Mirae Asset Global Investments Co. Ltd. Grows Position in Argan, Inc. (NYSE:AGX)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Argan, Inc. (NYSE:AGXGet Rating) by 33.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 389,705 shares of the construction company’s stock after buying an additional 96,965 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Argan were worth $15,818,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. River Road Asset Management LLC lifted its holdings in shares of Argan by 1.6% in the first quarter. River Road Asset Management LLC now owns 1,877,626 shares of the construction company’s stock worth $76,213,000 after buying an additional 29,763 shares in the last quarter. BlackRock Inc. raised its stake in Argan by 0.4% during the first quarter. BlackRock Inc. now owns 1,259,175 shares of the construction company’s stock valued at $51,110,000 after purchasing an additional 5,487 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Argan by 9.9% during the first quarter. Dimensional Fund Advisors LP now owns 763,161 shares of the construction company’s stock valued at $30,976,000 after purchasing an additional 69,059 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Argan by 15.1% during the fourth quarter. JPMorgan Chase & Co. now owns 629,025 shares of the construction company’s stock valued at $24,337,000 after purchasing an additional 82,514 shares in the last quarter. Finally, State Street Corp raised its stake in Argan by 27.9% during the first quarter. State Street Corp now owns 376,082 shares of the construction company’s stock valued at $15,265,000 after purchasing an additional 82,024 shares in the last quarter. Hedge funds and other institutional investors own 82.98% of the company’s stock.

Argan Stock Down 2.3 %

AGX stock opened at $33.00 on Monday. Argan, Inc. has a twelve month low of $32.01 and a twelve month high of $46.24. The stock has a market capitalization of $458.17 million, a price-to-earnings ratio of 19.19 and a beta of 0.54. The firm’s fifty day simple moving average is $35.58 and its two-hundred day simple moving average is $37.59.

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 21st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Thursday, October 20th. Argan’s dividend payout ratio (DPR) is 58.14%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AGX. StockNews.com downgraded shares of Argan from a “buy” rating to a “hold” rating in a research note on Monday, September 12th. TheStreet downgraded shares of Argan from a “b-” rating to a “c” rating in a research note on Friday, September 9th.

Argan Profile

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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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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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