Argan, Inc. (AGX) Stake Decreased by IndexIQ Advisors LLC

IndexIQ Advisors LLC lessened its holdings in shares of Argan, Inc. (NYSE:AGX) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,932 shares of the construction company’s stock after selling 3,996 shares during the period. IndexIQ Advisors LLC owned approximately 0.31% of Argan worth $1,852,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AGX. Radin Capital Partners Inc. bought a new position in shares of Argan during the 3rd quarter valued at about $12,234,000. Dimensional Fund Advisors LP raised its position in Argan by 13.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,227,671 shares of the construction company’s stock valued at $52,790,000 after buying an additional 145,488 shares during the last quarter. Ashford Capital Management Inc. raised its position in Argan by 21.3% in the 3rd quarter. Ashford Capital Management Inc. now owns 683,832 shares of the construction company’s stock valued at $29,405,000 after buying an additional 120,233 shares during the last quarter. BlackRock Inc. raised its position in Argan by 6.4% in the 2nd quarter. BlackRock Inc. now owns 1,045,232 shares of the construction company’s stock valued at $42,802,000 after buying an additional 63,141 shares during the last quarter. Finally, Royce & Associates LP raised its position in Argan by 10.5% in the 3rd quarter. Royce & Associates LP now owns 565,646 shares of the construction company’s stock valued at $24,323,000 after buying an additional 53,783 shares during the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

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Shares of Argan stock opened at $46.37 on Monday. Argan, Inc. has a 52-week low of $34.90 and a 52-week high of $47.66. The company has a market capitalization of $722.01 million, a P/E ratio of 11.74 and a beta of 0.90.

Argan (NYSE:AGX) last announced its earnings results on Thursday, December 6th. The construction company reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $1.73. Argan had a return on equity of 16.62% and a net margin of 10.86%. The business had revenue of $116.50 million for the quarter, compared to analyst estimates of $101.60 million. During the same quarter last year, the firm earned $1.09 EPS. Argan’s revenue for the quarter was down 50.0% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 31st. Investors of record on Thursday, January 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Wednesday, January 23rd.

About Argan

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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