Drucker Wealth 3.0 LLC Buys New Shares in Argan, Inc. $AGX

Drucker Wealth 3.0 LLC purchased a new position in Argan, Inc. (NYSE:AGX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,588 shares of the construction company’s stock, valued at approximately $699,000.

Other large investors have also made changes to their positions in the company. Millennium Management LLC increased its stake in Argan by 12.2% during the first quarter. Millennium Management LLC now owns 117,805 shares of the construction company’s stock valued at $15,452,000 after acquiring an additional 12,854 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Argan by 118.3% during the 1st quarter. NewEdge Advisors LLC now owns 5,316 shares of the construction company’s stock worth $697,000 after purchasing an additional 2,881 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Argan by 13.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,567 shares of the construction company’s stock valued at $4,665,000 after purchasing an additional 4,196 shares during the period. Intech Investment Management LLC raised its stake in shares of Argan by 37.3% in the first quarter. Intech Investment Management LLC now owns 8,985 shares of the construction company’s stock valued at $1,179,000 after purchasing an additional 2,442 shares in the last quarter. Finally, Carnegie Investment Counsel bought a new position in Argan in the second quarter worth $360,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Insider Buying and Selling at Argan

In related news, Director James W. Quinn sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $328.04, for a total value of $328,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Ronald Jr. Jeffrey sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $360.78, for a total value of $1,803,900.00. Following the sale, the director owned 8,192 shares of the company’s stock, valued at approximately $2,955,509.76. The trade was a 37.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 55,915 shares of company stock valued at $20,182,794 over the last three months. Insiders own 6.69% of the company’s stock.

Argan Trading Up 2.1%

NYSE AGX opened at $415.62 on Thursday. Argan, Inc. has a 1-year low of $101.02 and a 1-year high of $449.90. The company has a 50 day moving average of $349.13 and a 200-day moving average of $304.56. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 48.95 and a beta of 0.63.

Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, December 4th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.35. The business had revenue of $251.15 million during the quarter, compared to analysts’ expectations of $251.50 million. Argan had a return on equity of 31.38% and a net margin of 13.11%.The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.00 earnings per share.

Argan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Thursday, January 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, January 22nd. Argan’s dividend payout ratio is presently 23.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Lake Street Capital cut shares of Argan from a “buy” rating to a “hold” rating and increased their price objective for the company from $260.00 to $325.00 in a research note on Friday, December 5th. CJS Securities upgraded shares of Argan to a “hold” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Argan in a report on Wednesday, December 24th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $370.00 price objective (up from $315.00) on shares of Argan in a research note on Monday, December 1st. Finally, Glj Research upgraded Argan from a “hold” rating to a “buy” rating and raised their target price for the stock from $251.00 to $369.00 in a research report on Monday, November 10th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Argan currently has a consensus rating of “Hold” and an average target price of $355.20.

Argan Company Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.