Parametric Portfolio Associates LLC Sells 5,515 Shares of Argan, Inc. (AGX)
Parametric Portfolio Associates LLC reduced its position in shares of Argan, Inc. (NYSE:AGX) by 37.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,090 shares of the construction company’s stock after selling 5,515 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.06% of Argan worth $545,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Globeflex Capital L P grew its position in shares of Argan by 1,106.6% during the 2nd quarter. Globeflex Capital L P now owns 17,327 shares of the construction company’s stock valued at $1,040,000 after purchasing an additional 15,891 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Argan during the 2nd quarter valued at $181,000. ETRADE Capital Management LLC grew its position in shares of Argan by 3.6% during the 2nd quarter. ETRADE Capital Management LLC now owns 11,968 shares of the construction company’s stock valued at $718,000 after purchasing an additional 418 shares in the last quarter. FMR LLC grew its position in shares of Argan by 1.4% during the 2nd quarter. FMR LLC now owns 477,225 shares of the construction company’s stock valued at $28,634,000 after purchasing an additional 6,400 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Argan by 12.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,417,173 shares of the construction company’s stock valued at $85,031,000 after purchasing an additional 156,786 shares in the last quarter. Hedge funds and other institutional investors own 85.60% of the company’s stock.
Separately, BidaskClub lowered shares of Argan from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.
In related news, Director John Ronald Jr. Jeffrey acquired 1,500 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was bought at an average cost of $62.49 per share, with a total value of $93,735.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.50% of the company’s stock.
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Shares of Argan, Inc. (AGX) opened at $59.75 on Friday. Argan, Inc. has a fifty-two week low of $56.90 and a fifty-two week high of $76.70. The stock has a market cap of $928.74, a price-to-earnings ratio of 10.90 and a beta of 0.93.
Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, September 7th. The construction company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.69. Argan had a net margin of 9.88% and a return on equity of 28.23%. The company had revenue of $259.80 million during the quarter, compared to the consensus estimate of $217.75 million. During the same period in the previous year, the firm posted $1.29 EPS. The firm’s revenue was up 59.9% compared to the same quarter last year.
The business also recently disclosed an annual dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 20th were issued a dividend of $1.00 per share. This is an increase from Argan’s previous annual dividend of $0.70. This represents a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, October 19th. Argan’s payout ratio is currently 18.25%.
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.
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