Los Angeles Capital Management LLC Sells 7,568 Shares of AAON, Inc. (NASDAQ:AAON)

Los Angeles Capital Management LLC lowered its position in AAON, Inc. (NASDAQ:AAON) by 17.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,924 shares of the construction company’s stock after selling 7,568 shares during the period. Los Angeles Capital Management LLC’s holdings in AAON were worth $2,728,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Xponance Inc. raised its holdings in AAON by 51.3% during the 3rd quarter. Xponance Inc. now owns 4,004 shares of the construction company’s stock worth $228,000 after buying an additional 1,357 shares during the period. Raymond James & Associates raised its holdings in shares of AAON by 51.2% during the third quarter. Raymond James & Associates now owns 94,784 shares of the construction company’s stock worth $5,390,000 after acquiring an additional 32,085 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in AAON by 49.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 154,102 shares of the construction company’s stock valued at $8,764,000 after acquiring an additional 50,919 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in AAON by 48.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 622,243 shares of the construction company’s stock worth $35,387,000 after purchasing an additional 203,653 shares during the period. Finally, New York State Teachers Retirement System increased its holdings in AAON by 49.0% during the 3rd quarter. New York State Teachers Retirement System now owns 23,390 shares of the construction company’s stock worth $1,330,000 after purchasing an additional 7,696 shares in the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, William Blair started coverage on shares of AAON in a report on Monday, April 29th. They issued an “outperform” rating on the stock.

AAON Price Performance

Shares of AAON stock opened at $76.20 on Tuesday. The business has a fifty day simple moving average of $86.03 and a two-hundred day simple moving average of $74.76. AAON, Inc. has a 1 year low of $52.24 and a 1 year high of $96.34. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 35.44 and a beta of 0.88.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). AAON had a net margin of 15.44% and a return on equity of 25.84%. The company had revenue of $262.10 million during the quarter, compared to the consensus estimate of $284.76 million. During the same period in the prior year, the company earned $0.45 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that AAON, Inc. will post 2.27 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, March 15th. AAON’s dividend payout ratio (DPR) is 14.88%.

Insider Activity

In related news, VP Stephen E. Wakefield sold 24,655 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $80.86, for a total value of $1,993,603.30. Following the transaction, the vice president now owns 15,992 shares in the company, valued at $1,293,113.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Norman H. Asbjornson sold 19,136 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $81.30, for a total value of $1,555,756.80. Following the completion of the transaction, the director now directly owns 14,874 shares in the company, valued at approximately $1,209,256.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen E. Wakefield sold 24,655 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $80.86, for a total value of $1,993,603.30. Following the completion of the transaction, the vice president now owns 15,992 shares of the company’s stock, valued at $1,293,113.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,596 shares of company stock worth $3,613,768. Corporate insiders own 18.55% of the company’s stock.

AAON 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.