Legal & General Group Plc increased its holdings in Argan, Inc. (NYSE:AGX) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,406 shares of the construction company’s stock after purchasing an additional 190 shares during the quarter. Legal & General Group Plc’s holdings in Argan were worth $205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of AGX. Vanguard Group Inc. grew its stake in shares of Argan by 104.8% in the first quarter. Vanguard Group Inc. now owns 1,260,387 shares of the construction company’s stock worth $83,374,000 after purchasing an additional 644,820 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Argan by 81.0% in the second quarter. Acadian Asset Management LLC now owns 201,387 shares of the construction company’s stock worth $12,082,000 after buying an additional 90,094 shares during the period. AQR Capital Management LLC lifted its holdings in Argan by 88.3% in the first quarter. AQR Capital Management LLC now owns 142,044 shares of the construction company’s stock worth $9,396,000 after buying an additional 66,609 shares during the period. Russell Investments Group Ltd. lifted its holdings in Argan by 30.5% in the second quarter. Russell Investments Group Ltd. now owns 123,814 shares of the construction company’s stock worth $7,428,000 after buying an additional 28,919 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Argan by 32.0% in the second quarter. First Trust Advisors LP now owns 114,797 shares of the construction company’s stock worth $6,888,000 after buying an additional 27,856 shares during the period. 86.52% of the stock is currently owned by institutional investors.
In other Argan news, Director John Ronald Jr. Jeffrey acquired 1,500 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were purchased at an average cost of $62.49 per share, for a total transaction of $93,735.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.50% of the stock is currently owned by company insiders.
Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, September 7th. The construction company reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.69. Argan had a net margin of 9.88% and a return on equity of 28.23%. The firm had revenue of $259.80 million for the quarter, compared to the consensus estimate of $217.75 million. During the same period last year, the firm earned $1.29 earnings per share. The company’s quarterly revenue was up 59.9% on a year-over-year basis.
The firm also recently disclosed an annual dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 20th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, October 19th. This is an increase from Argan’s previous annual dividend of $0.70. This represents a dividend yield of 1.63%. Argan’s dividend payout ratio (DPR) is currently 12.77%.
Several analysts have commented on the stock. Sidoti assumed coverage on shares of Argan in a report on Wednesday, June 28th. They issued a “neutral” rating for the company. BidaskClub lowered shares of Argan from a “hold” rating to a “sell” rating in a report on Monday, August 14th.
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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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