AAON (AAON) Declares $0.12 Dividend
AAON said on March 1, 2023 that its board of directors declared a regular semi-annual dividend of $0.12 per share ($0.24 annualized). Previously, the company paid $0.24 per share.
Shares must be purchased before the ex-div date of March 10, 2023 to qualify for the dividend. Shareholders of record as of March 13, 2023 will receive the payment on March 31, 2023.
At the current share price of $90.57 / share, the stock's dividend yield is 0.26%. Looking back five years and taking a sample every week, the average dividend yield has been 0.71%, the lowest has been 0.47%, and the highest has been 1.54%. The standard deviation of yields is 0.20 (n=236).
The current dividend yield is 2.18 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.50%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 14.78% Downside
As of March 3, 2023, the average one-year price target for AAON is $77.18. The forecasts range from a low of $75.75 to a high of $80.85. The average price target represents a decrease of 14.78% from its latest reported closing price of $90.57.
The projected annual revenue for AAON is $1,029MM, an increase of 15.78%. The projected annual non-GAAP EPS is $2.49.
What is the Fund Sentiment?
There are 525 funds or institutions reporting positions in AAON. This is an increase of 47 owner(s) or 9.83% in the last quarter. Average portfolio weight of all funds dedicated to AAON is 0.23%, an increase of 12.91%. Total shares owned by institutions increased in the last three months by 0.23% to 48,632K shares. The put/call ratio of AAON is 0.66, indicating a bullish outlook.
What are large shareholders doing?
Kayne Anderson Rudnick Investment Management holds 3,237K shares representing 6.05% ownership of the company. In it's prior filing, the firm reported owning 3,538K shares, representing a decrease of 9.28%. The firm decreased its portfolio allocation in AAON by 28.81% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 3,114K shares representing 5.82% ownership of the company. In it's prior filing, the firm reported owning 3,070K shares, representing an increase of 1.42%. The firm increased its portfolio allocation in AAON by 29.01% over the last quarter.
Conestoga Capital Advisors holds 2,513K shares representing 4.70% ownership of the company. In it's prior filing, the firm reported owning 2,529K shares, representing a decrease of 0.63%. The firm increased its portfolio allocation in AAON by 32.84% over the last quarter.
PSGAX - Virtus KAR Small-Cap Growth Fund holds 2,321K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 2,607K shares, representing a decrease of 12.32%. The firm increased its portfolio allocation in AAON by 37.72% over the last quarter.
CCASX - Conestoga Small Cap Fund Investors Class holds 1,752K shares representing 3.28% ownership of the company. No change in the last quarter.
AAON Background Information
(This description is provided by the company.)
AAON, Inc. is engaged in the engineering, manufacturing, marketing and sale of air conditioning and heating equipment consisting of standard, semi-custom and custom rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils and controls. Since the founding of AAON in 1988, AAON has maintained a commitment to design, develop, manufacture and deliver heating and cooling products to perform beyond all expectations and demonstrate the value of AAON to its customers.
This story originally appeared on Fintel.