Wellington Management Group LLP Acquires New Stake in AAON, Inc. (NASDAQ:AAON)

Wellington Management Group LLP purchased a new position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 70,613 shares of the construction company's stock, valued at approximately $8,310,000. Wellington Management Group LLP owned 0.09% of AAON at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. increased its position in shares of 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 acquiring an additional 193 shares during the last quarter. Twin Tree Management LP purchased a new stake in AAON during the 4th quarter worth approximately $33,000. Westside Investment Management Inc. acquired a new position in shares of AAON in the 3rd quarter valued at approximately $36,000. UMB Bank n.a. boosted its stake in shares of AAON by 67.5% during 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. Finally, Blue Trust Inc. grew its position in shares of AAON by 28.4% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock worth $41,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company's stock.

Insider Buying and Selling

In other news, Director David Raymond Stewart bought 1,000 shares of AAON stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now directly owns 3,000 shares of the company's stock, valued at approximately $242,580. This trade represents a 50.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 18.55% of the stock is owned by company insiders.

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AAON Stock Performance

AAON stock traded down $1.65 during midday trading on Tuesday, reaching $82.36. The company had a trading volume of 330,894 shares, compared to its average volume of 720,565. The firm has a market capitalization of $6.72 billion, a PE ratio of 36.28 and a beta of 0.96. The stock has a 50 day moving average price of $88.74 and a 200 day moving average price of $110.70. AAON, Inc. has a fifty-two week low of $68.98 and a fifty-two week high of $144.07. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07.

AAON declared that its Board of Directors has initiated a stock 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.49%. This is a positive change from AAON's previous quarterly dividend of $0.08. AAON's payout ratio is currently 19.90%.

Analyst Ratings Changes

A number of research firms have commented on AAON. CJS Securities upgraded shares of 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. Robert W. Baird reduced their price target on shares of 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 lowered AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Finally, DA Davidson reduced their target price on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.