Ostrum Asset Management Trims Holdings in AAON, Inc. (NASDAQ:AAON)

Ostrum Asset Management cut its stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 60.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,095 shares of the construction company's stock after selling 6,215 shares during the period. Ostrum Asset Management's holdings in AAON were worth $482,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in AAON by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company's stock worth $734,262,000 after acquiring an additional 75,832 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of AAON by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock valued at $351,615,000 after purchasing an additional 150,207 shares during the period. Invesco Ltd. lifted its stake in shares of AAON by 15.6% during the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock valued at $239,184,000 after buying an additional 274,119 shares in the last quarter. Geode Capital Management LLC increased its stake in AAON by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,237,680 shares of the construction company's stock worth $145,692,000 after buying an additional 3,644 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in AAON by 4.2% during the fourth quarter. Blair William & Co. IL now owns 1,169,782 shares of the construction company's stock valued at $137,660,000 after acquiring an additional 47,254 shares during the period. Institutional investors own 70.81% of the company's stock.

Insider Activity

In other 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 price of $80.86 per share, with a total value of $80,860.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, 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 available at this hyperlink. Corporate insiders own 18.55% of the company's stock.

Analyst Ratings Changes

AAON has been the subject of a number of recent analyst reports. DA Davidson dropped their price objective on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 28th. CJS Securities upgraded shares of 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. StockNews.com lowered 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 target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AAON has a consensus rating of "Moderate Buy" and an average target price of $115.50.

AAON Price Performance

Shares of AAON stock traded up $3.78 during trading hours on Thursday, reaching $85.84. The company's stock had a trading volume of 635,970 shares, compared to its average volume of 730,773. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON, Inc. has a one year low of $68.98 and a one year high of $144.07. The firm has a 50 day moving average price of $83.78 and a 200-day moving average price of $109.23. The stock has a market cap of $7.00 billion, a P/E ratio of 37.82 and a beta of 0.96.

AAON announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 18th. This is an increase from AAON's previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.47%. AAON's dividend payout ratio is 19.90%.

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.