Royce & Associates LP boosted its position in shares of Argan, Inc. (NYSE:AGX) by 10.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 565,646 shares of the construction company’s stock after purchasing an additional 53,783 shares during the period. Royce & Associates LP’s holdings in Argan were worth $24,323,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in AGX. Radin Capital Partners Inc. acquired a new stake in Argan during the third quarter worth about $12,234,000. Dimensional Fund Advisors LP boosted its stake in shares of Argan by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,082,183 shares of the construction company’s stock valued at $44,315,000 after purchasing an additional 170,266 shares in the last quarter. Heartland Advisors Inc. boosted its stake in shares of Argan by 124.7% in the 2nd quarter. Heartland Advisors Inc. now owns 224,700 shares of the construction company’s stock valued at $9,201,000 after purchasing an additional 124,700 shares in the last quarter. Investment Management of Virginia LLC boosted its stake in shares of Argan by 208.7% in the 2nd quarter. Investment Management of Virginia LLC now owns 174,942 shares of the construction company’s stock valued at $7,164,000 after purchasing an additional 118,272 shares in the last quarter. Finally, Dean Investment Associates LLC acquired a new stake in shares of Argan in the 2nd quarter valued at approximately $3,819,000. Hedge funds and other institutional investors own 74.95% of the company’s stock.
AGX opened at $43.47 on Friday. Argan, Inc. has a 1-year low of $34.90 and a 1-year high of $60.05. The company has a market capitalization of $676.78 million, a PE ratio of 14.64 and a beta of 0.74.
Separately, TheStreet upgraded shares of Argan from a “c+” rating to a “b-” rating in a research note on Wednesday, September 12th.
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Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets. The company's Power Industry Services segment offers engineering, procurement, and construction contracting services to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for 44 projects with approximately 15,000 megawatts of power-generating capacity.
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