Tulsa, OK—Casey Kidwell, Vice President of Administration at AAON , Inc. (NASDAQ:AAON), recently sold a portion of the company's common stock, according to a recent SEC filing. On November 18, Kidwell executed a sale of 1,421 shares at a price of $135.14 each, amounting to a total transaction value of approximately $192,033.
Prior to the sale, Kidwell acquired the same number of shares through a stock option exercise at a price of $62.04 per share, totaling $88,158. Following these transactions, Kidwell holds 4,953 shares directly. Additionally, 1,710 shares are held indirectly through a 401(k) plan.
The transactions reflect Kidwell's ongoing management of stock holdings within the company, which specializes in air conditioning and heating equipment.
In other recent news, AAON, Inc. has reported significant growth and expansion in its Q3 2024 financial results, with 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 achieved a 25.3% adjusted EBITDA margin, marking one of its strongest quarters. Additionally, AAON experienced a 27% year-to-date surge in bookings and a 32% increase in total backlog from the previous year, primarily driven by demand for data center equipment.
In other recent developments, AAON has partnered with industry leaders to meet the U.S. Department of Energy's Better Buildings Commercial Building Heat Pump Technology Challenge. The company is collaborating with long-time partner Copeland and academic institutions including Oklahoma State University, Montana State University, and the University of Maryland to develop advanced HVAC technologies that align with the DOE's regulations.
These collaborations and financial results are recent developments that illustrate AAON's commitment to innovation and growth. The company is expanding its production capacity and despite anticipating a temporary softening in demand, AAON remains optimistic for recovery and growth into 2025. The company's focus is on long-term growth and efficiency, with restructuring efforts underway to manage operational risks.
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 experienced a remarkable 108.35% price total return over the past year, with a particularly strong 75.28% return in the last six months. This robust performance aligns with the timing of Kidwell's decision to exercise options and sell a portion of shares.
The company's current P/E ratio of 55.76 suggests that AAON is trading at a premium compared to many peers in the industry. This high valuation is supported by an InvestingPro Tip indicating that AAON is "Trading at a high earnings multiple." Despite this elevated valuation, the company has demonstrated solid financial performance, with a revenue of $1.21 billion in the last twelve months and an operating income margin of 20.88%.
Another noteworthy InvestingPro Tip reveals that AAON "Has maintained dividend payments for 19 consecutive years," highlighting the company's commitment to shareholder returns. This consistent dividend history, combined with the strong stock performance, may explain why executives like Kidwell might choose to realize some gains while maintaining a significant stake in the company.
For investors seeking a more comprehensive analysis, InvestingPro offers 18 additional tips for AAON, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.