Northern Trust Corp cut its stake in shares of Argan, Inc. (NYSE:AGX) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 176,530 shares of the construction company’s stock after selling 1,287 shares during the period. Northern Trust Corp owned about 1.13% of Argan worth $6,681,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in AGX. Palo Capital Inc. boosted its position in shares of Argan by 0.9% during the 3rd quarter. Palo Capital Inc. now owns 58,193 shares of the construction company’s stock worth $2,502,000 after purchasing an additional 534 shares in the last quarter. California Public Employees Retirement System lifted its position in Argan by 5.3% in the 4th quarter. California Public Employees Retirement System now owns 15,374 shares of the construction company’s stock valued at $582,000 after acquiring an additional 775 shares in the last quarter. Investment Management of Virginia LLC lifted its position in Argan by 0.7% in the 4th quarter. Investment Management of Virginia LLC now owns 175,753 shares of the construction company’s stock valued at $6,651,000 after acquiring an additional 1,261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Argan by 19.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,538 shares of the construction company’s stock valued at $361,000 after acquiring an additional 1,536 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in Argan by 19.6% in the 4th quarter. Cerity Partners LLC now owns 11,027 shares of the construction company’s stock valued at $417,000 after buying an additional 1,808 shares during the last quarter. Institutional investors own 84.89% of the company’s stock.
Several research firms have commented on AGX. TheStreet lowered shares of Argan from a “b” rating to a “c+” rating in a research note on Monday, April 29th. Lake Street Capital raised their price target on shares of Argan from $56.00 to $62.00 and gave the stock a “positive” rating in a research note on Thursday, April 11th.
Argan stock traded down $0.01 during mid-day trading on Thursday, reaching $48.13. The company’s stock had a trading volume of 30,000 shares, compared to its average volume of 126,639. Argan, Inc. has a 12-month low of $34.90 and a 12-month high of $51.95. The firm has a market capitalization of $749.97 million, a price-to-earnings ratio of 14.27 and a beta of 0.91.
Argan (NYSE:AGX) last announced its quarterly earnings results on Wednesday, April 10th. The construction company reported ($0.04) EPS for the quarter. Argan had a net margin of 10.79% and a return on equity of 14.04%. The firm had revenue of $87.66 million during the quarter.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Thursday, April 18th.
Argan Company Profile
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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