Clark Estates Inc. NY Holds Position in Argan, Inc. (AGX)
Clark Estates Inc. NY held its stake in Argan, Inc. (NYSE:AGX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,900 shares of the construction company’s stock at the end of the second quarter. Clark Estates Inc. NY’s holdings in Argan were worth $3,294,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in AGX. Meeder Asset Management Inc. increased its stake in Argan by 117.3% in the second quarter. Meeder Asset Management Inc. now owns 1,775 shares of the construction company’s stock worth $106,000 after buying an additional 958 shares during the last quarter. Creative Planning increased its stake in Argan by 2,480.0% in the first quarter. Creative Planning now owns 2,580 shares of the construction company’s stock worth $171,000 after buying an additional 2,480 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Argan during the first quarter valued at approximately $210,000. Mckinley Capital Management LLC Delaware increased its position in shares of Argan by 30.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 3,174 shares of the construction company’s stock valued at $210,000 after buying an additional 749 shares during the last quarter. Finally, Aperio Group LLC increased its position in shares of Argan by 2.8% in the second quarter. Aperio Group LLC now owns 3,808 shares of the construction company’s stock valued at $228,000 after buying an additional 102 shares during the last quarter. 86.08% of the stock is currently owned by institutional investors.
Argan, Inc. (AGX) opened at 60.95 on Friday. Argan, Inc. has a one year low of $45.51 and a one year high of $76.70. The stock has a 50 day moving average price of $62.91 and a 200 day moving average price of $66.17. The firm has a market capitalization of $945.88 million, a P/E ratio of 12.23 and a beta of 0.91.
Argan (NYSE:AGX) last announced its quarterly earnings data on Wednesday, June 7th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.42. The business had revenue of $230.49 million for the quarter, compared to analysts’ expectations of $183.10 million. Argan had a net margin of 10.15% and a return on equity of 27.78%. Argan’s revenue for the quarter was up 76.8% compared to the same quarter last year. On average, equities analysts predict that Argan, Inc. will post $4.23 EPS for the current fiscal year.
Several research analysts have recently commented on the company. Sidoti assumed coverage on Argan in a report on Wednesday, June 28th. They issued a “neutral” rating on the stock. BidaskClub raised Argan from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Lake Street Capital boosted their target price on Argan from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, June 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $75.00.
In other news, Director John Ronald Jr. Jeffrey acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were acquired at an average cost of $60.95 per share, with a total value of $60,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Henry A. Crumpton sold 30,000 shares of Argan stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $62.24, for a total transaction of $1,867,200.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,244,800. The disclosure for this sale can be found here. Company insiders own 9.50% 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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