Victory Capital Management Inc. Decreases Position in Argan, Inc. (NYSE:AGX)

Posted by Defense World Staff on Jun 3rd, 2023

Victory Capital Management Inc. lessened its holdings in Argan, Inc. (NYSE:AGX – Get Rating) by 29.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,343 shares of the construction company’s stock after selling 13,514 shares during the period. Victory Capital Management Inc. owned approximately 0.24% of Argan worth $1,193,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its holdings in shares of Argan by 228.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 766 shares of the construction company’s stock valued at $25,000 after purchasing an additional 533 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in shares of Argan in the 3rd quarter valued at $32,000. Gladius Capital Management LP acquired a new stake in shares of Argan in the 4th quarter valued at $38,000. Quantbot Technologies LP raised its holdings in shares of Argan by 390.9% in the 2nd quarter. Quantbot Technologies LP now owns 1,620 shares of the construction company’s stock valued at $60,000 after purchasing an additional 1,290 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Argan by 159.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the construction company’s stock valued at $71,000 after purchasing an additional 1,358 shares in the last quarter. Hedge funds and other institutional investors own 83.84% of the company’s stock.

Argan Price Performance

Shares of NYSE:AGX opened at $41.05 on Friday. The company’s fifty day moving average price is $40.34 and its 200 day moving average price is $38.94. Argan, Inc. has a 12 month low of $31.26 and a 12 month high of $43.50. The firm has a market capitalization of $550.89 million, a P/E ratio of 17.39 and a beta of 0.63.

Argan (NYSE:AGX – Get Rating) last announced its quarterly earnings results on Wednesday, April 12th. The construction company reported $1.00 EPS for the quarter. The firm had revenue of $118.78 million for the quarter. Argan had a net margin of 7.27% and a return on equity of 11.70%.

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Thursday, April 20th were paid a $0.25 dividend. The ex-dividend date was Wednesday, April 19th. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. Argan’s dividend payout ratio is presently 42.37%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Argan in a research note on Thursday, May 18th. They set a “buy” rating on the stock.

Argan Company Profile

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Argan, Inc is a construction company, which engages in the operations of its wholly owned subsidiaries. It operates through the following business segments: Power Industry Services, Telecommunications Infrastructure Services, and Industrial Fabrication and Field Services. The Power Industry Services segment includes engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market.