Atria Investments Inc Cuts Stake in AAON, Inc. (NASDAQ:AAON)

Atria Investments Inc lowered its holdings in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 27.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,968 shares of the construction company's stock after selling 3,806 shares during the quarter. Atria Investments Inc's holdings in AAON were worth $1,173,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AAON. Wasatch Advisors LP grew its position in shares of AAON by 39.1% during the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company's stock worth $201,310,000 after purchasing an additional 525,132 shares in the last quarter. Franklin Resources Inc. grew its position in shares of AAON by 258.8% during the third quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company's stock worth $37,014,000 after purchasing an additional 238,308 shares in the last quarter. FMR LLC grew its position in shares of AAON by 9.6% during the third quarter. FMR LLC now owns 1,729,498 shares of the construction company's stock worth $186,509,000 after purchasing an additional 151,540 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock worth $351,615,000 after purchasing an additional 150,207 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in AAON by 75.7% during the 3rd quarter. Victory Capital Management Inc. now owns 344,620 shares of the construction company's stock valued at $37,164,000 after buying an additional 148,507 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company's stock.

Insider Buying and Selling

In related news, VP Stephen E. Wakefield sold 5,362 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was 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 of the company's stock, valued at approximately $597,052.42. This trade represents a 54.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.55% of the stock is owned by corporate insiders.

AAON Price Performance

NASDAQ:AAON opened at $82.39 on Wednesday. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 36.30 and a beta of 1.00. AAON, Inc. has a 1 year low of $69.52 and a 1 year high of $144.07. The business has a 50 day simple moving average of $111.48 and a 200-day simple moving average of $113.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79.

Remove Ads

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

AAON Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be paid a dividend of $0.10 per share. 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 0.49%. The ex-dividend date of this dividend is Tuesday, March 18th. AAON's dividend payout ratio (DPR) is currently 19.90%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AAON shares. StockNews.com cut AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. DA Davidson cut their price target on AAON from $150.00 to $125.00 and set a "buy" rating for the company in a report on Friday, February 28th. Robert W. Baird cut their price target on AAON from $155.00 to $116.00 and set an "outperform" rating for the company in a report on Friday, February 28th. Finally, CJS Securities upgraded AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target for the company in a 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.50.

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.

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