Segall Bryant & Hamill LLC Has $7.44 Million Holdings in AAON, Inc. (NASDAQ:AAON)

Segall Bryant & Hamill LLC reduced its stake in shares of AAON, Inc. (NASDAQ:AAON) by 33.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 63,196 shares of the construction company’s stock after selling 32,024 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in AAON were worth $7,437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AAON. Raymond James Financial Inc. bought a new position in AAON in the 4th quarter valued at $73,313,000. Wasatch Advisors LP lifted its stake in shares of AAON by 39.1% during the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock valued at $201,310,000 after acquiring an additional 525,132 shares during the period. Franklin Resources Inc. boosted its holdings in AAON by 258.8% in the third quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock valued at $37,014,000 after acquiring an additional 238,308 shares during the last quarter. FMR LLC boosted its holdings in AAON by 9.6% in the third quarter. FMR LLC now owns 1,729,498 shares of the construction company’s stock valued at $186,509,000 after acquiring an additional 151,540 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in AAON by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock worth $351,615,000 after purchasing an additional 150,207 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AAON shares. DA Davidson reduced their target price on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock 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 target price for the company in a report on Friday, February 28th. StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, Robert W. Baird decreased their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat, AAON presently has a consensus rating of “Moderate Buy” and an average target price of $115.50.

Insiders Place Their Bets

In other AAON news, Director David Raymond Stewart purchased 1,000 shares of the company’s 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 completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $242,580. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 18.55% of the company’s stock.

AAON Stock Down 3.2 %

Shares of NASDAQ:AAON opened at $81.45 on Thursday. The company has a 50 day moving average price of $102.79 and a two-hundred day moving average price of $113.05. The company has a market capitalization of $6.65 billion, a PE ratio of 35.88 and a beta of 1.00. AAON, Inc. has a 52 week low of $69.52 and a 52 week high of $144.07. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 is a positive change from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.49%. AAON’s payout ratio is currently 19.90%.

AAON declared that its Board of Directors has authorized a share buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.