Wesbanco Bank Inc. Sells 5,339 Shares of AAON, Inc. (NASDAQ:AAON)

Wesbanco Bank Inc. lessened its holdings in AAON, Inc. (NASDAQ:AAON - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,500 shares of the construction company's stock after selling 5,339 shares during the quarter. Wesbanco Bank Inc.'s holdings in AAON were worth $3,236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lord Abbett & CO. LLC lifted its position in AAON by 39.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company's stock valued at $31,121,000 after acquiring an additional 81,111 shares in the last quarter. Wolverine Trading LLC bought a new position in shares of AAON during the third quarter valued at $471,000. Caldwell Investment Management Ltd. bought a new position in shares of AAON during the fourth quarter valued at $1,099,000. Geneva Capital Management LLC increased its holdings in AAON by 1.5% in the 3rd quarter. Geneva Capital Management LLC now owns 1,698,207 shares of the construction company's stock worth $183,135,000 after buying an additional 24,384 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in AAON by 3.4% during the 3rd quarter. Raymond James & Associates now owns 142,930 shares of the construction company's stock valued at $15,414,000 after acquiring an additional 4,709 shares during the period. Institutional investors own 70.81% of the company's stock.

AAON Stock Performance

AAON traded down $2.19 during midday trading on Thursday, reaching $134.76. The company had a trading volume of 608,699 shares, compared to its average volume of 578,271. The business has a 50-day moving average of $128.74 and a two-hundred day moving average of $109.85. The company has a market cap of $10.95 billion, a P/E ratio of 59.37 and a beta of 0.87. 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, Inc. has a 1 year low of $69.54 and a 1 year high of $144.07.

AAON (NASDAQ:AAON - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. The business had revenue of $327.25 million for the quarter, compared to the consensus estimate of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. As a group, equities research analysts predict that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 29th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. AAON's dividend payout ratio is presently 14.10%.

Analyst Ratings Changes

AAON has been the subject of several research reports. Sidoti cut shares of AAON from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $102.00 to $111.00 in a report on Tuesday, October 22nd. Baird R W upgraded AAON from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 28th. Robert W. Baird upped their price objective on AAON from $130.00 to $138.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, DA Davidson raised their target price on AAON from $102.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AAON has an average rating of "Moderate Buy" and an average price target of $133.00.

Insider Buying and Selling at AAON

In related news, VP Stephen E. Wakefield sold 5,750 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $139.86, for a total transaction of $804,195.00. Following the completion of the transaction, the vice president now directly owns 9,920 shares of the company's stock, valued at approximately $1,387,411.20. This trade represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rebecca Thompson sold 5,000 shares of the business's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $138.00, for a total transaction of $690,000.00. Following the completion of the sale, the chief financial officer now owns 17,297 shares in the company, valued at approximately $2,386,986. The trade was a 22.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,329 shares of company stock valued at $7,663,726 over the last ninety days. 18.55% of the stock is currently owned by company insiders.

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.