John G Ullman & Associates Inc. Has $7.59 Million Position in Argan, Inc. (NYSE:AGX)

John G Ullman & Associates Inc. lessened its stake in shares of Argan, Inc. (NYSE:AGX) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,129 shares of the construction company’s stock after selling 1,736 shares during the period. Argan accounts for 1.2% of John G Ullman & Associates Inc.’s portfolio, making the stock its 21st largest holding. John G Ullman & Associates Inc.’s holdings in Argan were worth $7,586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of Argan by 123.2% in the first quarter. Wellington Management Group LLP now owns 214,700 shares of the construction company’s stock valued at $8,689,000 after acquiring an additional 118,500 shares during the period. State Street Corp boosted its position in shares of Argan by 27.9% in the first quarter. State Street Corp now owns 376,082 shares of the construction company’s stock valued at $15,265,000 after acquiring an additional 82,024 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Argan by 9.9% in the first quarter. Dimensional Fund Advisors LP now owns 763,161 shares of the construction company’s stock valued at $30,976,000 after acquiring an additional 69,059 shares during the period. Wasatch Advisors LP boosted its position in shares of Argan by 73.0% in the first quarter. Wasatch Advisors LP now owns 151,726 shares of the construction company’s stock valued at $6,140,000 after acquiring an additional 64,007 shares during the period. Finally, Royce & Associates LP lifted its position in Argan by 44.5% in the first quarter. Royce & Associates LP now owns 160,327 shares of the construction company’s stock worth $6,488,000 after purchasing an additional 49,350 shares during the period. Institutional investors and hedge funds own 79.43% of the company’s stock.

Analyst Upgrades and Downgrades

AGX has been the subject of several research reports. Lake Street Capital raised their target price on Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. StockNews.com raised Argan from a “buy” rating to a “strong-buy” rating in a research report on Monday.

Argan Stock Performance

Shares of NYSE AGX traded up $0.86 during midday trading on Friday, reaching $61.55. 91,322 shares of the company traded hands, compared to its average volume of 71,882. The firm has a market cap of $814.92 million, a PE ratio of 25.79 and a beta of 0.49. The stock’s 50-day simple moving average is $49.73 and its 200-day simple moving average is $47.02. Argan, Inc. has a 12 month low of $37.37 and a 12 month high of $62.19.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, April 11th. The construction company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. The company had revenue of $164.55 million during the quarter, compared to analysts’ expectations of $162.05 million. Argan had a return on equity of 11.37% and a net margin of 5.64%. The business’s revenue was up 38.5% on a year-over-year basis. During the same period last year, the business earned ($0.46) earnings per share.

Argan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.95%. Argan’s dividend payout ratio (DPR) is presently 50.21%.

About Argan

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.