Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Our common stock is quoted on the NASDAQ Global Select Market under the symbol “AAON”. The table below summarizes the intraday high and low reported sale prices for our common stock for the past two fiscal years. As of the close of business on February 22, 2021, there were 964 holders of record of our common stock.
Quarter Ended High Low
March 31, 2019 $46.69 $33.52
June 30, 2019 $52.50 $44.36
September 30, 2019 $53.27 $43.34
December 31, 2019 $51.07 $42.57
March 31, 2020 $60.00 $40.48
June 30, 2020 $59.35 $43.84
September 30, 2020 $61.24 $52.56
December 31, 2020 $69.41 $56.27
Dividends - At the discretion of the Board of Directors, we pay semi-annual cash dividends. Board approval is required to determine the date of declaration and amount for each semi-annual dividend payment.
Our recent dividends are as follows:
Declaration Date Record Date Payment Date Dividend per Share
May 18, 2018 June 8, 2018 July 6, 2018 $0.16
November 8, 2018 November 29, 2018 December 20, 2018 $0.16
May 20, 2019 June 3, 2019 July 1, 2019 $0.16
November 6, 2019 November 27, 2019 December 18, 2019 $0.16
May 15, 2020 June 3, 2020 July 1, 2020 $0.19
November 10, 2020 November 27, 2020 December 18, 2020 $0.19
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The following is a summary of our share-based compensation plans as of December 31, 2020:
EQUITY COMPENSATION PLAN INFORMATION
Plan category (a)
Number of securities to be issued upon exercise of outstanding options, warrants and rights
(b)
Weighted-average exercise price of outstanding options, warrants and rights
(c)
Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))
The 2007 Long-Term Incentive Plan 214,780 $ 18.80 —
The 2016 Long-Term Incentive Plan 525,281 $ 37.18 4,228,769
Repurchases during the fourth quarter of 2020, which include repurchases from our open market, 401(k) and employee repurchase programs, were as follows:
ISSUER PURCHASES OF EQUITY SECURITIES
(a)
Total
Number
of Shares
(or Units
(b)
Average
Price
Paid
(Per Share
(c)
Total Number
of Shares (or
Units) Purchased
as part of
Publicly Announced
(d)
Maximum Number (or
Approximate Dollar
Value) of Shares (or
Units) that may yet be
Purchased under the
Period Purchased) or Unit) Plans or Programs Plans or Programs
October 2020 48,353 $ 62.73 48,353 —
November 2020 50,651 64.42 50,651 —
December 2020 37,423 64.48 37,423 —
Total 136,427 $ 63.84 136,427 —
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Comparative Stock Performance Graph
The following performance graph compares our cumulative total shareholder return, the NASDAQ Composite and a peer group of publically traded U.S. industrial manufacturing companies in the air conditioning, ventilation, and heating exchange equipment markets from December 31, 2015 through December 31, 2020. Our peer group includes Lennox International, Inc., Trane Technologies plc (formerly Ingersoll-Rand plc), Johnson Controls International plc, and Carrier Global Corporation (formerly United Technologies Corporation). The graph assumes that $100 was invested at the close of trading December 31, 2015, with reinvestment of dividends. This table is not intended to forecast future performance of our Common Stock.
1 On March 2, 2020, Trane Technologies PLC (formerly known as Ingersoll-Rand plc) spun off its industrial assets, which made up over 50% of the company’s sales. Thus, historical stock performance prior to the divestiture is not fully representative of the current company’s assets.
2 On April 3, 2020, Carrier Global Corporation was spun off from its parent company, United Technologies Corporation. We have included Carrier's cumulative total shareholder return from April 3, 2020 through December 31, 2020 assuming $100 was invested at the close of trading on April 3, 2020.
This stock performance graph is not deemed to be “soliciting material” or otherwise be considered to be “filed” with the SEC or subject to Regulation 14A or 14C under the Securities Exchange Act of 1934 (Exchange Act) or to the liabilities of Section 18 of the Exchange Act, and should not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent the Company specifically incorporates it by reference into such a filing.
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Item 6. Selected Financial Data .
The following selected financial data should be read in conjunction with our Financial Statements and Supplementary Data thereto included under Item 8 of this report and Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in Item 7.
Years Ended December 31,
Results of Operations: 2020 2019 2018 2017 2016
(in thousands, except per share data)
Net sales $ 514,551 $ 469,333 $ 433,947 $ 405,232 $ 383,977
Net income $ 79,009 $ 53,711 $ 42,329 $ 53,830 $ 53,020
Earnings per share:
Basic $ 1.51 $ 1.03 $ 0.81 $ 1.02 $ 1.00
Diluted $ 1.49 $ 1.02 $ 0.80 $ 1.01 $ 0.99
Cash dividends declared per common share: $ 0.38 $ 0.32 $ 0.32 $ 0.26 $ 0.24
December 31,
Financial Position at End of Fiscal Year: 2020 2019 2018 2017 2016
(in thousands)
Working capital $ 161,218 $ 131,521 $ 93,167 $ 104,002 $ 102,287
Total assets 449,008 371,424 307,994 296,590 256,335
Revolving credit facility — — — — —
New market tax credit obligation 6,363 6,320 — — —
Total stockholders’ equity 350,865 290,140 249,443 238,925 208,410
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.