Parallel Advisors LLC Acquires 292 Shares of Argan, Inc. (AGX)
Parallel Advisors LLC lifted its holdings in shares of Argan, Inc. (NYSE:AGX) by 39.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,029 shares of the construction company’s stock after purchasing an additional 292 shares during the period. Parallel Advisors LLC’s holdings in Argan were worth $51,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in AGX. Legal & General Group Plc grew its holdings in Argan by 20.1% in the 4th quarter. Legal & General Group Plc now owns 2,663 shares of the construction company’s stock worth $100,000 after acquiring an additional 446 shares during the last quarter. Investors Research Corp bought a new stake in shares of Argan during the 1st quarter valued at about $30,000. California Public Employees Retirement System boosted its stake in shares of Argan by 5.3% during the 4th quarter. California Public Employees Retirement System now owns 15,374 shares of the construction company’s stock valued at $582,000 after purchasing an additional 775 shares in the last quarter. John G Ullman & Associates Inc. boosted its stake in shares of Argan by 1.0% during the 1st quarter. John G Ullman & Associates Inc. now owns 84,500 shares of the construction company’s stock valued at $4,221,000 after purchasing an additional 806 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Argan by 2.0% during the 1st quarter. SG Americas Securities LLC now owns 52,826 shares of the construction company’s stock valued at $2,639,000 after purchasing an additional 1,053 shares in the last quarter. 84.93% of the stock is currently owned by institutional investors.
In other Argan news, Director W G. Champion Mitchell sold 7,788 shares of Argan stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $49.73, for a total value of $387,297.24. Following the completion of the transaction, the director now directly owns 53,333 shares of the company’s stock, valued at $2,652,250.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.13% of the stock is currently owned by insiders.
Shares of Argan stock opened at $48.92 on Thursday. The stock has a market capitalization of $744.77 million, a price-to-earnings ratio of 13.93 and a beta of 0.91. Argan, Inc. has a 52-week low of $34.90 and a 52-week high of $51.95.
Argan (NYSE:AGX) last issued its earnings results on Wednesday, April 10th. The construction company reported ($0.04) earnings per share (EPS) for the quarter. The firm had revenue of $87.66 million during the quarter. Argan had a return on equity of 14.04% and a net margin of 10.79%.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 22nd were issued a $0.25 dividend. The ex-dividend date was Thursday, April 18th. This represents a $1.00 annualized dividend and a yield of 2.04%.
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Argan Company Profile
Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets. The company's Power Industry Services segment offers engineering, procurement, and construction contracting services to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for 44 projects with approximately 15,000 megawatts of power-generating capacity.
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