US Bancorp DE Decreases Stake in Argan, Inc. (NYSE:AGX)

US Bancorp DE trimmed its holdings in shares of Argan, Inc. (NYSE:AGX) by 28.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,483 shares of the construction company’s stock after selling 2,535 shares during the quarter. US Bancorp DE’s holdings in Argan were worth $658,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Argan in the 3rd quarter valued at approximately $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Argan in the second quarter worth approximately $41,000. Copeland Capital Management LLC bought a new position in shares of Argan during the 3rd quarter valued at about $56,000. nVerses Capital LLC acquired a new stake in shares of Argan during the 3rd quarter valued at $91,000. Finally, Point72 DIFC Ltd purchased a new position in Argan in the 2nd quarter worth about $70,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Argan Stock Up 0.2 %

Shares of AGX opened at $155.29 on Monday. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 48.83 and a beta of 0.49. Argan, Inc. has a 12 month low of $39.74 and a 12 month high of $159.70. The company’s fifty day moving average is $110.40 and its 200-day moving average is $85.22.

Argan (NYSE:AGX) last released its earnings results on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.34. The firm had revenue of $227.02 million during the quarter, compared to analyst estimates of $191.05 million. Argan had a net margin of 6.11% and a return on equity of 14.80%. The company’s quarterly revenue was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.97%. This is a positive change from Argan’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, October 23rd. Argan’s payout ratio is currently 47.17%.

Insiders Place Their Bets

In other Argan news, Director William F. Leimkuhler sold 10,000 shares of Argan stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $96.20, for a total transaction of $962,000.00. Following the completion of the transaction, the director now directly owns 35,852 shares of the company’s stock, valued at approximately $3,448,962.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Rainer H. Bosselmann sold 4,598 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $131.01, for a total transaction of $602,383.98. Following the transaction, the director now owns 236,745 shares of the company’s stock, valued at $31,015,962.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William F. Leimkuhler sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $96.20, for a total transaction of $962,000.00. Following the sale, the director now directly owns 35,852 shares of the company’s stock, valued at approximately $3,448,962.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,703 shares of company stock worth $4,257,794 over the last 90 days. Corporate insiders own 11.85% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th.

Argan Company 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.