KLP Kapitalforvaltning AS Invests $1.70 Million in AAON, Inc. (NASDAQ:AAON)

KLP Kapitalforvaltning AS bought a new stake in AAON, Inc. (NASDAQ:AAON - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,450 shares of the construction company's stock, valued at approximately $1,700,000.

A number of other institutional investors have also recently made changes to their positions in AAON. Raymond James Financial Inc. bought a new stake in AAON in the 4th quarter valued at about $73,313,000. Wasatch Advisors LP increased its stake in shares of AAON by 39.1% in 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. raised its position in shares of AAON by 258.8% in the third quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company's stock valued at $37,014,000 after purchasing an additional 238,308 shares during the period. FMR LLC lifted its stake in shares of AAON by 9.6% during the 3rd quarter. FMR LLC now owns 1,729,498 shares of the construction company's stock valued at $186,509,000 after buying an additional 151,540 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in AAON by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company's stock worth $351,615,000 after buying an additional 150,207 shares during the period. Hedge funds and other institutional investors own 70.81% of the company's stock.

Wall Street Analysts Forecast Growth

AAON has been the topic of a number of analyst reports. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Friday, February 28th. DA Davidson decreased their price objective on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. StockNews.com downgraded AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Finally, Robert W. Baird decreased their price target on AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research 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, the company has an average rating of "Moderate Buy" and an average price target of $115.50.

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AAON Price Performance

NASDAQ:AAON traded up $3.56 during trading hours on Wednesday, hitting $82.72. 583,932 shares of the company's stock traded hands, compared to its average volume of 707,232. AAON, Inc. has a 52 week low of $69.52 and a 52 week high of $144.07. The business's fifty day simple moving average is $96.56 and its two-hundred day simple moving average is $112.43. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The firm has a market cap of $6.75 billion, a P/E ratio of 36.44 and a beta of 1.00.

AAON Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio (DPR) is 19.90%.

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

Insider Transactions at AAON

In related news, Director David Raymond Stewart acquired 1,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $80.86 per share, with a total value of $80,860.00. Following the acquisition, the director now owns 3,000 shares of the company's stock, valued at approximately $242,580. The trade was a 50.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.55% of the stock is owned by insiders.

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.