AAON, Inc. (NASDAQ:AAON) Director Acquires $80,860.00 in Stock

AAON, Inc. (NASDAQ:AAON - Get Free Report) Director David Raymond Stewart bought 1,000 shares of the stock in a transaction that occurred 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 completion of the acquisition, the director now owns 3,000 shares of the company's stock, valued at $242,580. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

AAON Stock Performance

Shares of AAON stock traded down $2.96 during trading on Tuesday, reaching $79.80. The company's stock had a trading volume of 892,746 shares, compared to its average volume of 662,158. The business's 50-day moving average price is $106.90 and its 200-day moving average price is $113.34. The firm has a market cap of $6.51 billion, a PE ratio of 35.15 and a beta of 1.00. AAON, Inc. has a 52 week low of $69.52 and a 52 week high of $144.07. 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 announced that its board has authorized a stock buyback program on Tuesday, March 4th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the construction company to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

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AAON Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.50%. 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 payout ratio is presently 19.90%.

Institutional Investors Weigh In On AAON

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in AAON during the fourth quarter worth about $210,000. Park Square Financial Group LLC bought a new stake in AAON during the fourth quarter worth about $57,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in AAON during the fourth quarter worth about $8,920,000. Forum Financial Management LP bought a new stake in AAON during the fourth quarter worth about $202,000. Finally, GTS Securities LLC bought a new stake in AAON during the fourth quarter worth about $408,000. Institutional investors own 70.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research report on Friday, February 28th. DA Davidson reduced their price objective on shares of 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 cut shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Finally, Robert W. Baird reduced their price objective on shares of AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a research 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.50.

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.