Russell Investments Group Ltd. trimmed its holdings in shares of Argan, Inc. (NYSE:AGX) by 27.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,813 shares of the construction company’s stock after selling 67,070 shares during the quarter. Russell Investments Group Ltd. owned about 1.14% of Argan worth $7,208,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Shaker Investments LLC OH increased its position in Argan by 21.5% during the second quarter. Shaker Investments LLC OH now owns 67,405 shares of the construction company’s stock worth $2,734,000 after buying an additional 11,950 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Argan by 10.9% during the second quarter. State Board of Administration of Florida Retirement System now owns 6,513 shares of the construction company’s stock worth $264,000 after buying an additional 640 shares during the last quarter. Swiss National Bank increased its position in Argan by 2.4% during the second quarter. Swiss National Bank now owns 26,100 shares of the construction company’s stock worth $1,059,000 after buying an additional 600 shares during the last quarter. Investment Management of Virginia LLC boosted its holdings in Argan by 4.7% during the second quarter. Investment Management of Virginia LLC now owns 181,582 shares of the construction company’s stock valued at $7,365,000 after acquiring an additional 8,202 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Argan by 4.1% during the second quarter. SG Americas Securities LLC now owns 54,968 shares of the construction company’s stock valued at $2,230,000 after acquiring an additional 2,142 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.
AGX stock traded down $0.80 during mid-day trading on Thursday, reaching $42.93. 2,401 shares of the stock traded hands, compared to its average volume of 121,089. Argan, Inc. has a 52 week low of $35.08 and a 52 week high of $51.95. The business has a 50-day moving average of $40.23 and a two-hundred day moving average of $44.72. The firm has a market capitalization of $649.41 million, a PE ratio of 129.81 and a beta of 0.59.
Argan (NYSE:AGX) last released its quarterly earnings results on Monday, September 9th. The construction company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.04. Argan had a net margin of 0.50% and a return on equity of 1.34%. The company had revenue of $63.10 million during the quarter, compared to analysts’ expectations of $67.65 million. During the same period in the prior year, the company earned $1.08 earnings per share. The business’s quarterly revenue was down 53.8% compared to the same quarter last year.
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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