Legato Capital Management LLC Has $2.03 Million Stake in Argan, Inc. (NYSE:AGX)

Legato Capital Management LLC increased its holdings in Argan, Inc. (NYSE:AGX) by 20.5% in the third quarter, Holdings Channel reports. The institutional investor owned 52,390 shares of the construction company’s stock after buying an additional 8,910 shares during the period. Legato Capital Management LLC’s holdings in Argan were worth $2,029,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Argan by 12.8% during the first quarter. FMR LLC now owns 713,166 shares of the construction company’s stock worth $35,623,000 after buying an additional 81,013 shares during the last quarter. James Investment Research Inc. grew its stake in shares of Argan by 3.9% during the second quarter. James Investment Research Inc. now owns 15,815 shares of the construction company’s stock worth $641,000 after buying an additional 600 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Argan by 4.1% during the second quarter. SG Americas Securities LLC now owns 54,968 shares of the construction company’s stock worth $2,230,000 after buying an additional 2,142 shares during the last quarter. Investment Management of Virginia LLC grew its stake in shares of Argan by 4.7% during the second quarter. Investment Management of Virginia LLC now owns 181,582 shares of the construction company’s stock worth $7,365,000 after buying an additional 8,202 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of 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. Institutional investors own 84.46% of the company’s stock.

Shares of NYSE AGX traded down $0.75 during midday trading on Tuesday, reaching $38.63. 1,681 shares of the company were exchanged, compared to its average volume of 102,012. The stock’s 50-day moving average price is $39.74 and its 200-day moving average price is $42.97. The stock has a market cap of $611.11 million, a P/E ratio of 122.16 and a beta of 0.53. Argan, Inc. has a one year low of $35.08 and a one year high of $51.95.

Argan (NYSE:AGX) last posted its earnings results on Monday, September 9th. The construction company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.04. The firm had revenue of $63.10 million for the quarter, compared to analysts’ expectations of $67.65 million. Argan had a net margin of 0.50% and a return on equity of 1.36%. The company’s revenue was down 53.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 2.59%.

Separately, ValuEngine raised shares of Argan from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Argan Company Profile

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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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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