Daiwa Securities Group Inc. has increased its stake in AAON, Inc. (NASDAQ:AAON) by 25.4% in the third quarter, as revealed in its recent disclosure with the Securities and Exchange Commission. The institutional investor now owns 88,588 shares of the construction company's stock, reflecting the purchase of an additional 17,929 shares during the period. As of the most recent SEC filing, Daiwa Securities Group Inc. held 0.11% of AAON, with a total value of $5,038,000.
Various other hedge funds and institutional investors have also recently engaged in buying and selling shares of AAON. Morgan Stanley, for instance, increased its stake in AAON by a substantial 321.1% in the fourth quarter, now owning 1,819,718 shares valued at $137,061,000. Conestoga Capital Advisors LLC saw a 50.8% increase in its stake during the third quarter, owning 3,329,064 shares valued at $189,324,000. BlackRock Inc. increased its stake by 11.7% in the second quarter, now holding 7,384,220 shares valued at $700,098,000. JPMorgan Chase & Co. recorded a massive 604.5% increase in its position during the first quarter, owning 528,056 shares valued at $51,058,000. Additionally, Portside Wealth Group LLC acquired a new stake during the second quarter, worth about $40,120,000. Currently, 47.89% of the stock is owned by institutional investors.
In terms of analyst ratings, StockNews.com initiated coverage on AAON on October 5th, assigning a "hold" rating for the company.
AAON's trading on NASDAQ opened at $70.32 on Friday, with a 50-day moving average of $68.34 and a 200-day moving average of $59.17. The company has a market cap of $5.77 billion, a PE ratio of 34.36, and a beta of 0.88. AAON, Inc. has a one-year low of $48.36 and a one-year high of $75.24.
AAON last reported its earnings results on November 6th, revealing $0.64 EPS for the quarter, surpassing the consensus estimate of $0.55 by $0.09. The construction company posted a net margin of 15.18% and a return on equity of 27.79%. The company's revenue for the quarter was $311.97 million, exceeding the consensus estimate of $294.63 million. Analysts anticipate AAON, Inc. will post 2.09 EPS for the current fiscal year.
Additionally, AAON recently declared a quarterly dividend, paid on December 18th. Investors of record on November 29th were issued a dividend of $0.08 per share, representing a $0.32 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was November 28th. The dividend payout ratio (DPR) for AAON is currently 15.64%.
Regarding insider activity, COO Stephen E. Wakefield sold 15,000 shares of the business's stock on December 26th at an average price of $74.00, totaling $1,110,000. Following the transaction, Wakefield owns 13,473 shares in the company, valued at $997,002. In related news, CFO Rebecca Thompson sold 5,000 shares of the business's stock on November 27th at an average price of $64.00, amounting to $320,000. Following this sale, Thompson owns 15,107 shares in the company, valued at $966,848. Over the last ninety days, insiders have collectively sold 173,093 shares of AAON, worth $11,561,751. Insiders now own 19.16% of the stocks.AAON, Inc., along with its subsidiaries, is involved 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 a variety of HVAC products, including rooftop units, data center cooling solutions, cleanroom systems, chillers, and more.
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