Malaga Cove Capital LLC Purchases New Holdings in AAON, Inc. (NASDAQ:AAON)

Malaga Cove Capital LLC acquired a new position in shares of AAON, Inc. (NASDAQ:AAON) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,920 shares of the construction company’s stock, valued at approximately $207,000.

Several other large investors have also recently bought and sold shares of AAON. Van ECK Associates Corp lifted its stake in shares of AAON by 40.0% during the third quarter. Van ECK Associates Corp now owns 49,111 shares of the construction company’s stock valued at $5,249,000 after acquiring an additional 14,033 shares during the period. Pembroke Management LTD raised its holdings in AAON by 62.5% during the 3rd quarter. Pembroke Management LTD now owns 166,361 shares of the construction company’s stock worth $17,940,000 after purchasing an additional 64,014 shares during the last quarter. Arcadia Investment Management Corp MI lifted its position in AAON by 89.1% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 13,531 shares of the construction company’s stock valued at $1,459,000 after purchasing an additional 6,374 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of AAON by 1.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,125,186 shares of the construction company’s stock valued at $229,180,000 after purchasing an additional 39,059 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its position in shares of AAON by 29.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 567,995 shares of the construction company’s stock worth $61,253,000 after buying an additional 129,598 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

AAON Stock Performance

AAON stock opened at $119.10 on Friday. AAON, Inc. has a 1-year low of $57.19 and a 1-year high of $122.97. The company has a current ratio of 2.99, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The firm has a market cap of $9.65 billion, a PE ratio of 53.65 and a beta of 0.79. The business’s 50-day moving average price is $105.21 and its two-hundred day moving average price is $91.18.

AAON Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, September 6th. AAON’s dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AAON shares. Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and increased their price objective for the company from $102.00 to $111.00 in a report on Tuesday, October 22nd. Robert W. Baird upgraded AAON from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $114.00 to $130.00 in a research report on Monday, October 28th. Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.33.

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.