KLP Kapitalforvaltning AS Makes New $1.70 Million Investment in AAON, Inc. (NASDAQ:AAON)

KLP Kapitalforvaltning AS purchased a new stake in AAON, Inc. (NASDAQ:AAON) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,450 shares of the construction company’s stock, valued at approximately $1,700,000.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. grew its holdings in AAON by 521.6% during the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after purchasing an additional 193 shares during the period. Twin Tree Management LP bought a new position in shares of AAON during the fourth quarter worth $33,000. Westside Investment Management Inc. acquired a new position in shares of AAON in the 3rd quarter valued at $36,000. UMB Bank n.a. increased its position in shares of AAON by 67.5% in 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 in the last quarter. Finally, Blue Trust Inc. raised its stake in AAON by 28.4% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock worth $41,000 after buying an additional 84 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AAON

In related news, Director David Raymond Stewart bought 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at $242,580. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. DA Davidson decreased their target price on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 28th. StockNews.com cut AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a research note on Friday, February 28th. Finally, Robert W. Baird lowered their price objective on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.50.

AAON Stock Down 2.7 %

Shares of AAON stock opened at $78.08 on Friday. The firm has a market cap of $6.37 billion, a PE ratio of 34.40 and a beta of 1.00. The business’s 50 day simple moving average is $99.75 and its 200 day simple moving average is $112.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. AAON, Inc. has a 52-week low of $69.52 and a 52-week high of $144.07.

AAON declared that its board has authorized a stock buyback program on Tuesday, March 4th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

AAON Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This is an increase from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.51%. AAON’s dividend payout ratio (DPR) is 19.90%.

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.