AAON, Inc. (NASDAQ:AAON) Stock Position Increased by Ranger Investment Management L.P.

Ranger Investment Management L.P. lifted its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 18.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 355,531 shares of the construction company's stock after acquiring an additional 54,631 shares during the quarter. AAON makes up 2.6% of Ranger Investment Management L.P.'s investment portfolio, making the stock its 9th largest position. Ranger Investment Management L.P. owned approximately 0.44% of AAON worth $41,839,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Invesco Ltd. grew its position in AAON by 15.6% during the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock worth $239,184,000 after buying an additional 274,119 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of AAON by 5.1% in the 4th quarter. Bank of Montreal Can now owns 10,073 shares of the construction company's stock worth $1,185,000 after purchasing an additional 486 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of AAON by 0.5% during the 4th quarter. Russell Investments Group Ltd. now owns 48,959 shares of the construction company's stock valued at $5,762,000 after purchasing an additional 232 shares during the last quarter. Wedbush Securities Inc. bought a new stake in AAON in the 4th quarter worth approximately $371,000. Finally, Envestnet Asset Management Inc. boosted its stake in AAON by 0.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 340,878 shares of the construction company's stock worth $40,115,000 after buying an additional 2,427 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

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AAON Stock Performance

Shares of NASDAQ AAON traded down $1.87 during midday trading on Monday, hitting $82.29. 264,149 shares of the stock traded hands, compared to its average volume of 719,896. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. AAON, Inc. has a one year low of $68.98 and a one year high of $144.07. The firm has a market capitalization of $6.71 billion, a P/E ratio of 36.25 and a beta of 0.96. The firm has a 50-day moving average of $89.36 and a two-hundred day moving average of $110.86.

AAON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. This is a positive change from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio is presently 19.90%.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at AAON

In other news, Director David Raymond Stewart bought 1,000 shares of AAON stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $80.86 per share, with a total value of $80,860.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 18.55% of the company's stock.

AAON Company 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.