Twin Tree Management LP Invests $33,000 in AAON, Inc. (NASDAQ:AAON)

Twin Tree Management LP acquired a new position in shares of AAON, Inc. (NASDAQ:AAON) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 284 shares of the construction company’s stock, valued at approximately $33,000.

A number of other hedge funds have also recently added to or reduced their stakes in AAON. Mather Group LLC. grew its holdings in AAON by 521.6% during the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock worth $27,000 after acquiring an additional 193 shares during the last quarter. Westside Investment Management Inc. bought a new stake in AAON during the 3rd quarter worth about $36,000. UMB Bank n.a. grew its holdings in AAON by 67.5% during the 4th quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after acquiring an additional 131 shares during the last quarter. Blue Trust Inc. grew its holdings in AAON by 28.4% during the 4th quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock worth $41,000 after acquiring an additional 84 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in AAON during the 4th quarter worth about $42,000. Institutional investors own 70.81% of the company’s stock.

Insider Activity at AAON

In other news, Director David Raymond Stewart purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $242,580. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 18.55% of the stock is currently owned by corporate insiders.

AAON Stock Performance

Shares of NASDAQ:AAON opened at $81.48 on Thursday. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 35.89 and a beta of 1.00. The firm’s 50 day simple moving average is $106.90 and its 200 day simple moving average is $113.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON, Inc. has a fifty-two week low of $69.52 and a fifty-two week high of $144.07.

AAON announced that its board has initiated a share repurchase program on Tuesday, March 4th that allows the company to buyback $30.00 million in shares. This buyback authorization allows the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

AAON Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is currently 19.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AAON shares. Robert W. Baird decreased their price objective on shares of AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a report on Friday, February 28th. DA Davidson cut their target price on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a research report 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 on the stock in a research report on Friday, February 28th. Finally, StockNews.com downgraded shares of AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

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.