Argan (NYSE:AGX) Announces Earnings Results

Argan (NYSE:AGX) issued its earnings results on Thursday. The construction company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14, Briefing.com reports. The business had revenue of $164.55 million during the quarter, compared to analyst estimates of $162.05 million. Argan had a return on equity of 12.04% and a net margin of 6.44%. Argan’s revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.46) EPS.

Argan Stock Performance

Shares of AGX stock opened at $49.35 on Friday. The stock’s 50-day simple moving average is $48.13 and its 200-day simple moving average is $46.50. The firm has a market capitalization of $657.84 million, a PE ratio of 19.74 and a beta of 0.49. Argan has a fifty-two week low of $37.37 and a fifty-two week high of $51.97.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AGX. Wellington Management Group LLP grew its holdings in Argan by 123.2% during the first quarter. Wellington Management Group LLP now owns 214,700 shares of the construction company’s stock worth $8,689,000 after acquiring an additional 118,500 shares during the period. State Street Corp grew its holdings in Argan by 27.9% in the first quarter. State Street Corp now owns 376,082 shares of the construction company’s stock valued at $15,265,000 after purchasing an additional 82,024 shares during the period. Dimensional Fund Advisors LP grew its holdings in Argan by 9.9% in the first quarter. Dimensional Fund Advisors LP now owns 763,161 shares of the construction company’s stock valued at $30,976,000 after purchasing an additional 69,059 shares during the period. Wasatch Advisors LP grew its holdings in Argan by 73.0% in the first quarter. Wasatch Advisors LP now owns 151,726 shares of the construction company’s stock valued at $6,140,000 after purchasing an additional 64,007 shares during the period. Finally, Royce & Associates LP grew its holdings in Argan by 44.5% in the first quarter. Royce & Associates LP now owns 160,327 shares of the construction company’s stock valued at $6,488,000 after purchasing an additional 49,350 shares during the period. 79.43% of the stock is owned by institutional investors and hedge funds.

About Argan

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.