AAON (NASDAQ:AAON) Hits New 52-Week Low - Here's What Happened

AAON, Inc. (NASDAQ:AAON - Get Free Report)'s stock price reached a new 52-week low on Tuesday . The company traded as low as $69.52 and last traded at $75.71, with a volume of 822028 shares changing hands. The stock had previously closed at $73.52.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in 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 cut 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 lowered shares of AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Finally, Robert W. Baird cut 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 research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AAON presently has an average rating of "Moderate Buy" and a consensus target price of $115.50.

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AAON Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The firm's 50-day moving average is $112.28 and its 200 day moving average is $113.65. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 36.15 and a beta of 1.00.

AAON Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be given a dividend of $0.10 per share. This is a positive change from AAON's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.49%. AAON's dividend payout ratio is 15.92%.

AAON declared that its Board of Directors has approved a stock repurchase program on Tuesday, March 4th that authorizes the company to buyback $30.00 million in shares. This buyback authorization authorizes 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 board believes its stock is undervalued.

Insiders Place Their Bets

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

Institutional Investors Weigh In On AAON

Institutional investors have recently bought and sold shares of the business. Mather Group LLC. grew its stake in AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company's stock worth $27,000 after buying an additional 193 shares during the period. Twin Tree Management LP purchased a new position in shares of AAON in the fourth quarter valued at $33,000. Westside Investment Management Inc. purchased a new position in shares of AAON in the third quarter valued at $36,000. Quarry LP boosted its stake in shares of AAON by 49.0% in the fourth quarter. Quarry LP now owns 313 shares of the construction company's stock valued at $37,000 after purchasing an additional 103 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of AAON by 67.5% in the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company's stock valued at $38,000 after purchasing an additional 131 shares during the period. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

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.