The most recent Form 13F report that Raymond James & Associates has submitted to the Securities and Exchange Commission indicates that the company decreased its holdings in Argan, Inc. (NYSE: AGX) by 3.9% during the third quarter. The fund had 147,211 shares of the investment company’s stock before it sold 6,027 of them during the quarter. This brought the total number of shares it owned in the investment company to 147,211. Raymond James & Associates stated in its most recent filing with the SEC that it holds $4,736,000 worth of Argan, which is approximately equivalent to 1.06% of the company. Argan, Inc provided this information.
Several other significant investors have recently made modifications to their holdings of AGX shares. In the first three months of 2018, the Bank of New York Mellon Corporation saw a 3.3% increase in the amount of Argan it held in its portfolio. The construction company’s stock is currently valued at $4,874,000, and the Bank of New York Mellon Corp. now owns a total of 120,094 shares of it after purchasing an additional 3,795 shares during the preceding quarter. PNC Financial Services Group Inc. was able to boost its holdings in Argan by approximately $109,000 and increase its overall investment in the company by purchasing a new position in the company during the first quarter. Bank of Montreal Can began a new holding in Argan shares during the year’s first three months. At the time, the shares had a market value of approximately $340,000. During the first three months of 2013, the investment portfolio managed by MetLife Investment Management LLC saw a 45.5% increase in the amount of Argan that it held. After making a new purchase of 2,793 shares during the most recent quarter, MetLife Investment Management LLC now owns 8,933 shares of the construction company’s stock. These shares have a total value of $363,000, and the company’s holdings are worth $363,000. Last but certainly not least, during the first three months of this year, Panagora Asset Management Inc. increased the amount of Argan stock that is owned by 4.1%, bringing the total amount of stock it possessed to a total of 1.9%. Panagora Asset Management Inc. now has 41,946 shares in the construction company, which are currently valued at $1,703,000. This represents an increase in the total number of shares owned by the company. This resulted in a total of 1,638 additional shares being issued. At present, 83.84% of the company’s shares are owned by hedge funds and various other institutional investors.
Several research professionals have expressed their disagreement with the corporation in question in recent years. In a research report made public on Friday, September 23, Barclays lowered their “overweight” rating and price objective on Argan, which had previously been 104.00 ($94.04). The new price objective is 87.00 ($94.04). Argan received a rating of “c” from TheStreet in a research report that was made public on Friday, December 9. However, TheStreet has now given the company a grade of “b-,” which is significantly higher than its previous rating. The recommendation that StockNews.com had previously given for Argan in a research report was finally changed from “hold” to “buy” on January 5 of this year.
On Tuesday, shares of NYSE: AGX started the trading day priced at $38.65 each. The price of the company’s stock is currently trading at a moving average of fifty days of $36.73 and a moving average of two hundred days of $35.42. The common stock of Argan, Inc. carries a price-to-earnings ratio of 25.77 and a beta value of 0.59. The stock’s market capitalization is $524.71 million. The price of the company’s stock reached a 52-week low of $31.26 and a 52-week high of $42.15.
On December 7, Argan’s most recent quarterly earnings report, which is traded on the NYSE under the symbol AGX, was made public. The building and construction firm made a profit of $0.56 per share during the preceding quarter. Argan had a return on equity of 10.06% and a net margin of 4.69% when we last checked in on them. The company reported total revenues of 117.88 million dollars for the period in question.
In addition, the corporation has declared a quarterly dividend, which will be paid out on the 31st of this month as originally planned. Investors who are currently registered will be given a dividend payment equal to $0.25 per share that will be distributed on January 20. This translates into a dividend payment of one dollar and a return of 2.59% when calculated annually. The ex-dividend day is Thursday, January 19, coming very soon. The dividend payout ratio for The Argan Company is 66.67%. This ratio is also referred to as the DPR.
The power generation and renewable energy industries are two markets that Argan, Inc. serves through the provision of project development, technical, engineering, procurement, construction, commissioning, operations management, maintenance, and consulting services. These services are made available to customers by utilizing the various company subsidiaries. The organization comprises three primary lines of business: power industry services, industrial fabrication, field services, and telecommunications infrastructure services. Each of these divisions provides a different kind of service to the industry.