ARGAN INC

Ticker: AGX CUSIP: 04010E109 Class: Common Stock

Ativo Capital Management LLC's Holding History (CIK: 0001423065)

Note: Option positions (PUT/CALL) are excluded.

Q1 2016

Shares 16,865 Value ($000) $593 Avg Close $24.56 Range $21.93 - $27.70

Q4 2015

Shares 16,865 Value ($000) $546 Avg Close $28.09 Range $23.29 - $31.38

Q3 2015

Shares 16,065 Value ($000) $592 Avg Close $29.51 Range $25.32 - $32.60

Q2 2015

Shares 16,065 Value ($000) $632 Avg Close $27.48 Range $23.87 - $31.07

Q1 2015

Shares 15,292 Value ($000) $553 Avg Close $25.00 Range $22.73 - $27.88

Q4 2014

Shares 15,294 Value ($000) $514 Avg Close $25.05 Range $21.95 - $26.92

Q3 2014

Shares 11,587 Value ($000) $387 Avg Close $27.53 Range $24.87 - $30.76

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	16,865	$593	$24.56	$21.93 - $27.70
Q4 2015	16,865	$546	$28.09	$23.29 - $31.38
Q3 2015	16,065	$592	$29.51	$25.32 - $32.60
Q2 2015	16,065	$632	$27.48	$23.87 - $31.07
Q1 2015	15,292	$553	$25.00	$22.73 - $27.88
Q4 2014	15,294	$514	$25.05	$21.95 - $26.92
Q3 2014	11,587	$387	$27.53	$24.87 - $30.76