Geode Capital Management LLC Has $7.05 Million Holdings in Argan, Inc. (AGX)

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Geode Capital Management LLC cut its stake in Argan, Inc. (NYSE:AGX) by 15.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,369 shares of the construction company’s stock after selling 35,120 shares during the period. Geode Capital Management LLC owned 1.20% of Argan worth $7,052,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Argan by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,291,980 shares of the construction company’s stock valued at $48,888,000 after purchasing an additional 64,309 shares during the period. Thomson Horstmann & Bryant Inc. acquired a new position in shares of Argan in the 4th quarter valued at $6,563,000. Citigroup Inc. boosted its position in shares of Argan by 20.3% in the 4th quarter. Citigroup Inc. now owns 12,409 shares of the construction company’s stock valued at $470,000 after purchasing an additional 2,090 shares during the period. Royce & Associates LP boosted its position in shares of Argan by 13.1% in the 4th quarter. Royce & Associates LP now owns 639,880 shares of the construction company’s stock valued at $24,213,000 after purchasing an additional 74,234 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Argan by 54.2% in the 4th quarter. Raymond James & Associates now owns 94,314 shares of the construction company’s stock valued at $3,569,000 after purchasing an additional 33,163 shares during the period. 84.94% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Lake Street Capital raised their price objective on Argan from $56.00 to $62.00 and gave the stock a “positive” rating in a research report on Thursday, April 11th.

Shares of NYSE AGX opened at $50.02 on Friday. Argan, Inc. has a one year low of $34.90 and a one year high of $51.95. The stock has a market cap of $782.85 million, a price-to-earnings ratio of 14.91 and a beta of 0.96.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.00%.

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About Argan

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.

See Also: Derivative

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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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