Royce & Associates LP lowered its stake in Argan, Inc. (NYSE:AGX) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 517,834 shares of the construction company’s stock after selling 106,847 shares during the period. Royce & Associates LP’s holdings in Argan were worth $20,786,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. California State Teachers Retirement System increased its position in shares of Argan by 1.6% in the third quarter. California State Teachers Retirement System now owns 22,939 shares of the construction company’s stock worth $901,000 after purchasing an additional 354 shares during the period. Cetera Advisors LLC grew its position in Argan by 0.8% in the third quarter. Cetera Advisors LLC now owns 55,248 shares of the construction company’s stock valued at $2,177,000 after acquiring an additional 413 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. bought a new position in Argan in the second quarter valued at about $26,000. Usca Ria LLC bought a new position in Argan in the third quarter valued at about $29,000. Finally, Parallel Advisors LLC grew its position in Argan by 41.9% in the fourth quarter. Parallel Advisors LLC now owns 2,538 shares of the construction company’s stock valued at $102,000 after acquiring an additional 750 shares during the last quarter. Institutional investors own 89.02% of the company’s stock.
In other Argan news, CFO David Hibbert Watson bought 1,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $35.79 per share, for a total transaction of $35,790.00. Following the completion of the transaction, the chief financial officer now directly owns 3,700 shares in the company, valued at approximately $132,423. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James W. Quinn bought 5,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $35.92 per share, for a total transaction of $179,600.00. Following the transaction, the director now owns 64,570 shares of the company’s stock, valued at $2,319,354.40. The disclosure for this purchase can be found here. Insiders own 8.13% of the company’s stock.
Argan stock traded up $0.97 during midday trading on Friday, reaching $46.73. The company’s stock had a trading volume of 3,840 shares, compared to its average volume of 133,900. Argan, Inc. has a 52 week low of $32.43 and a 52 week high of $51.95. The business has a 50-day moving average price of $42.19 and a 200-day moving average price of $39.89. The stock has a market cap of $703.97 million, a PE ratio of -19.09 and a beta of 0.49.
Argan (NYSE:AGX) last released its earnings results on Tuesday, December 10th. The construction company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.38). Argan had a negative net margin of 14.58% and a negative return on equity of 9.31%. The business had revenue of $58.40 million during the quarter, compared to the consensus estimate of $56.50 million. During the same quarter in the prior year, the firm earned $2.07 EPS. The business’s revenue was down 49.9% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 23rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Wednesday, January 22nd.
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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