9,700 Shares in AAON, Inc. (NASDAQ:AAON) Acquired by PFG Advisors

PFG Advisors purchased a new stake in AAON, Inc. (NASDAQ:AAON) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,700 shares of the construction company’s stock, valued at approximately $1,141,000.

Several other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its position 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 acquiring an additional 84 shares in the last quarter. Captrust Financial Advisors lifted its position in AAON by 1.0% in the 3rd quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock worth $949,000 after buying an additional 89 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in AAON by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock worth $2,201,000 after buying an additional 100 shares in the last quarter. Conway Capital Management Inc. lifted its position in AAON by 4.0% in the 4th quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company’s stock worth $306,000 after buying an additional 101 shares in the last quarter. Finally, Ascent Wealth Partners LLC lifted its position in AAON by 0.4% in the 4th quarter. Ascent Wealth Partners LLC now owns 29,881 shares of the construction company’s stock worth $3,516,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

AAON Stock Down 4.0 %

AAON stock opened at $78.31 on Friday. The company has a market capitalization of $6.39 billion, a P/E ratio of 34.50 and a beta of 1.00. The firm’s fifty day simple moving average is $110.06 and its 200-day simple moving average is $113.57. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. AAON, Inc. has a 1-year low of $69.52 and a 1-year high of $144.07.

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

AAON Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AAON. 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. StockNews.com downgraded shares of AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Robert W. Baird cut 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. Finally, DA Davidson cut their target price on shares of AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

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.