Shaker Investments LLC OH increased its stake in shares of Argan, Inc. (NYSE:AGX) by 60.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,312 shares of the construction company’s stock after purchasing an additional 40,907 shares during the period. Argan accounts for about 2.8% of Shaker Investments LLC OH’s holdings, making the stock its 10th biggest position. Shaker Investments LLC OH owned about 0.69% of Argan worth $4,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the stock. Pitcairn Co. raised its position in shares of Argan by 7.0% during the 2nd quarter. Pitcairn Co. now owns 6,966 shares of the construction company’s stock worth $283,000 after purchasing an additional 454 shares during the last quarter. James Investment Research Inc. raised its position in shares of Argan by 3.9% during the 2nd quarter. James Investment Research Inc. now owns 15,815 shares of the construction company’s stock worth $641,000 after purchasing an additional 600 shares during the last quarter. Swiss National Bank raised its holdings in Argan by 2.4% in the 2nd quarter. Swiss National Bank now owns 26,100 shares of the construction company’s stock valued at $1,059,000 after acquiring an additional 600 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Argan by 10.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 6,513 shares of the construction company’s stock valued at $264,000 after acquiring an additional 640 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. acquired a new position in Argan in the 2nd quarter valued at $26,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.
Separately, ValuEngine upgraded Argan from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.
AGX traded down $0.50 during trading on Monday, hitting $39.04. The company’s stock had a trading volume of 6,329 shares, compared to its average volume of 99,030. The firm’s 50 day moving average price is $39.58 and its 200-day moving average price is $42.73. The stock has a market cap of $618.01 million, a PE ratio of 124.09 and a beta of 0.53. Argan, Inc. has a twelve month low of $35.08 and a twelve month high of $51.95.
Argan (NYSE:AGX) last released its quarterly earnings data on Monday, September 9th. The construction company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The business had revenue of $63.10 million during the quarter, compared to the consensus estimate of $67.65 million. Argan had a return on equity of 1.36% and a net margin of 0.50%. The business’s revenue for the quarter was down 53.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.56%.
In other news, VP Richard H. Deily acquired 750 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was acquired at an average cost of $39.25 per share, for a total transaction of $29,437.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.13% of the company’s stock.
Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, project development, technical, and consulting services to the power generation and renewable energy markets. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.
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