Argan, Inc. (NYSE:AGX) reached a new 52-week low during trading on Wednesday . The stock traded as low as $34.94 and last traded at $35.03, with a volume of 56989 shares changing hands. The stock had previously closed at $35.69.
Separately, ValuEngine upgraded shares of Argan from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.
The company has a market capitalization of $545.49 million, a PE ratio of 114.50 and a beta of 0.51. The stock’s 50 day moving average is $38.65 and its 200 day moving average is $40.57.
Argan (NYSE:AGX) last released its quarterly earnings data on Monday, September 9th. The construction company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Argan had a net margin of 0.50% and a return on equity of 1.36%. The business had revenue of $63.10 million during the quarter, compared to analyst estimates of $67.65 million. During the same period in the previous year, the business earned $1.08 EPS. Argan’s revenue was down 53.8% compared to the same quarter last year.
In related news, VP Richard H. Deily purchased 750 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was purchased at an average cost of $39.25 per share, with a total value of $29,437.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.13% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Ashford Capital Management Inc. boosted its stake in Argan by 1.6% in the 3rd quarter. Ashford Capital Management Inc. now owns 738,734 shares of the construction company’s stock worth $29,025,000 after purchasing an additional 11,877 shares during the period. Northern Trust Corp increased its position in shares of Argan by 2.5% during the second quarter. Northern Trust Corp now owns 180,533 shares of the construction company’s stock valued at $7,323,000 after buying an additional 4,419 shares during the period. Shaker Investments LLC OH lifted its holdings in shares of Argan by 60.7% in the third quarter. Shaker Investments LLC OH now owns 108,312 shares of the construction company’s stock worth $4,256,000 after buying an additional 40,907 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Argan by 215.8% in the third quarter. Russell Investments Group Ltd. now owns 561,481 shares of the construction company’s stock worth $22,062,000 after buying an additional 383,668 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Argan by 77.6% in the third quarter. First Trust Advisors LP now owns 71,934 shares of the construction company’s stock valued at $2,826,000 after acquiring an additional 31,441 shares during the period. Institutional investors own 88.57% of the company’s stock.
Argan Company Profile (NYSE:AGX)
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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