Mirae Asset Global Investments Co. Ltd. Has $13.09 Million Holdings in Argan, Inc. (NYSE:AGX)

Posted by Defense World Staff on Aug 6th, 2023

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Argan, Inc. (NYSE:AGX – Free Report) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 323,329 shares of the construction company’s stock after purchasing an additional 30,756 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 2.41% of Argan worth $13,085,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Royce & Associates LP raised its holdings in Argan by 44.5% in the 1st quarter. Royce & Associates LP now owns 160,327 shares of the construction company’s stock worth $6,488,000 after acquiring an additional 49,350 shares during the period. CM Wealth Advisors LLC bought a new position in Argan in the 1st quarter worth $1,113,000. Money Concepts Capital Corp raised its holdings in Argan by 1.6% in the 1st quarter. Money Concepts Capital Corp now owns 106,095 shares of the construction company’s stock worth $4,294,000 after acquiring an additional 1,660 shares during the period. Simplicity Solutions LLC raised its holdings in Argan by 28.0% in the 1st quarter. Simplicity Solutions LLC now owns 7,387 shares of the construction company’s stock worth $299,000 after acquiring an additional 1,618 shares during the period. Finally, Wesbanco Bank Inc. bought a new position in Argan in the 1st quarter worth $780,000. Institutional investors and hedge funds own 81.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Argan in a report on Thursday, May 18th. They issued a “buy” rating on the stock.

Argan Stock Performance

NYSE:AGX opened at $39.50 on Friday. The firm’s 50-day moving average is $39.86 and its 200-day moving average is $39.90. Argan, Inc. has a 52-week low of $31.26 and a 52-week high of $45.27. The company has a market cap of $529.70 million, a price-to-earnings ratio of 19.55 and a beta of 0.61.

Argan (NYSE:AGX – Get Free Report) last posted its quarterly earnings data on Thursday, June 8th. The construction company reported $0.16 earnings per share (EPS) for the quarter. Argan had a net margin of 6.05% and a return on equity of 10.01%. The company had revenue of $103.68 million for the quarter.

Argan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 21st were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, July 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.53%. Argan’s payout ratio is 49.51%.

Argan Company Profile

(Free Report)

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.