Cetera Advisors LLC lifted its position in shares of Argan, Inc. (NYSE:AGX) by 12.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,835 shares of the construction company’s stock after purchasing an additional 6,053 shares during the period. Cetera Advisors LLC owned 0.35% of Argan worth $2,229,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can bought a new position in shares of Argan during the second quarter valued at approximately $50,000. Parallel Advisors LLC increased its position in shares of Argan by 39.6% during the first quarter. Parallel Advisors LLC now owns 1,029 shares of the construction company’s stock valued at $51,000 after acquiring an additional 292 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Argan in the second quarter worth approximately $86,000. BNP Paribas Arbitrage SA boosted its holdings in Argan by 201.8% in the first quarter. BNP Paribas Arbitrage SA now owns 3,048 shares of the construction company’s stock worth $152,000 after purchasing an additional 2,038 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in Argan in the second quarter worth approximately $235,000. Institutional investors own 84.46% of the company’s stock.
Shares of Argan stock traded down $0.14 on Friday, hitting $42.95. 222 shares of the company’s stock were exchanged, compared to its average volume of 90,020. The company has a 50-day simple moving average of $40.23 and a 200-day simple moving average of $44.72. Argan, Inc. has a 1 year low of $35.08 and a 1 year high of $51.95. The stock has a market capitalization of $661.45 million, a PE ratio of 132.22 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 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. Argan had a net margin of 0.50% and a return on equity of 1.36%. The firm had revenue of $63.10 million during the quarter, compared to analysts’ expectations of $67.65 million. During the same period in the previous year, the company earned $1.08 EPS. The firm’s revenue for the quarter was down 53.8% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.33%.
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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