Hays Advisory Lowers stake in Argan (AGX)

Argan (AGX) : Hays Advisory reduced its stake in Argan by 28.32% during the most recent quarter end. The investment management company now holds a total of 139,785 shares of Argan which is valued at $8,100,541 after selling 55,229 shares in Argan , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Argan makes up approximately 1.37% of Hays Advisory’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co sold out all of its stake in AGX during the most recent quarter. The investment firm sold 2,400 shares of AGX which is valued $137,688.Bnp Paribas Arbitrage Sa boosted its stake in AGX in the latest quarter, The investment management firm added 419 additional shares and now holds a total of 936 shares of Argan which is valued at $54,999.Independent Portfolio Consultants reduced its stake in AGX by selling 160 shares or 21.92% in the most recent quarter. The Hedge Fund company now holds 570 shares of AGX which is valued at $33,493. Argan makes up approx 0.01% of Independent Portfolio Consultants’s portfolio.

Argan closed down -0.58 points or -1.00% at $57.37 with 2,83,581 shares getting traded on Tuesday. Post opening the session at $57.95, the shares hit an intraday low of $57.27 and an intraday high of $57.95 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

Investors should note that on Sep 15, 2016, Argan announced a cash dividend of $0.7000. The company’s management has announced Oct 14, 2016 as the ex-dividend date and fixed the record date on Oct 18, 2016. The payable date has been fixed on Oct 28, 2016.

Argan Inc. is a holding company. The Company conducts operations through its wholly owned subsidiaries Gemma Power Systems LLC and affiliates (GPS) and Southern Maryland Cable Inc. (SMC). The Company operates in two segments: power industry services and telecommunications infrastructure services. Through GPS the Company provides a range of development consulting engineering procurement construction commissioning operations and maintenance services to the power generation and renewable energy markets for a variety of customers including public utilities independent power project owners municipalities public institutions and private industry. Through SMC it provides telecommunications infrastructure services including project management construction and maintenance to the federal government local governments telecommunications and broadband service providers as well as electric utilities.

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