Argan, Inc. (NYSE:AGX) Position Reduced by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. cut its holdings in Argan, Inc. (NYSE:AGX) by 84.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,000 shares of the construction company’s stock after selling 21,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Argan were worth $269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AGX. Navellier & Associates Inc lifted its stake in Argan by 3.0% in the 2nd quarter. Navellier & Associates Inc now owns 14,780 shares of the construction company’s stock valued at $887,000 after acquiring an additional 435 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Argan by 43.3% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 8,195 shares of the construction company’s stock valued at $491,000 after acquiring an additional 2,475 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Argan in the 2nd quarter valued at approximately $123,000. Public Employees Retirement System of Ohio raised its stake in shares of Argan by 0.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 32,061 shares of the construction company’s stock worth $1,924,000 after purchasing an additional 290 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of Argan by 13.2% during the 2nd quarter. Sterling Capital Management LLC now owns 11,950 shares of the construction company’s stock worth $717,000 after purchasing an additional 1,393 shares in the last quarter. Institutional investors and hedge funds own 86.78% of the company’s stock.

Separately, BidaskClub upgraded Argan from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th.

Argan, Inc. (NYSE AGX) traded down $0.20 during midday trading on Friday, reaching $66.80. The company had a trading volume of 87,300 shares, compared to its average volume of 131,877. Argan, Inc. has a fifty-two week low of $56.90 and a fifty-two week high of $76.70. The firm has a market capitalization of $1,038.34, a PE ratio of 12.19 and a beta of 0.93.

Argan (NYSE:AGX) last posted its earnings results on Thursday, September 7th. The construction company reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.69. Argan had a return on equity of 28.23% and a net margin of 9.88%. The company had revenue of $259.80 million for the quarter, compared to analyst estimates of $217.75 million. During the same quarter last year, the company earned $1.29 earnings per share. The company’s revenue for the quarter was up 59.9% on a year-over-year basis.

The business also recently announced an annual dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 20th were issued a $1.00 dividend. This represents a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, October 19th. This is a positive change from Argan’s previous annual dividend of $0.70. Argan’s dividend payout ratio (DPR) is currently 18.25%.

In other Argan news, Director John Ronald Jr. Jeffrey purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were acquired at an average cost of $68.02 per share, for a total transaction of $68,020.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.50% of the stock is owned by company insiders.

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Argan Company Profile

Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.

Institutional Ownership by Quarter for Argan (NYSE:AGX)

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