California Public Employees Retirement System Sells 700 Shares of Argan, Inc. (AGX)
California Public Employees Retirement System cut its position in Argan, Inc. (NYSE:AGX) by 3.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,100 shares of the construction company’s stock after selling 700 shares during the quarter. California Public Employees Retirement System owned approximately 0.12% of Argan worth $1,086,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in AGX. Meeder Asset Management Inc. increased its holdings in shares of Argan by 117.3% during the second quarter. Meeder Asset Management Inc. now owns 1,775 shares of the construction company’s stock valued at $106,000 after acquiring an additional 958 shares in the last quarter. Victory Capital Management Inc. boosted its position in Argan by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,001 shares of the construction company’s stock valued at $120,000 after buying an additional 301 shares during the last quarter. Legal & General Group Plc boosted its position in Argan by 5.9% in the second quarter. Legal & General Group Plc now owns 3,406 shares of the construction company’s stock valued at $205,000 after buying an additional 190 shares during the last quarter. Verity Asset Management Inc. purchased a new stake in Argan in the second quarter valued at approximately $219,000. Finally, Aperio Group LLC boosted its position in 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. Institutional investors and hedge funds own 86.78% of the company’s stock.
Separately, BidaskClub upgraded Argan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th.
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Shares of Argan, Inc. (NYSE AGX) opened at $66.80 on Friday. Argan, Inc. has a 52-week low of $56.90 and a 52-week high of $76.70. The company has a market capitalization of $1,038.34, a P/E ratio of 12.19 and a beta of 0.93.
Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, September 7th. The construction company reported $1.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.69. Argan had a return on equity of 28.23% and a net margin of 9.88%. The business had revenue of $259.80 million for the quarter, compared to analyst estimates of $217.75 million. During the same quarter in the prior year, the firm posted $1.29 EPS. The business’s quarterly revenue was up 59.9% compared to the same quarter last year.
The firm also recently announced an annual dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 20th were given a dividend of $1.00 per share. This is a positive change from Argan’s previous annual dividend of $0.70. The ex-dividend date was Thursday, October 19th. This represents a dividend yield of 1.63%. Argan’s dividend payout ratio (DPR) is 18.25%.
In other news, Director John Ronald Jr. Jeffrey acquired 1,500 shares of Argan stock in a transaction that occurred on Tuesday, September 19th. The stock was purchased at an average cost of $62.49 per share, with a total value of $93,735.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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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