Raymond James & Associates Trims Stake in Argan, Inc. (NYSE:AGX)

Raymond James & Associates trimmed its holdings in shares of Argan, Inc. (NYSE:AGX – Get Rating) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,915 shares of the construction company’s stock after selling 7,296 shares during the quarter. Raymond James & Associates owned about 1.03% of Argan worth $5,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its position in Argan by 228.8% during the third quarter. Quadrant Capital Group LLC now owns 766 shares of the construction company’s stock worth $25,000 after buying an additional 533 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of Argan in the 3rd quarter worth about $32,000. Gladius Capital Management LP purchased a new position in shares of Argan in the 4th quarter worth about $38,000. Quantbot Technologies LP boosted its holdings in shares of Argan by 390.9% in the 2nd quarter. Quantbot Technologies LP now owns 1,620 shares of the construction company’s stock worth $60,000 after purchasing an additional 1,290 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Argan by 159.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the construction company’s stock worth $71,000 after purchasing an additional 1,358 shares in the last quarter. 83.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Argan in a report on Thursday, May 18th. They issued a “buy” rating for the company.

Argan Trading Down 0.6 %

AGX opened at $41.36 on Tuesday. The stock has a 50-day moving average price of $40.17 and a 200-day moving average price of $38.60. Argan, Inc. has a 12-month low of $31.26 and a 12-month high of $43.50. The stock has a market capitalization of $555.05 million, a P/E ratio of 17.53 and a beta of 0.62.

Argan (NYSE:AGX – Get Rating) last issued its earnings results on Wednesday, April 12th. The construction company reported $1.00 earnings per share for the quarter. The company had revenue of $118.78 million during the quarter. Argan had a return on equity of 11.70% and a net margin of 7.27%.

Argan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Thursday, April 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.42%. The ex-dividend date was Wednesday, April 19th. Argan’s dividend payout ratio is presently 42.37%.

Argan Profile

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Argan, Inc is a construction company, which engages in the operations of its wholly owned subsidiaries. It operates through the following business segments: Power Industry Services, Telecommunications Infrastructure Services, and Industrial Fabrication and Field Services. The Power Industry Services segment includes engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market.