In August, there was a noticeable rise in the overall number of short positions held by Argan, Inc. (NYSE: AGX). As of August 15, 267,000 shares had been borrowed, a 9.9% rise from the 243,000 shares that had been borrowed the day before. Short sales account for 2% of the total number of shares actively traded in the corporation. The days-to-cover ratio currently stands at 3.4 days at this moment. This figure was arrived at by considering that the daily volume of trading for shares is, on average, 78,800. On Tuesday, AGX shares were trading for $34.98 a share. The company’s moving averages over the past 50 and 200 days are currently at $36.69 and $38.08, respectively. During the previous year, the price of Argan fluctuated between $34.22 and $49.60, hitting an all-time low of $34.22 and an all-time high of $49.60. The firm’s market value is $496.82 million, and it has a price-to-earnings ratio of 15.69.
Additionally, its beta value is 0.52, which indicates that the company is in excellent financial shape. On June 8, the most current quarterly report made publically available for consumption by Argan (NYSE: AGX) was made available. At the end of the previous fiscal quarter, the building company reported $0.50 per share (EPS) earnings. The company sold one hundred twenty-eight million dollars worth of goods and services over the period covered by the report. The return on equity for Argan was calculated to be 13.01%, and the net margin for the company was calculated to be 7.23%. In addition, the company has recently declared and distributed a quarterly dividend, which took place on July 29. This dividend was handed out to shareholders. On Friday, July 23, the company paid a dividend to shareholders as of Thursday, July 21. The amount of the dividend was $0.25. Wednesday, July 20, was the date that shareholders were obligated to pay taxes on this dividend. Consequently, the yield is 2.86%, and the annual dividend payment is $1. According to recent calculations, the dividend payout rate for Argan is currently 44.84%.
Several market analysts have recently expressed opinions on the AGX stock, which can be found in recent articles. Argan’s share price rating was raised from a “c” to a “b-” by TheStreet in a research report released on Friday, June 17. In a research note issued on Friday, July 22, Bloomberg dropped their stock recommendation for Argan from “buy” to “hold.” The report stated that the company’s stock rating had been cut. Institutional investors have been buying and selling shares of the company’s stock in the past few months. These transactions have taken place quite recently. These dealings have only occurred within the past few years. Argania River Road Asset Management LLC had a 1.6% increase in the value of its assets in Argan during the first three months of 2018. River Road Asset Management LLC now has 1,877,626 shares of the construction company’s stock, worth a combined total of $76,213,000 after making a new purchase of 29,763 shares during the quarter. This brings the total number of shares owned by River Road Asset Management LLC to 1,877,626. BlackRock Inc. boosted the proportion of Aragon it held in its portfolio by 0.4 percentage points throughout the first quarter. BlackRock Inc. is the owner of 1,259,175 stock held by the construction firm.
The value of these holdings is $51,110,000. This is because, during the quarter, an additional 5,487 shares were purchased, which led to this development. Dimensional Fund Advisors LP increased its share of Argan by 9.9 percent in the first three months of this year. Dimensional Fund Advisors LP is currently the owner of 763,161 shares of the stock belonging to the construction company. This results from the firm’s purchasing an additional 69,059 shares over the period in question. At the moment, the price of the stock is determined to be $30,976,000. In the fourth quarter of 2018, JPMorgan Chase & Co. invested 15.1% more of its portfolio in argan oil than in the previous quarter. JPMorgan Chase & Co. owns a total of 629,025 shares with a combined value of $24,337,000. Since the end of the prior quarter, the company has added 82,514 additional shares to its holdings. And last, during the second quarter, Renaissance Technologies LLC added 10.1% more Argan stock to its holdings, bringing the total proportion of the company’s ownership in the company up to 100%.
Renaissance Technologies LLC now owns a total of 531,999 shares of the construction company’s stock, with a market value of $19,854,000. This brings the total number of shares owned by the business to 531,999, following the purchase of an additional 48,700 shares during the most recent quarter. To the tune of 88.89% of the company’s shares, hedge funds and other types of institutional investors are the owners. Argan Oil, Through its subsidiaries, Argan, Inc., supports the industries of power generation and renewable energy by offering services in the areas of project development, technical engineering, procurement, construction, commissioning, operations management, maintenance, and consultancy. The corporation can be broken down into three key business sectors or divisions: Telecommunications Infrastructure Services, Industrial Fabrication and Field Services, and Power Industry Services.