Investment Management of Virginia LLC trimmed its holdings in shares of Argan, Inc. (NYSE:AGX) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,844 shares of the construction company’s stock after selling 738 shares during the quarter. Argan accounts for approximately 1.7% of Investment Management of Virginia LLC’s investment portfolio, making the stock its 16th largest holding. Investment Management of Virginia LLC owned approximately 1.16% of Argan worth $7,106,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in AGX. Russell Investments Group Ltd. lifted its position in shares of Argan by 215.8% during the third quarter. Russell Investments Group Ltd. now owns 561,481 shares of the construction company’s stock worth $22,062,000 after purchasing an additional 383,668 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Argan by 30.1% during the second quarter. William Blair Investment Management LLC now owns 506,786 shares of the construction company’s stock valued at $20,555,000 after buying an additional 117,240 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of Argan during the second quarter valued at $4,248,000. FMR LLC increased its stake in shares of Argan by 12.8% during the first quarter. FMR LLC now owns 713,166 shares of the construction company’s stock valued at $35,623,000 after buying an additional 81,013 shares during the period. Finally, Shaker Investments LLC OH increased its stake in shares of Argan by 60.7% during the third quarter. Shaker Investments LLC OH now owns 108,312 shares of the construction company’s stock valued at $4,256,000 after buying an additional 40,907 shares during the period. Institutional investors and hedge funds own 84.57% of the company’s stock.
Shares of AGX stock traded down $0.41 during trading hours on Monday, reaching $40.39. 6,491 shares of the company’s stock were exchanged, compared to its average volume of 119,403. Argan, Inc. has a 1 year low of $35.08 and a 1 year high of $51.95. The stock has a market cap of $646.59 million, a PE ratio of 129.25 and a beta of 0.51. The stock’s fifty day moving average price is $38.98 and its two-hundred day moving average price is $41.99.
Argan (NYSE:AGX) last issued its quarterly earnings results on Monday, September 9th. The construction company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.04. Argan had a return on equity of 1.36% and a net margin of 0.50%. The business had revenue of $63.10 million for the quarter, compared to analyst estimates of $67.65 million. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The company’s revenue was down 53.8% on a year-over-year basis.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Tuesday, October 22nd.
In other news, VP Richard H. Deily purchased 750 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was purchased at an average cost of $39.25 per share, for a total transaction of $29,437.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.13% of the stock is currently owned by insiders.
Separately, ValuEngine upgraded Argan from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.
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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