Wealth Enhancement Advisory Services LLC Purchases 566 Shares of Argan, Inc. (NYSE:AGX)

Wealth Enhancement Advisory Services LLC increased its position in shares of Argan, Inc. (NYSE:AGX) by 22.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,138 shares of the construction company’s stock after buying an additional 566 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Argan were worth $430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AGX. Farther Finance Advisors LLC acquired a new position in shares of Argan during the fourth quarter worth approximately $32,000. Global Retirement Partners LLC bought a new stake in Argan during the 4th quarter valued at $35,000. McIlrath & Eck LLC increased its stake in Argan by 419.4% during the 4th quarter. McIlrath & Eck LLC now owns 374 shares of the construction company’s stock valued at $51,000 after purchasing an additional 302 shares in the last quarter. Truvestments Capital LLC acquired a new position in Argan during the fourth quarter worth $57,000. Finally, Federated Hermes Inc. lifted its stake in shares of Argan by 1,123.5% in the fourth quarter. Federated Hermes Inc. now owns 416 shares of the construction company’s stock valued at $57,000 after buying an additional 382 shares in the last quarter. Institutional investors own 79.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AGX. Kepler Capital Markets downgraded shares of Argan from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. Lake Street Capital raised their price target on shares of Argan from $150.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, June 5th.

Argan Trading Down 0.9%

NYSE AGX opened at $222.26 on Friday. The business has a fifty day simple moving average of $173.97 and a 200 day simple moving average of $152.92. Argan, Inc. has a 12 month low of $63.53 and a 12 month high of $246.60. The firm has a market capitalization of $3.03 billion, a P/E ratio of 46.50 and a beta of 0.55.

Argan (NYSE:AGX) last announced its earnings results on Wednesday, June 4th. The construction company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.09 by $0.51. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company had revenue of $193.66 million during the quarter, compared to the consensus estimate of $193.75 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis.

Argan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd were paid a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $1.50 annualized dividend and a yield of 0.67%. Argan’s dividend payout ratio (DPR) is 21.04%.

Insider Buying and Selling at Argan

In other Argan news, Director James W. Quinn sold 40,000 shares of the company’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $207.92, for a total value of $8,316,800.00. Following the completion of the transaction, the director now owns 16,557 shares in the company, valued at $3,442,531.44. This represents a 70.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter W. Getsinger sold 5,000 shares of Argan stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total value of $725,150.00. Following the sale, the director now owns 11,496 shares in the company, valued at $1,667,264.88. The trade was a 30.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,585 shares of company stock worth $12,666,783. Insiders own 6.69% of the company’s stock.

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.