Van ECK Associates Corp Boosts Stock Position in AAON, Inc. (NASDAQ:AAON)

Van ECK Associates Corp raised its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 40.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,111 shares of the construction company's stock after acquiring an additional 14,033 shares during the period. Van ECK Associates Corp owned approximately 0.06% of AAON worth $5,249,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. grew its holdings in AAON by 106.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company's stock worth $95,010,000 after acquiring an additional 561,195 shares during the period. Blair William & Co. IL acquired a new stake in shares of AAON during the 2nd quarter worth approximately $44,934,000. Millennium Management LLC increased its holdings in shares of AAON by 212.3% during the 2nd quarter. Millennium Management LLC now owns 656,552 shares of the construction company's stock valued at $57,278,000 after purchasing an additional 446,344 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of AAON by 552.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 350,082 shares of the construction company's stock valued at $30,541,000 after purchasing an additional 296,423 shares during the period. Finally, Fred Alger Management LLC purchased a new stake in AAON during the second quarter worth $15,700,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on AAON. Robert W. Baird lifted their price objective on shares of AAON from $130.00 to $138.00 and gave the company an "outperform" rating in a report on Friday. DA Davidson lifted their price target on AAON from $102.00 to $150.00 and gave the company a "buy" rating in a research note on Friday. Sidoti cut AAON from a "buy" rating to a "neutral" rating and upped their price target for the stock from $102.00 to $111.00 in a report on Tuesday, October 22nd. Baird R W raised AAON from a "hold" rating to a "strong-buy" rating in a report on Monday, October 28th. Finally, StockNews.com raised AAON from a "sell" rating to a "hold" rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $133.00.

AAON Price Performance

AAON stock traded up $19.14 during midday trading on Friday, reaching $138.24. The company had a trading volume of 700,606 shares, compared to its average volume of 391,641. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 1.70. AAON, Inc. has a 12-month low of $57.19 and a 12-month high of $139.63. The company has a market capitalization of $11.20 billion, a P/E ratio of 62.27 and a beta of 0.79. The firm's fifty day simple moving average is $106.07 and its 200-day simple moving average is $91.56.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. AAON had a return on equity of 26.02% and a net margin of 15.60%. The business had revenue of $327.25 million for the quarter, compared to the consensus estimate of $315.80 million. During the same quarter last year, the business posted $0.64 earnings per share. The business's quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that AAON, Inc. will post 2.28 EPS for the current year.

AAON Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Friday, September 6th. AAON's payout ratio is 14.41%.

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.