Oak Associates Ltd. OH reduced its holdings in shares of Argan, Inc. (NYSE:AGX) by 36.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,255 shares of the construction company’s stock after selling 2,995 shares during the quarter. Oak Associates Ltd. OH’s holdings in Argan were worth $315,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in AGX. Meeder Asset Management Inc. boosted its stake in shares of Argan by 117.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,775 shares of the construction company’s stock valued at $106,000 after buying an additional 958 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Argan during the 2nd quarter valued at approximately $106,000. Victory Capital Management Inc. boosted its stake in shares of Argan by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,001 shares of the construction company’s stock valued at $120,000 after buying an additional 301 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in shares of Argan during the 2nd quarter valued at approximately $123,000. Finally, Quantbot Technologies LP purchased a new position in shares of Argan during the 2nd quarter valued at approximately $181,000. Institutional investors own 86.52% of the company’s stock.
AGX has been the subject of several research analyst reports. BidaskClub upgraded Argan from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Sidoti initiated coverage on Argan in a research note on Wednesday, June 28th. They set a “neutral” rating for the company.
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Argan, Inc. (NYSE:AGX) traded down 1.12% during trading on Tuesday, hitting $66.40. The stock had a trading volume of 32,290 shares. The company’s 50-day moving average is $64.36 and its 200 day moving average is $63.97. Argan, Inc. has a 52 week low of $54.00 and a 52 week high of $76.70. The firm has a market cap of $1.03 billion, a PE ratio of 12.23 and a beta of 0.92.
Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, September 7th. The construction company reported $1.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.69. The company had revenue of $259.80 million for the quarter, compared to the consensus estimate of $217.75 million. Argan had a return on equity of 28.23% and a net margin of 9.88%. The company’s revenue for the quarter was up 59.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 EPS. Equities analysts expect that Argan, Inc. will post $4.82 EPS for the current fiscal year.
The firm also recently declared an annual dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 20th will be given a $1.00 dividend. This is an increase from Argan’s previous annual dividend of $0.70. This represents a yield of 1.63%. The ex-dividend date is Thursday, October 19th. Argan’s payout ratio is currently 12.77%.
In other Argan news, Director John Ronald Jr. Jeffrey purchased 1,500 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were bought at an average cost of $62.49 per share, with a total value of $93,735.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.64% of the company’s stock.
Argan Company Profile
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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