Clark Estates Inc. NY continued to hold its position in Argan, Inc. (NYSE:AGX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,900 shares of the construction company’s stock at the end of the first quarter. Argan accounts for 0.6% of Clark Estates Inc. NY’s investment portfolio, making the stock its 29th largest position. Clark Estates Inc. NY owned about 0.36% of Argan worth $3,632,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its position in Argan by 54.3% in the fourth quarter. FMR LLC now owns 470,525 shares of the construction company’s stock worth $33,196,000 after buying an additional 165,532 shares during the last quarter. Renaissance Technologies LLC raised its position in Argan by 15.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,075,800 shares of the construction company’s stock worth $75,898,000 after buying an additional 141,500 shares during the last quarter. Norges Bank purchased a new position in Argan during the fourth quarter worth about $9,798,000. Numeric Investors LLC raised its position in Argan by 19.2% in the fourth quarter. Numeric Investors LLC now owns 474,065 shares of the construction company’s stock worth $33,445,000 after buying an additional 76,301 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in Argan by 12,016.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 66,641 shares of the construction company’s stock worth $4,702,000 after buying an additional 66,091 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.
Shares of Argan, Inc. (NYSE:AGX) traded down 1.35% during mid-day trading on Friday, reaching $65.70. 262,502 shares of the company’s stock were exchanged. Argan, Inc. has a 52-week low of $32.70 and a 52-week high of $76.70. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 14.60 and a beta of 1.07. The stock’s 50-day moving average is $66.53 and its 200-day moving average is $66.10.
Argan (NYSE:AGX) last released its quarterly earnings results on Monday, April 10th. The construction company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.48. Argan had a net margin of 9.70% and a return on equity of 23.01%. The business had revenue of $206.80 million for the quarter, compared to the consensus estimate of $188.83 million. Argan’s revenue for the quarter was up 77.7% compared to the same quarter last year. On average, equities analysts expect that Argan, Inc. will post $3.63 EPS for the current year.
Separately, Zacks Investment Research lowered shares of Argan from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd.
In related news, CEO William F. Griffin, Jr. sold 25,000 shares of the company’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $70.33, for a total transaction of $1,758,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James W. Quinn sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $66.17, for a total transaction of $661,700.00. Following the sale, the director now directly owns 56,396 shares of the company’s stock, valued at approximately $3,731,723.32. The disclosure for this sale can be found here. Insiders sold 81,140 shares of company stock worth $5,807,642 over the last 90 days. 9.50% of the stock is currently owned by corporate insiders.
Argan Company Profile
Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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