California Public Employees Retirement System grew its holdings in Argan, Inc. (NYSE:AGX) by 40.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,104 shares of the construction company’s stock after acquiring an additional 8,164 shares during the period. California Public Employees Retirement System owned 0.18% of Argan worth $1,151,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of AGX. John G Ullman & Associates Inc. acquired a new stake in shares of Argan in the second quarter worth $201,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Argan in the first quarter worth $233,000. Pitcairn Co. acquired a new stake in shares of Argan in the second quarter worth $300,000. Shaker Investments LLC OH acquired a new stake in shares of Argan in the second quarter worth $598,000. Finally, Kokino LLC acquired a new stake in shares of Argan in the second quarter worth $672,000. 76.27% of the stock is owned by institutional investors.
Shares of Argan stock opened at $45.26 on Wednesday. Argan, Inc. has a 1-year low of $34.90 and a 1-year high of $68.35. The firm has a market capitalization of $688.29 million, a PE ratio of 14.89 and a beta of 0.74.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Tuesday, October 23rd.
Separately, TheStreet upgraded shares of Argan from a “c+” rating to a “b-” rating in a research note on Wednesday, September 12th.
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Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets. The company's Power Industry Services segment offers engineering, procurement, and construction contracting services to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for 44 projects with approximately 15,000 megawatts of power-generating capacity.
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