AAON, Inc. (NASDAQ:AAON) Plans Dividend Increase – $0.10 Per Share

AAON, Inc. (NASDAQ:AAON) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Stockholders of record on Tuesday, March 18th will be given a dividend of 0.10 per share by the construction company on Friday, March 28th. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. This is a 25.0% increase from AAON’s previous quarterly dividend of $0.08.

AAON has increased its dividend by an average of 8.1% per year over the last three years. AAON has a dividend payout ratio of 10.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect AAON to earn $2.93 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 10.9%.

AAON Stock Performance

Shares of NASDAQ AAON opened at $81.94 on Thursday. The company’s fifty day moving average price is $114.73 and its 200 day moving average price is $114.16. AAON has a 1 year low of $69.52 and a 1 year high of $144.07. The company has a market capitalization of $6.66 billion, a PE ratio of 36.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

Insider Buying and Selling

In other AAON news, VP Stephen E. Wakefield sold 5,362 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $130.99, for a total transaction of $702,368.38. Following the completion of the transaction, the vice president now owns 4,558 shares of the company’s stock, valued at $597,052.42. This trade represents a 54.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 18.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. CJS Securities raised shares of AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Friday, February 28th. StockNews.com downgraded shares of AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. DA Davidson decreased their price objective on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Robert W. Baird reduced 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. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

AAON announced that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are usually a sign 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.