Macquarie Group Ltd. lowered its stake in shares of Argan, Inc. (NYSE:AGX) by 50.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,600 shares of the construction company’s stock after selling 4,700 shares during the quarter. Macquarie Group Ltd.’s holdings in Argan were worth $207,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. KDI Capital Partners LLC acquired a new stake in shares of Argan in the 4th quarter valued at $450,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Argan by 43.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,931 shares of the construction company’s stock valued at $3,597,000 after purchasing an additional 24,213 shares in the last quarter. Heartland Advisors Inc. acquired a new stake in shares of Argan in the 4th quarter valued at $4,500,000. HPM Partners LLC boosted its holdings in shares of Argan by 234.4% in the 4th quarter. HPM Partners LLC now owns 14,296 shares of the construction company’s stock valued at $643,000 after purchasing an additional 10,021 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Argan by 17.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 104,639 shares of the construction company’s stock valued at $4,709,000 after purchasing an additional 15,455 shares in the last quarter. 83.78% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on AGX. TheStreet downgraded Argan from a “b-” rating to a “c+” rating in a report on Tuesday, February 6th. Lake Street Capital raised Argan from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Wednesday, March 28th.
Shares of AGX stock opened at $37.80 on Tuesday. The firm has a market capitalization of $584.63, a price-to-earnings ratio of 8.16 and a beta of 0.90. Argan, Inc. has a fifty-two week low of $36.30 and a fifty-two week high of $72.13.
Argan (NYSE:AGX) last issued its earnings results on Thursday, April 12th. The construction company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.28). The business had revenue of $169.58 million during the quarter, compared to analyst estimates of $159.30 million. Argan had a net margin of 8.07% and a return on equity of 21.25%. The company’s revenue for the quarter was down 18.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, April 19th.
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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, start-up, and operation services for approximately 76 facilities with approximately 14,500 megawatts of power-generating capacity.
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