Segall Bryant & Hamill LLC Sells 32,024 Shares of AAON, Inc. (NASDAQ:AAON)

Segall Bryant & Hamill LLC decreased its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 33.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,196 shares of the construction company’s stock after selling 32,024 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.08% of AAON worth $7,437,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in shares of AAON by 6.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company’s stock valued at $455,000 after acquiring an additional 244 shares during the period. Avior Wealth Management LLC raised its stake in AAON by 5,040.4% during the 4th quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company’s stock valued at $284,000 after purchasing an additional 2,369 shares during the last quarter. SG Americas Securities LLC boosted its holdings in AAON by 691.1% in the 4th quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company’s stock valued at $2,903,000 after purchasing an additional 21,548 shares during the period. Lord Abbett & CO. LLC grew its position in AAON by 39.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company’s stock worth $31,121,000 after purchasing an additional 81,111 shares during the last quarter. Finally, Wolverine Trading LLC bought a new position in shares of AAON during the 3rd quarter worth about $471,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Price Performance

Shares of AAON stock opened at $81.45 on Thursday. 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 stock’s fifty day simple moving average is $102.79 and its 200 day simple moving average is $113.05. AAON, Inc. has a one year low of $69.52 and a one year high of $144.07. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 35.88 and a beta of 1.00.

AAON Increases Dividend

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

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

Wall Street Analyst Weigh In

AAON has been the topic of a number of recent research reports. Robert W. Baird decreased their target price on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 28th. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research report on Friday, February 28th. DA Davidson reduced their target price on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AAON currently has an average rating of “Moderate Buy” and an average price target of $115.50.

Insider Buying and Selling

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

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.