Casey Kidwell, Vice President of Administration at AAON , Inc. (NASDAQ:AAON), recently sold a significant portion of the company's stock. According to a recent SEC filing, Kidwell sold 4,796 shares of common stock at an average price of $136.38 per share, totaling approximately $654,078.
In addition to the sale, Kidwell exercised stock options to acquire shares at various prices. The transactions included acquiring 2,411 shares at $42.97, 1,554 shares at $36.13, and 831 shares at $35.41, with a total value of $189,172 for the acquisitions.
Following these transactions, Kidwell holds 4,953 shares directly and 1,710 shares indirectly through a 401(k) plan.
In other recent news, AAON, Inc. reported its Q3 2024 financial results, revealing 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 contraction in gross margin to 34.9%, the company marked one of its strongest quarters with a 25.3% adjusted EBITDA margin. A remarkable demand surge, particularly for data center equipment, contributed to a 27% year-to-date increase in bookings and a 32% increase in total backlog from the previous year. In response to this demand, AAON is expanding its production capacity with a new facility in Memphis, Tennessee, and expansions in Oregon and Texas. While the company anticipates a temporary softening in demand, it maintains a positive outlook for recovery and growth into 2025. These are recent developments, which also include a substantial $174 million liquid cooling order that is expected to convert mainly in the first half of 2025. However, analysts have highlighted a decline in gross profit and margin due to lower volumes in the AAON Oklahoma segment and temporary inefficiencies at BASX.
InvestingPro Insights
AAON's recent stock performance and financial metrics provide additional context to Casey Kidwell's recent stock transactions. According to InvestingPro data, AAON has seen a remarkable 134.44% price total return over the past year, with a significant 57.46% return in just the last three months. This strong performance aligns with the timing of Kidwell's decision to sell shares at $136.38, which is near the stock's 52-week high.
The company's financial health appears robust, with InvestingPro Tips indicating that AAON has maintained dividend payments for 19 consecutive years and operates with a moderate level of debt. Additionally, the company's liquid assets exceed short-term obligations, suggesting a solid financial foundation.
However, investors should note that AAON is trading at high valuation multiples. The stock's P/E ratio stands at 59.23, which is considered elevated. An InvestingPro Tip also points out that AAON is trading at a high P/E ratio relative to near-term earnings growth, with a PEG ratio of 5.19 for the last twelve months as of Q3 2024.
For those interested in a deeper analysis, InvestingPro offers 21 additional tips for AAON, providing a more comprehensive view of the company's financial position and market performance.
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