Arrowstreet Capital Limited Partnership Purchases 52,004 Shares of AAON, Inc. (NASDAQ:AAON)

Arrowstreet Capital Limited Partnership raised its position in AAON, Inc. (NASDAQ:AAON - Free Report) by 18.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 337,003 shares of the construction company's stock after acquiring an additional 52,004 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.41% of AAON worth $39,659,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Mather Group LLC. raised its holdings in shares of AAON by 521.6% in the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company's stock valued at $27,000 after purchasing an additional 193 shares during the last quarter. Twin Tree Management LP bought a new position in AAON in the fourth quarter valued at $33,000. UMB Bank n.a. increased its stake in AAON by 67.5% in the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company's stock valued at $38,000 after buying an additional 131 shares during the last quarter. Westside Investment Management Inc. bought a new stake in AAON during the 3rd quarter worth about $36,000. Finally, Empowered Funds LLC bought a new stake in AAON during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 70.81% of the company's stock.

Insider Activity at AAON

In related news, Director David Raymond Stewart purchased 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the purchase, the director now owns 3,000 shares in the company, valued at approximately $242,580. This represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 18.55% of the stock is owned by company insiders.

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AAON Stock Performance

NASDAQ AAON traded up $0.33 during trading on Monday, reaching $74.53. 903,252 shares of the company's stock were exchanged, compared to its average volume of 715,110. 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 business has a 50 day moving average price of $93.49 and a 200-day moving average price of $112.05. The stock has a market capitalization of $6.08 billion, a P/E ratio of 32.83 and a beta of 0.96. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07.

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

AAON Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 18th. This is a positive change from AAON's previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. AAON's payout ratio is presently 19.90%.

Analyst Upgrades and Downgrades

AAON has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. StockNews.com downgraded AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research note on Friday, February 28th. Finally, DA Davidson decreased their target price on shares of AAON from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, AAON has an average rating of "Moderate Buy" and a consensus price target of $115.50.

AAON 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.