AAON (NASDAQ:AAON) Shares Down 6% – Here’s What Happened

Shares of AAON, Inc. (NASDAQ:AAON) fell 6% during trading on Monday . The stock traded as low as $105.25 and last traded at $104.7620. 139,343 shares changed hands during trading, a decline of 86% from the average daily volume of 1,010,685 shares. The stock had previously closed at $111.42.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AAON shares. Oppenheimer reiterated an “outperform” rating on shares of AAON in a research note on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of AAON in a report on Tuesday, July 14th. Finally, Zacks Research downgraded AAON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, AAON presently has an average rating of “Moderate Buy” and an average price target of $112.00.

AAON Price Performance

The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 72.02, a P/E/G ratio of 3.12 and a beta of 1.41. The company’s 50 day moving average is $128.38 and its 200 day moving average is $104.52. The company has a quick ratio of 1.75, a current ratio of 2.62 and a debt-to-equity ratio of 0.46.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Thursday, May 7th. The construction company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.17. The business had revenue of $496.94 million during 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 quarter in the previous year, the company earned $0.37 EPS. On average, equities research analysts anticipate that AAON, Inc. will post 2.23 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, June 5th. AAON’s payout ratio is presently 27.97%.

Insider Buying and Selling

In other AAON news, Director Gary D. Fields sold 19,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.20, for a total transaction of $2,663,800.00. Following the transaction, the director owned 15,252 shares in the company, valued at $2,138,330.40. This trade represents a 55.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Joseph Tobolski sold 8,000 shares of AAON stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $135.37, for a total value of $1,082,960.00. Following the completion of the transaction, the chief executive officer directly owned 114,371 shares of the company’s stock, valued at $15,482,402.27. This represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 150,473 shares of company stock valued at $19,516,213 in the last quarter. Corporate insiders own 18.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AAON. EverSource Wealth Advisors LLC raised its stake in 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 purchasing an additional 164 shares in the last quarter. Danske Bank A S acquired a new stake in AAON during the third quarter worth about $47,000. Summit Securities Group LLC bought a new position in AAON in the 4th quarter valued at about $45,000. Huntington National Bank increased its holdings in AAON by 21.1% in the 4th quarter. Huntington National Bank now owns 689 shares of the construction company’s stock valued at $53,000 after buying an additional 120 shares during the period. Finally, UMB Bank n.a. raised its position in shares of AAON by 46.8% in the 4th quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock valued at $67,000 after buying an additional 282 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

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.