Fiera Capital Corp trimmed its holdings in shares of Argan, Inc. (NYSE:AGX) by 13.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,772 shares of the construction company’s stock after selling 19,514 shares during the quarter. Fiera Capital Corp owned 0.80% of Argan worth $7,487,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of AGX. Teachers Advisors LLC increased its position in shares of Argan by 2.8% during the fourth quarter. Teachers Advisors LLC now owns 35,227 shares of the construction company’s stock valued at $2,485,000 after acquiring an additional 954 shares during the last quarter. Bank of Montreal Can increased its position in shares of Argan by 27.1% during the first quarter. Bank of Montreal Can now owns 6,950 shares of the construction company’s stock valued at $460,000 after acquiring an additional 1,482 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Argan by 5.5% during the first quarter. Nationwide Fund Advisors now owns 20,897 shares of the construction company’s stock valued at $1,382,000 after acquiring an additional 1,088 shares during the last quarter. Strs Ohio increased its position in shares of Argan by 1.6% during the first quarter. Strs Ohio now owns 12,400 shares of the construction company’s stock valued at $820,000 after acquiring an additional 200 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Argan by 0.6% during the first quarter. First Trust Advisors LP now owns 86,941 shares of the construction company’s stock valued at $5,751,000 after acquiring an additional 518 shares during the last quarter. 86.65% of the stock is owned by institutional investors.
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In related news, Director John Ronald Jr. Jeffrey bought 1,000 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was acquired at an average cost of $60.95 per share, for a total transaction of $60,950.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.50% of the stock is currently owned by insiders.
Shares of Argan, Inc. (NYSE:AGX) opened at 61.35 on Friday. The stock has a market capitalization of $953.56 million, a P/E ratio of 11.30 and a beta of 0.91. The company’s 50 day moving average price is $62.29 and its 200-day moving average price is $64.24. Argan, Inc. has a 12 month low of $54.00 and a 12 month high of $76.70.
Argan (NYSE:AGX) last announced its earnings results on Thursday, September 7th. The construction company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.69. The business had revenue of $259.80 million during the quarter, compared to analyst estimates of $217.75 million. Argan had a net margin of 9.88% and a return on equity of 28.23%. The company’s quarterly revenue was up 59.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS. Equities analysts predict that Argan, Inc. will post $4.82 earnings per share for the current year.
The business also recently announced an annual dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 20th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, October 19th. This is a positive change from Argan’s previous annual dividend of $0.70. This represents a yield of 1.63%. Argan’s payout ratio is currently 12.77%.
AGX has been the subject of a number of research analyst reports. Lake Street Capital increased their price target on Argan from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, June 8th. BidaskClub downgraded Argan from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Finally, Sidoti initiated coverage on Argan in a research report on Wednesday, June 28th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.00.
Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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