AAON, Inc. (NASDAQ:AAON) to Issue Quarterly Dividend of $0.08

by · The Cerbat Gem

AAON, Inc. (NASDAQ:AAON – Get Free Report) announced a quarterly dividend on Wednesday, November 13th,RTT News reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.08 per share by the construction company on Thursday, December 19th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%.

AAON has increased its dividend payment by an average of 8.1% annually over the last three years. AAON has a dividend payout ratio of 11.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AAON to earn $2.89 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 11.1%.

AAON Stock Performance

Shares of NASDAQ AAON traded down $2.63 during trading hours on Wednesday, hitting $135.10. 246,319 shares of the company’s stock were exchanged, compared to its average volume of 602,706. The company’s 50-day moving average price is $107.94 and its 200-day moving average price is $92.26. AAON has a 1-year low of $59.71 and a 1-year high of $144.07. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 60.06 and a beta of 0.79. 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 (NASDAQ:AAON – Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. AAON had a return on equity of 24.98% and a net margin of 15.78%. The company had revenue of $327.25 million during the quarter, compared to analysts’ expectations of $315.80 million. During the same period in the prior year, the business earned $0.64 earnings per share. AAON’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect that AAON will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AAON news, VP Casey Kidwell sold 4,796 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total value of $654,078.48. Following the sale, the vice president now directly owns 4,953 shares in the company, valued at $675,490.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 18.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AAON. DA Davidson boosted their price objective on shares of AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Sidoti lowered AAON from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $102.00 to $111.00 in a report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price objective on AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.00.

Get Our Latest Stock Analysis on AAON

About AAON

(Get Free Report)

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.

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