California Public Employees Retirement System boosted its stake in Argan, Inc. (NYSE:AGX) by 22.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,171 shares of the construction company’s stock after acquiring an additional 2,600 shares during the period. California Public Employees Retirement System owned 0.09% of Argan worth $557,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. James Investment Research Inc. raised its holdings in Argan by 3.9% in the 2nd quarter. James Investment Research Inc. now owns 15,815 shares of the construction company’s stock worth $641,000 after purchasing an additional 600 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Argan by 2.5% during the 2nd quarter. Northern Trust Corp now owns 180,533 shares of the construction company’s stock valued at $7,323,000 after purchasing an additional 4,419 shares in the last quarter. Shaker Investments LLC OH boosted its stake in shares of Argan by 60.7% during the 3rd quarter. Shaker Investments LLC OH now owns 108,312 shares of the construction company’s stock valued at $4,256,000 after purchasing an additional 40,907 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Argan during the second quarter valued at about $4,248,000. Finally, Vanguard Group Inc. increased its position in shares of Argan by 3.5% during the second quarter. Vanguard Group Inc. now owns 741,480 shares of the construction company’s stock valued at $30,075,000 after buying an additional 24,920 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.
Separately, ValuEngine upgraded shares of Argan from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.
Argan (NYSE:AGX) last released its quarterly earnings results on Monday, September 9th. The construction company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The company had revenue of $63.10 million for the quarter, compared to analyst estimates of $67.65 million. Argan had a return on equity of 1.36% and a net margin of 0.50%. The firm’s revenue was down 53.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share.
In other news, VP Richard H. Deily acquired 750 shares of the stock in a transaction on Monday, October 21st. The stock was acquired at an average price of $39.25 per share, with a total value of $29,437.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.13% of the stock is currently owned by corporate insiders.
Argan Company Profile
Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, project development, technical, and consulting services to the power generation and renewable energy markets. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.
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