5,714 Shares in Argan, Inc. (NYSE:AGX) Acquired by ARP Americas LLC
ARP Americas LLC bought a new position in shares of Argan, Inc. (NYSE:AGX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 5,714 shares of the construction company’s stock, valued at approximately $343,000.
Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Argan by 104.8% in the first quarter. Vanguard Group Inc. now owns 1,260,387 shares of the construction company’s stock valued at $83,374,000 after buying an additional 644,820 shares in the last quarter. Renaissance Technologies LLC increased its stake in Argan by 15.0% in the first quarter. Renaissance Technologies LLC now owns 1,236,855 shares of the construction company’s stock valued at $81,818,000 after buying an additional 161,055 shares in the last quarter. Norges Bank bought a new stake in Argan during the fourth quarter valued at approximately $9,798,000. Acadian Asset Management LLC increased its stake in Argan by 81.0% in the second quarter. Acadian Asset Management LLC now owns 201,387 shares of the construction company’s stock valued at $12,082,000 after buying an additional 90,094 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Argan by 17.1% in the first quarter. Prudential Financial Inc. now owns 608,812 shares of the construction company’s stock valued at $40,273,000 after buying an additional 88,780 shares in the last quarter. 86.08% of the stock is owned by hedge funds and other institutional investors.
Shares of Argan, Inc. (NYSE AGX) opened at 65.85 on Tuesday. The stock has a market capitalization of $1.02 billion, a P/E ratio of 13.21 and a beta of 0.91. Argan, Inc. has a 1-year low of $45.51 and a 1-year high of $76.70. The firm’s 50-day moving average price is $62.24 and its 200 day moving average price is $66.36.
Argan (NYSE:AGX) last issued its earnings results on Wednesday, June 7th. The construction company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.42. Argan had a return on equity of 27.78% and a net margin of 10.15%. The company had revenue of $230.49 million during the quarter, compared to the consensus estimate of $183.10 million. The firm’s revenue was up 76.8% on a year-over-year basis. Analysts expect that Argan, Inc. will post $4.23 EPS for the current fiscal year.
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Several analysts have commented on the company. BidaskClub raised Argan from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Sidoti assumed coverage on Argan in a research note on Wednesday, June 28th. They set a “neutral” rating for the company. Finally, Lake Street Capital upped their price objective on Argan from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, June 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $75.00.
In other news, Director Henry A. Crumpton sold 30,000 shares of Argan stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $62.24, for a total transaction of $1,867,200.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at $1,244,800. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Ronald Jr. Jeffrey purchased 1,000 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were acquired at an average cost of $60.95 per share, for a total transaction of $60,950.00. The disclosure for this purchase can be found here. Insiders own 7.64% of the company’s stock.
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.
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