Conway Capital Management Inc. Acquires New Shares in AAON, Inc. (NASDAQ:AAON)

Conway Capital Management Inc. bought a new position in shares of AAON, Inc. (NASDAQ:AAON) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,501 shares of the construction company’s stock, valued at approximately $270,000.

Several other large investors also recently bought and sold shares of the company. M&T Bank Corp raised its stake in shares of AAON by 58.0% during the 3rd quarter. M&T Bank Corp now owns 35,592 shares of the construction company’s stock worth $3,838,000 after buying an additional 13,065 shares during the last quarter. Barclays PLC increased its holdings in AAON by 182.2% during the 3rd quarter. Barclays PLC now owns 84,472 shares of the construction company’s stock valued at $9,111,000 after acquiring an additional 54,535 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new position in AAON during the third quarter worth about $213,000. Zacks Investment Management acquired a new position in AAON during the third quarter worth about $693,000. Finally, Wolverine Trading LLC purchased a new stake in shares of AAON in the third quarter valued at about $471,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analyst Weigh In

AAON has been the subject of a number of recent research reports. Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Robert W. Baird raised their price target on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. StockNews.com raised AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Sidoti lowered AAON from a “buy” rating to a “neutral” rating and increased their price objective for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Finally, DA Davidson lifted their price objective on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Insider Buying and Selling

In other AAON news, VP Casey Kidwell sold 4,796 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total transaction of $654,078.48. Following the completion of the sale, the vice president now directly owns 4,953 shares in the company, valued at $675,490.14. This represents a 49.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Rebecca Thompson sold 5,000 shares of AAON stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $138.00, for a total value of $690,000.00. Following the completion of the transaction, the chief financial officer now directly owns 17,297 shares in the company, valued at $2,386,986. This represents a 22.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,967 shares of company stock valued at $6,961,357. Insiders own 18.55% of the company’s stock.

AAON Trading Down 6.0 %

Shares of AAON opened at $129.06 on Tuesday. AAON, Inc. has a fifty-two week low of $64.53 and a fifty-two week high of $144.07. The company has a market capitalization of $10.49 billion, a PE ratio of 56.85 and a beta of 0.83. The stock has a fifty day moving average of $121.92 and a two-hundred day moving average of $99.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

AAON (NASDAQ:AAON) last released its earnings results on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. AAON had a return on equity of 24.98% and a net margin of 15.78%. The firm had revenue of $327.25 million during the quarter, compared to analyst estimates of $315.80 million. During the same period in the prior year, the firm posted $0.64 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. AAON’s payout ratio is currently 14.10%.

AAON Company Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.