Nisa Investment Advisors LLC Purchases 119 Shares of Argan, Inc. (NYSE:AGX)

Nisa Investment Advisors LLC boosted its stake in Argan, Inc. (NYSE:AGX) by 12.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,059 shares of the construction company’s stock after acquiring an additional 119 shares during the period. Nisa Investment Advisors LLC’s holdings in Argan were worth $139,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new position in Argan in the 4th quarter worth about $32,000. McIlrath & Eck LLC raised its holdings in shares of Argan by 419.4% during the 4th quarter. McIlrath & Eck LLC now owns 374 shares of the construction company’s stock worth $51,000 after acquiring an additional 302 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Argan by 1,123.5% during the 4th quarter. Federated Hermes Inc. now owns 416 shares of the construction company’s stock worth $57,000 after acquiring an additional 382 shares in the last quarter. Amundi raised its holdings in Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company’s stock valued at $118,000 after buying an additional 68 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new stake in Argan in the fourth quarter worth $138,000. Institutional investors own 79.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Peter W. Getsinger sold 3,456 shares of the business’s stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $212.01, for a total transaction of $732,706.56. Following the completion of the transaction, the director directly owned 14,895 shares of the company’s stock, valued at approximately $3,157,888.95. The trade was a 18.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James W. Quinn sold 40,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were 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 owned 16,557 shares in the company, valued at approximately $3,442,531.44. The trade was a 70.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,404 shares of company stock worth $18,221,387 over the last ninety days. Company insiders own 6.69% of the company’s stock.

Argan Price Performance

Shares of NYSE:AGX opened at $204.23 on Friday. The business’s 50 day moving average price is $206.55 and its 200-day moving average price is $164.05. The firm has a market capitalization of $2.79 billion, a PE ratio of 28.64 and a beta of 0.54. Argan, Inc. has a 1 year low of $63.53 and a 1 year high of $246.60.

Argan (NYSE:AGX) last announced its quarterly 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 return on equity of 29.61% and a net margin of 11.00%. The business had revenue of $193.66 million for the quarter, compared to analyst estimates of $193.75 million. During the same quarter in the prior year, the company posted $0.58 EPS. The company’s quarterly revenue was up 22.8% on a year-over-year basis.

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 23rd will be issued a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. Argan’s dividend payout ratio is presently 21.04%.

Analyst Ratings Changes

AGX has been the topic of a number of recent research reports. Lake Street Capital increased their price target on Argan from $150.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. Kepler Capital Markets cut Argan from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 28th.

About Argan

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.