Royal Bank of Canada Has $511,000 Position in Argan, Inc. (AGX)
Royal Bank of Canada trimmed its stake in shares of Argan, Inc. (NYSE:AGX) by 4.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,532 shares of the construction company’s stock after selling 384 shares during the period. Royal Bank of Canada owned about 0.05% of Argan worth $511,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Argan by 12.4% during the second quarter. Vanguard Group Inc. now owns 1,417,173 shares of the construction company’s stock worth $85,031,000 after acquiring an additional 156,786 shares during the period. Renaissance Technologies LLC grew its holdings in Argan by 8.6% during the second quarter. Renaissance Technologies LLC now owns 1,343,400 shares of the construction company’s stock worth $80,604,000 after acquiring an additional 106,545 shares during the period. Prudential Financial Inc. grew its holdings in Argan by 5.0% during the second quarter. Prudential Financial Inc. now owns 639,082 shares of the construction company’s stock worth $38,345,000 after acquiring an additional 30,270 shares during the period. FMR LLC grew its holdings in Argan by 1.4% during the second quarter. FMR LLC now owns 477,225 shares of the construction company’s stock worth $28,634,000 after acquiring an additional 6,400 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Argan by 184.6% during the second quarter. Goldman Sachs Group Inc. now owns 281,592 shares of the construction company’s stock worth $16,895,000 after acquiring an additional 182,638 shares during the period. 83.31% of the stock is currently owned by hedge funds and other institutional investors.
Argan, Inc. (AGX) opened at $66.80 on Monday. The stock has a market capitalization of $1,038.32, a P/E ratio of 12.19 and a beta of 0.93. Argan, Inc. has a 1 year low of $56.90 and a 1 year high of $76.70.
Argan (NYSE:AGX) last issued its quarterly earnings results 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. The company had revenue of $259.80 million for the quarter, compared to the consensus estimate of $217.75 million. Argan had a return on equity of 28.23% and a net margin of 9.88%. Argan’s revenue for the quarter was up 59.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 earnings per share.
The firm also recently declared an annual dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 20th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, October 19th. This represents a yield of 1.63%. This is an increase from Argan’s previous annual dividend of $0.70. Argan’s dividend payout ratio is currently 18.25%.
Separately, BidaskClub downgraded Argan from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.
In other Argan news, Director John Ronald Jr. Jeffrey purchased 1,500 shares of the stock in a transaction on Tuesday, September 19th. The shares were bought at an average price of $62.49 per share, for a total transaction of $93,735.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.64% of the company’s stock.
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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