position in AAON in the third quarter valued at approximately $47,000. Huntington National Bank grew its stake in AAON by 27.0% in the third quarter. Huntington National Bank now owns 569 shares of the construction company’s stock valued at $53,000 after purchasing an additional 121 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of AAON by 46.8% during the 4th quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock worth $67,000 after purchasing an additional 282 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Stock Down 8.2%

Shares of AAON opened at $116.42 on Thursday. AAON, Inc. has a 52 week low of $62.00 and a 52 week high of $150.46. The firm has a market cap of $9.54 billion, a P/E ratio of 81.41, a price-to-earnings-growth ratio of 3.55 and a beta of 1.41. The firm’s 50-day simple moving average is $126.01 and its 200 day simple moving average is $101.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.17. The firm had revenue of $496.94 million for the quarter, compared to analysts’ expectations of $381.08 million. AAON had a net margin of 7.30% and a return on equity of 13.67%. The business’s revenue was up 54.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. On average, analysts forecast that AAON, Inc. will post 2.23 earnings per share for the current year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, June 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. AAON’s dividend payout ratio (DPR) is 27.97%.

Insider Transactions at AAON

In related news, CAO Rebecca Thompson sold 21,914 shares of AAON stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $100.21, for a total transaction of $2,196,001.94. Following the completion of the sale, the chief accounting officer directly owned 27,681 shares of the company’s stock, valued at approximately $2,773,913.01. This trade represents a 44.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary D. Fields sold 31,271 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $134.07, for a total value of $4,192,502.97. Following the completion of the sale, the director owned 34,252 shares of the company’s stock, valued at $4,592,165.64. This trade represents a 47.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 150,473 shares of company stock worth $19,516,213 in the last ninety days. 18.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Oppenheimer reiterated an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Zacks Research raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $112.00.

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.