9,700 Shares in AAON, Inc. (NASDAQ:AAON) Purchased by PFG Advisors

PFG Advisors acquired a new position in shares of AAON, Inc. (NASDAQ:AAON) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,700 shares of the construction company’s stock, valued at approximately $1,141,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAON. Mather Group LLC. raised its stake in AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after acquiring an additional 193 shares during the period. Westside Investment Management Inc. acquired a new stake in shares of AAON in the third quarter valued at approximately $36,000. UMB Bank n.a. increased its stake in shares of AAON by 67.5% in the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock valued at $38,000 after purchasing an additional 131 shares during the period. Blue Trust Inc. increased its stake in shares of AAON by 28.4% in the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after purchasing an additional 84 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of AAON in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. DA Davidson dropped their price target on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Robert W. Baird decreased their price objective on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a report on Friday, February 28th. CJS Securities upgraded shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Friday, February 28th. Finally, StockNews.com cut shares of AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AAON has an average rating of “Moderate Buy” and an average price target of $115.50.

AAON Trading Down 4.0 %

Shares of NASDAQ:AAON opened at $78.31 on Friday. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 34.50 and a beta of 1.00. AAON, Inc. has a 1-year low of $69.52 and a 1-year high of $144.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The company has a 50 day moving average price of $110.06 and a 200 day moving average price of $113.57.

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. This is a boost from AAON’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is presently 19.90%.

AAON announced that its Board of Directors has authorized a share buyback program on Tuesday, March 4th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the construction company to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About AAON

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.