Lisanti Capital Growth LLC Invests $1.98 Million in AAON, Inc. (NASDAQ:AAON)

Lisanti Capital Growth LLC bought a new stake in shares of AAON, Inc. (NASDAQ:AAON - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 16,815 shares of the construction company's stock, valued at approximately $1,979,000.

A number of other institutional investors also recently added to or reduced their stakes in AAON. Raymond James Financial Inc. bought a new stake in shares of AAON during the fourth quarter valued at about $73,313,000. Wasatch Advisors LP increased its stake in AAON by 39.1% during the 3rd quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company's stock valued at $201,310,000 after buying an additional 525,132 shares during the period. Franklin Resources Inc. raised its position in shares of AAON by 258.8% during the 3rd quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company's stock worth $37,014,000 after buying an additional 238,308 shares in the last quarter. FMR LLC lifted its stake in shares of AAON by 9.6% in the 3rd quarter. FMR LLC now owns 1,729,498 shares of the construction company's stock worth $186,509,000 after acquiring an additional 151,540 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of 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 acquiring an additional 150,207 shares during the period. Institutional investors and hedge funds own 70.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AAON. StockNews.com lowered shares of AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. DA Davidson lowered their price target on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Robert W. Baird cut their price objective 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 raised AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to 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 Price Performance

Shares of NASDAQ:AAON traded up $2.60 on Tuesday, reaching $82.39. 1,824,368 shares of the company traded hands, compared to its average volume of 655,275. 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 stock has a market capitalization of $6.72 billion, a PE ratio of 36.30 and a beta of 1.00. The company's 50 day moving average is $111.48 and its 200-day moving average is $113.88. AAON, Inc. has a fifty-two week low of $69.52 and a fifty-two week high of $144.07.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio is currently 19.90%.

AAON declared that its board has approved a share repurchase program on Tuesday, March 4th that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 0.5% of its stock through open market purchases. Stock repurchase 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 company'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 transaction, the vice president now directly owns 4,558 shares of the company's stock, valued at $597,052.42. This represents a 54.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 18.55% of the company's stock.

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.