AAON, Inc. (NASDAQ:AAON) Announces Quarterly Dividend of $0.10

AAON, Inc. (NASDAQ:AAON - Get Free Report) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Stockholders of record on Tuesday, March 18th will be paid a dividend of 0.10 per share by the construction company on Friday, March 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a 25.0% increase from AAON's previous quarterly dividend of $0.08.

AAON has increased its dividend by an average of 8.1% annually over the last three years. AAON has a payout ratio of 10.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect AAON to earn $2.93 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 10.9%.

AAON Stock Up 1.0 %

Shares of AAON stock traded up $0.82 on Friday, reaching $82.07. 1,591,930 shares of the company's stock traded hands, compared to its average volume of 647,927. AAON has a 12-month low of $69.52 and a 12-month high of $144.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The company has a market capitalization of $6.70 billion, a P/E ratio of 36.15 and a beta of 1.00. The business's 50 day moving average price is $112.28 and its two-hundred day moving average price is $113.65.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AAON. DA Davidson lowered their price target on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 28th. CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a report on Friday, February 28th. Robert W. Baird lowered their price target on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a report on Friday, February 28th. Finally, StockNews.com downgraded AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $115.50.

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AAON declared that its Board of Directors has authorized a share repurchase plan on Tuesday, March 4th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 0.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at AAON

In other AAON news, VP Stephen E. Wakefield sold 5,362 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $130.99, for a total value of $702,368.38. Following the completion of the sale, the vice president now owns 4,558 shares of the company's stock, valued at $597,052.42. The trade was a 54.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 18.55% of the company's stock.

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.