Campbell & CO Investment Adviser LLC Buys New Holdings in Argan, Inc. (NYSE:AGX)

Campbell & CO Investment Adviser LLC acquired a new stake in Argan, Inc. (NYSE:AGXFree Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 14,641 shares of the construction company’s stock, valued at approximately $666,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Argan by 0.4% in the first quarter. BlackRock Inc. now owns 1,259,175 shares of the construction company’s stock valued at $51,110,000 after acquiring an additional 5,487 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Argan by 9.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 763,161 shares of the construction company’s stock worth $30,976,000 after buying an additional 69,059 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Argan by 0.5% during the 2nd quarter. Renaissance Technologies LLC now owns 449,299 shares of the construction company’s stock worth $17,707,000 after buying an additional 2,200 shares during the last quarter. State Street Corp raised its stake in shares of Argan by 7.2% during the 1st quarter. State Street Corp now owns 401,622 shares of the construction company’s stock worth $16,254,000 after buying an additional 26,993 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Argan by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 395,664 shares of the construction company’s stock worth $18,011,000 after buying an additional 32,958 shares during the last quarter. 79.19% of the stock is currently owned by hedge funds and other institutional investors.

Argan Trading Up 1.4 %

Shares of AGX stock opened at $46.50 on Monday. The firm has a 50-day moving average price of $45.60 and a 200 day moving average price of $44.37. Argan, Inc. has a twelve month low of $37.37 and a twelve month high of $48.51. The company has a market capitalization of $619.85 million, a price-to-earnings ratio of 18.60 and a beta of 0.49.

Argan (NYSE:AGXGet Free Report) last announced its earnings results on Wednesday, December 6th. The construction company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.46). Argan had a net margin of 6.44% and a return on equity of 12.04%. The firm had revenue of $163.80 million during the quarter, compared to analyst estimates of $160.85 million. During the same period in the previous year, the firm posted ($0.44) EPS. The company’s revenue for the quarter was up 180.5% compared to the same quarter last year.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Tuesday, January 23rd were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.58%. The ex-dividend date was Monday, January 22nd. Argan’s payout ratio is 48.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Argan from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 8th.

Get Our Latest Stock Report on Argan

Argan Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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