Radin Capital Partners Inc. Has $5.23 Million Stake in Argan, Inc. (NYSE:AGX)

Radin Capital Partners Inc. lessened its holdings in shares of Argan, Inc. (NYSE:AGX) by 48.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,980 shares of the construction company’s stock after selling 121,120 shares during the quarter. Argan comprises 10.2% of Radin Capital Partners Inc.’s investment portfolio, making the stock its 6th largest position. Radin Capital Partners Inc.’s holdings in Argan were worth $5,231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC raised its holdings in shares of Argan by 39.6% during the 1st quarter. Parallel Advisors LLC now owns 1,029 shares of the construction company’s stock valued at $51,000 after buying an additional 292 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Argan by 20.1% during the 4th quarter. Legal & General Group Plc now owns 2,663 shares of the construction company’s stock valued at $100,000 after buying an additional 446 shares in the last quarter. Investors Research Corp purchased a new position in shares of Argan during the 1st quarter valued at about $30,000. California Public Employees Retirement System raised its holdings in shares of Argan by 5.3% during the 4th quarter. California Public Employees Retirement System now owns 15,374 shares of the construction company’s stock valued at $582,000 after buying an additional 775 shares in the last quarter. Finally, John G Ullman & Associates Inc. raised its holdings in shares of Argan by 1.0% during the 1st quarter. John G Ullman & Associates Inc. now owns 84,500 shares of the construction company’s stock valued at $4,221,000 after buying an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 85.08% of the company’s stock.

Shares of NYSE AGX traded down $1.58 during trading hours on Friday, reaching $39.04. 7,000 shares of the stock traded hands, compared to its average volume of 108,871. The stock has a market cap of $646.91 million, a P/E ratio of 31.11 and a beta of 0.69. Argan, Inc. has a 52-week low of $35.08 and a 52-week high of $51.95. The business’s 50-day moving average is $40.84.

Argan (NYSE:AGX) last announced its quarterly earnings data on Monday, June 10th. The construction company reported ($1.91) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($1.79). The firm had revenue of $49.50 million for the quarter, compared to analysts’ expectations of $52.60 million. Argan had a net margin of 4.46% and a return on equity of 5.49%. The business’s quarterly revenue was down 65.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 23rd were paid a $0.25 dividend. The ex-dividend date was Monday, July 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%.

A number of brokerages recently weighed in on AGX. TheStreet cut Argan from a “b” rating to a “c+” rating in a report on Monday, April 29th. Lake Street Capital raised their price objective on Argan from $56.00 to $62.00 and gave the company a “positive” rating in a report on Thursday, April 11th.

Argan Profile

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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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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