3,150 Shares in AAON, Inc. (NASDAQ:AAON) Bought by Wedbush Securities Inc.

Wedbush Securities Inc. purchased a new stake in AAON, Inc. (NASDAQ:AAON) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,150 shares of the construction company’s stock, valued at approximately $371,000.

A number of other hedge funds have also recently bought and sold shares of AAON. Mather Group LLC. boosted its holdings in AAON by 521.6% in the 4th 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 acquired a new position in shares of AAON in the 4th quarter valued at $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. raised its stake 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 shares of AAON by 28.4% in the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock valued at $41,000 after buying an additional 84 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

AAON Stock Up 12.6 %

Shares of NASDAQ:AAON opened at $82.22 on Thursday. AAON, Inc. has a 12 month low of $68.98 and a 12 month high of $144.07. The company’s 50-day moving average price is $90.59 and its two-hundred day moving average price is $111.18. 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 $6.71 billion, a P/E ratio of 36.22 and a beta of 0.96.

AAON Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued 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 dividend payout ratio is currently 19.90%.

AAON declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other AAON news, Director David Raymond Stewart bought 1,000 shares of AAON stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 18.55% of the company’s stock.

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.