4,102 Shares in Argan, Inc. $AGX Bought by Invst LLC

Invst LLC bought a new position in Argan, Inc. (NYSE:AGX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,102 shares of the construction company’s stock, valued at approximately $538,000.

Other hedge funds have also modified their holdings of the company. Deutsche Bank AG grew its holdings in shares of Argan by 815.1% during the fourth quarter. Deutsche Bank AG now owns 77,460 shares of the construction company’s stock valued at $10,615,000 after buying an additional 68,995 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Argan by 9.9% during the fourth quarter. Lazard Asset Management LLC now owns 15,436 shares of the construction company’s stock valued at $2,115,000 after buying an additional 1,386 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Argan by 50.8% during the fourth quarter. Millennium Management LLC now owns 104,951 shares of the construction company’s stock valued at $14,382,000 after buying an additional 35,355 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Argan by 106.3% during the fourth quarter. Nuveen Asset Management LLC now owns 81,239 shares of the construction company’s stock valued at $11,133,000 after buying an additional 41,859 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of Argan during the fourth quarter valued at $1,042,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Argan news, CEO Charles Edwin Iv Collins sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $245.00, for a total value of $1,225,000.00. Following the completion of the sale, the chief executive officer owned 14,506 shares of the company’s stock, valued at $3,553,970. The trade was a 25.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cynthia Flanders sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $234.56, for a total value of $469,120.00. Following the completion of the sale, the director directly owned 31,428 shares of the company’s stock, valued at $7,371,751.68. This represents a 5.98% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,836 shares of company stock valued at $6,380,666. 6.69% of the stock is owned by corporate insiders.

Argan Price Performance

Shares of NYSE:AGX opened at $230.80 on Friday. Argan, Inc. has a fifty-two week low of $87.79 and a fifty-two week high of $253.79. The business has a 50-day moving average of $223.59 and a two-hundred day moving average of $185.62. The stock has a market capitalization of $3.19 billion, a P/E ratio of 27.74 and a beta of 0.62.

Argan (NYSE:AGX) last announced its quarterly earnings results on Thursday, September 4th. The construction company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.51. Argan had a return on equity of 32.61% and a net margin of 12.73%.The company had revenue of $237.74 million during the quarter, compared to analysts’ expectations of $243.97 million. During the same quarter in the previous year, the firm earned $1.31 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year.

Argan Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Thursday, October 23rd will be given a $0.50 dividend. This is an increase from Argan’s previous quarterly dividend of $0.38. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 23rd. Argan’s payout ratio is presently 18.03%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AGX shares. JPMorgan Chase & Co. started coverage on Argan in a report on Monday, July 21st. They set a “neutral” rating and a $220.00 price target on the stock. Lake Street Capital lifted their price target on Argan from $236.00 to $260.00 and gave the company a “buy” rating in a report on Friday, September 5th. Kepler Capital Markets downgraded Argan from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded Argan from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Argan currently has an average rating of “Hold” and an average target price of $210.00.

Argan Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects 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 projects with approximately 18 gigawatts of power-generating capacity.