Bessemer Group Inc. boosted its holdings in shares of Argan, Inc. (NYSE:AGX) by 56.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,000 shares of the construction company’s stock after buying an additional 6,100 shares during the quarter. Bessemer Group Inc. owned about 0.11% of Argan worth $765,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of AGX. FMR LLC raised its position in Argan by 1.4% in the second quarter. FMR LLC now owns 477,225 shares of the construction company’s stock worth $28,634,000 after purchasing an additional 6,400 shares in the last quarter. Rational Advisors LLC acquired a new stake in shares of Argan during the third quarter worth approximately $256,000. State Street Corp increased its holdings in shares of Argan by 6.4% during the second quarter. State Street Corp now owns 262,821 shares of the construction company’s stock worth $15,768,000 after buying an additional 15,782 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Argan by 112.1% during the third quarter. American Century Companies Inc. now owns 121,675 shares of the construction company’s stock worth $8,183,000 after buying an additional 64,313 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Argan by 7.3% during the second quarter. Northern Trust Corp now owns 183,254 shares of the construction company’s stock worth $10,996,000 after buying an additional 12,429 shares in the last quarter. 83.54% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. Lake Street Capital lowered shares of Argan from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $71.00 to $56.00 in a report on Thursday, December 7th. TheStreet cut shares of Argan from a “b-” rating to a “c+” rating in a research note on Tuesday, February 6th.
Shares of Argan, Inc. (NYSE:AGX) traded up $0.35 during midday trading on Friday, hitting $40.40. 189,507 shares of the stock were exchanged, compared to its average volume of 220,318. The company has a market capitalization of $628.18, a PE ratio of 7.47 and a beta of 0.81. Argan, Inc. has a 52 week low of $37.80 and a 52 week high of $72.90.
Argan (NYSE:AGX) last posted its quarterly earnings data on Wednesday, December 6th. The construction company reported $1.09 EPS for the quarter. The business had revenue of $232.95 million for the quarter. Argan had a net margin of 9.18% and a return on equity of 26.24%.
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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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