Argan, Inc. (AGX) Shares Bought by OxFORD Asset Management LLP
OxFORD Asset Management LLP grew its position in shares of Argan, Inc. (NYSE:AGX) by 550.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 30,086 shares of the construction company’s stock after purchasing an additional 25,461 shares during the quarter. OxFORD Asset Management LLP owned 0.19% of Argan worth $1,805,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of AGX. Bank of New York Mellon Corp increased its position in shares of Argan by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 109,163 shares of the construction company’s stock valued at $7,221,000 after purchasing an additional 1,380 shares during the period. Swiss National Bank increased its position in shares of Argan by 4.2% during the 1st quarter. Swiss National Bank now owns 22,300 shares of the construction company’s stock valued at $1,475,000 after purchasing an additional 900 shares during the period. Karp Capital Management Corp acquired a new position in shares of Argan during the 1st quarter valued at $245,000. Parametric Portfolio Associates LLC increased its position in shares of Argan by 14.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 14,605 shares of the construction company’s stock valued at $966,000 after purchasing an additional 1,896 shares during the period. Finally, Oxford Asset Management acquired a new position in shares of Argan during the 1st quarter valued at $306,000. Institutional investors own 86.52% of the company’s stock.
Argan, Inc. (NYSE:AGX) opened at 68.05 on Monday. The stock’s 50 day moving average price is $63.24 and its 200 day moving average price is $63.91. The firm has a market capitalization of $1.06 billion, a PE ratio of 12.54 and a beta of 0.92. Argan, Inc. has a 12 month low of $54.00 and a 12 month high of $76.70.
Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, September 7th. The construction company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.69. Argan had a return on equity of 28.23% and a net margin of 9.88%. The firm had revenue of $259.80 million for the quarter, compared to the consensus estimate of $217.75 million. During the same quarter in the prior year, the business earned $1.29 EPS. The business’s revenue for the quarter was up 59.9% compared to the same quarter last year. Equities research analysts expect that Argan, Inc. will post $4.82 earnings per share for the current fiscal year.
The company also recently disclosed an annual dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 20th will be issued a dividend of $1.00 per share. This is an increase from Argan’s previous annual dividend of $0.70. The ex-dividend date of this dividend is Thursday, October 19th. This represents a yield of 1.63%. Argan’s dividend payout ratio is currently 12.77%.
Several brokerages have recently issued reports on AGX. Sidoti began coverage on Argan in a research report on Wednesday, June 28th. They set a “neutral” rating on the stock. BidaskClub cut Argan from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.
In other news, Director John Ronald Jr. Jeffrey acquired 1,500 shares of Argan stock in a transaction on Tuesday, September 19th. The shares were purchased at an average price of $62.49 per share, with a total value of $93,735.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 7.64% of the stock is currently owned by corporate insiders.
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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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