Vanguard Group Inc Decreased Argan Inc (NYSE:AGX) Stake By $21.58 Million

May 23, 2018 - By Peter Erickson

Vanguard Group Inc decreased its stake in Argan Inc (NYSE:AGX) by 42.87% based on its latest 2018Q1 regulatory filing with the SEC. Vanguard Group Inc sold 513,880 shares as the company’s stock declined 16.14% with the market. The institutional investor held 684,938 shares of the basic industries company at the end of 2018Q1, valued at $29.42 million, down from 1.20 million at the end of the previous reported quarter. Vanguard Group Inc who had been investing in Argan Inc for a number of months, seems to be less bullish one the $603.25M market cap company. The stock decreased 1.15% or $0.45 during the last trading session, reaching $38.75. About 19,697 shares traded. Argan, Inc. (NYSE:AGX) has declined 40.73% since May 23, 2017 and is downtrending. It has underperformed by 52.28% the S&P500.

Vanguard Group Inc, which manages about $2286.63 billion US Long portfolio, upped its stake in Schlumberger Ltd (NYSE:SLB) by 1.66 million shares to 102.31M shares, valued at $6.63 billion in 2018Q1, according to the filing. It also increased its holding in Xylem Inc (NYSE:XYL) by 243,174 shares in the quarter, for a total of 18.40M shares, and has risen its stake in Ecolab Inc (NYSE:ECL).

Vanguard Group Inc is a Pennsylvania-based institutional investor with more than $2350.00 billion AUM in April, 2014. Vanguard Group Inc is the 1th largest institutional investor in our database. Taken from Vanguard Group latest Adv, the fund reported to have 262 full and part-time employees. Among which 166 performing investment advisory and research functions. The institutional investor had more than 300 clients.

Argan, Inc., through its subsidiaries, provides engineering, procurement, construction, commissioning, activities management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets. The company has market cap of $603.25 million. 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. It has a 7.21 P/E ratio. This segment serves independent power project owners, public utilities, power plant equipment suppliers, and global energy plant construction firms.

Another recent and important Argan, Inc. (NYSE:AGX) news was published by Globenewswire.com which published an article titled: “Recent Analysis Shows Camden Property Trust, Biglari, Argan, Chimerix, Workhorse Group, and Magellan Midstream …” on May 17, 2018.

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