PFG Advisors Invests $1.14 Million in AAON, Inc. (NASDAQ:AAON)

PFG Advisors purchased a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,700 shares of the construction company's stock, valued at approximately $1,141,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAON. Mather Group LLC. lifted its stake in shares of AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company's stock valued at $27,000 after buying an additional 193 shares during the period. Westside Investment Management Inc. purchased a new stake in AAON in the third quarter valued at approximately $36,000. UMB Bank n.a. increased its position in AAON by 67.5% during the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company's stock worth $38,000 after purchasing an additional 131 shares during the last quarter. Blue Trust Inc. increased its position in AAON by 28.4% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock worth $41,000 after purchasing an additional 84 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in AAON during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 70.81% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on AAON. CJS Securities upgraded 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. DA Davidson lowered their price target on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, February 28th. StockNews.com downgraded AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Finally, Robert W. Baird decreased their target price on AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $115.50.

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Insider Buying and Selling at AAON

In other news, Director David Raymond Stewart acquired 1,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the acquisition, the director now directly owns 3,000 shares of the company's stock, valued at $242,580. This represents a 50.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.55% of the stock is owned by corporate insiders.

AAON Stock Up 0.8 %

Shares of NASDAQ AAON traded up $0.62 on Monday, hitting $82.76. The company had a trading volume of 772,459 shares, compared to its average volume of 660,690. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 12-month low of $69.52 and a 12-month high of $144.07. The firm has a market capitalization of $6.75 billion, a P/E ratio of 36.46 and a beta of 1.00. The business has a 50 day moving average of $108.51 and a two-hundred day moving average of $113.52.

AAON Increases Dividend

The business 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 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio is currently 19.90%.

AAON declared that its board has approved a stock buyback 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 reacquire up to 0.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

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.