Twin Tree Management LP Invests $33,000 in AAON, Inc. (NASDAQ:AAON)

Twin Tree Management LP acquired a new position in AAON, Inc. (NASDAQ:AAON) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 284 shares of the construction company’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted 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 worth $41,000 after buying an additional 84 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of AAON by 1.0% in the third quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock worth $949,000 after buying an additional 89 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of AAON by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock worth $2,201,000 after buying an additional 100 shares during the last quarter. Conway Capital Management Inc. lifted its stake in shares of AAON by 4.0% in the fourth quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company’s stock worth $306,000 after buying an additional 101 shares during the last quarter. Finally, Ascent Wealth Partners LLC lifted its stake in shares of AAON by 0.4% in the fourth quarter. Ascent Wealth Partners LLC now owns 29,881 shares of the construction company’s stock worth $3,516,000 after buying an additional 113 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Trading Up 2.1 %

Shares of AAON stock opened at $81.48 on Thursday. The firm has a market capitalization of $6.65 billion, a PE ratio of 35.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The company’s fifty day moving average price is $106.90 and its two-hundred day moving average price is $113.34. AAON, Inc. has a 52-week low of $69.52 and a 52-week high of $144.07.

AAON announced that its board has authorized a stock buyback program on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

AAON Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is 19.90%.

Insider Buying and Selling at AAON

In other news, Director David Raymond Stewart bought 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 18.55% of the company’s stock.

Analysts Set New Price Targets

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

AAON 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.