Stephen E. Wakefield, Vice President of AAON , Inc. (NASDAQ:AAON), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Wakefield sold a total of 5,750 shares of AAON common stock, generating approximately $804,180. These transactions were completed on November 25, 2024, at prices ranging from $138.60 to $141.10 per share.
Following these sales, Wakefield retains 9,920 shares of AAON in direct ownership. Additionally, he holds 10,743 shares indirectly through a 401(k) plan. The filing provides transparency into the trading activities of company executives, offering investors insight into insider confidence and management's view of the company's stock value.
In other recent news, AAON, Inc. has reported a growth and expansion in its Q3 2024 financial results. The company announced a 4.9% increase in revenue to $327.3 million and an 8.6% rise in diluted earnings per share to $0.63. Despite a decrease in gross margin to 34.9%, AAON achieved a 25.3% adjusted EBITDA margin, marking one of its strongest quarters.
In addition, AAON has partnered with industry leaders and universities to meet the U.S. Department of Energy's Better Buildings Commercial Building Heat Pump Technology Challenge. This collaboration involves research and development initiatives aimed at producing innovative solutions to meet the DOE's objectives.
Furthermore, AAON has seen a significant demand surge, particularly for data center equipment, leading to a 27% year-to-date increase in bookings and a 32% increase in total backlog from the previous year. The company is currently expanding its production capacity and anticipates a softening demand in the short term but remains optimistic for recovery and growth into 2025. These are some of the recent developments for AAON.
InvestingPro Insights
AAON's recent stock performance and financial metrics provide additional context to Stephen E. Wakefield's decision to sell shares. According to InvestingPro data, AAON's stock has shown remarkable strength, with a 116.48% total return over the past year and a 76.17% return in the last six months. The company is currently trading near its 52-week high, with its price at 97.65% of the peak.
Financially, AAON appears robust with a market capitalization of $11.41 billion and revenue of $1.21 billion over the last twelve months as of Q3 2024. The company's profitability is evident, with an operating income margin of 20.88% and an EBITDA growth of 22.1% during the same period.
However, investors should note that AAON is trading at high valuation multiples. The P/E ratio stands at 59.55, which is considered elevated. An InvestingPro Tip highlights that AAON is trading at a high earnings multiple relative to its near-term earnings growth, with a PEG ratio of 5.24.
Another InvestingPro Tip worth considering is that AAON has maintained dividend payments for 19 consecutive years, indicating a commitment to shareholder returns despite the current low dividend yield of 0.23%.
For investors seeking a more comprehensive analysis, InvestingPro offers 19 additional tips for AAON, providing a deeper understanding of the company's financial health and market position.
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