Argan, Inc. (AGX) Stake Increased by Boston Partners

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Boston Partners lifted its position in Argan, Inc. (NYSE:AGX) by 13.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 80,217 shares of the construction company’s stock after acquiring an additional 9,779 shares during the quarter. Boston Partners’ holdings in Argan were worth $3,285,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. River Road Asset Management LLC bought a new position in Argan during the second quarter valued at about $14,284,000. Freestone Capital Holdings LLC grew its position in Argan by 281.0% during the first quarter. Freestone Capital Holdings LLC now owns 314,426 shares of the construction company’s stock valued at $13,505,000 after buying an additional 231,889 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in Argan by 454.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 180,517 shares of the construction company’s stock valued at $7,753,000 after buying an additional 147,931 shares during the period. Heartland Advisors Inc. grew its position in Argan by 124.7% during the second quarter. Heartland Advisors Inc. now owns 224,700 shares of the construction company’s stock valued at $9,201,000 after buying an additional 124,700 shares during the period. Finally, Emancipation Management LLC grew its position in Argan by 338.3% during the first quarter. Emancipation Management LLC now owns 109,104 shares of the construction company’s stock valued at $4,686,000 after buying an additional 84,209 shares during the period. Hedge funds and other institutional investors own 84.40% of the company’s stock.

AGX opened at $39.50 on Tuesday. The stock has a market cap of $608.74 million, a P/E ratio of 10.83 and a beta of 0.85. Argan, Inc. has a fifty-two week low of $34.90 and a fifty-two week high of $69.95.

Argan (NYSE:AGX) last posted its quarterly earnings results on Monday, June 11th. The construction company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). The company had revenue of $141.40 million for the quarter, compared to the consensus estimate of $122.93 million. Argan had a net margin of 7.00% and a return on equity of 16.11%. Argan’s quarterly revenue was down 38.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 31st. Investors of record on Tuesday, July 24th were given a dividend of $0.25 per share. The ex-dividend date was Monday, July 23rd. This represents a $1.00 annualized dividend and a yield of 2.53%.

In related news, Director John Ronald Jr. Jeffrey purchased 1,500 shares of Argan stock in a transaction that occurred on Tuesday, July 31st. The stock was bought at an average price of $38.24 per share, for a total transaction of $57,360.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.50% of the stock is currently owned by corporate insiders.

Argan 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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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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