CW Advisors LLC Invests $2.22 Million in Argan, Inc. $AGX

CW Advisors LLC bought a new stake in Argan, Inc. (NYSE:AGX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,070 shares of the construction company’s stock, valued at approximately $2,220,000. CW Advisors LLC owned about 0.07% of Argan at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AGX. Arrowstreet Capital Limited Partnership lifted its position in Argan by 696.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 296,988 shares of the construction company’s stock valued at $65,480,000 after purchasing an additional 259,720 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Argan in the second quarter worth $917,000. Panagora Asset Management Inc. bought a new stake in Argan during the 2nd quarter valued at $12,589,000. Hsbc Holdings PLC bought a new stake in Argan during the 2nd quarter valued at $286,000. Finally, Capital Fund Management S.A. boosted its position in Argan by 39.5% during the 2nd quarter. Capital Fund Management S.A. now owns 46,459 shares of the construction company’s stock valued at $10,243,000 after buying an additional 13,148 shares during the period. 79.43% of the stock is currently owned by institutional investors.

Insider Transactions at Argan

In related news, CEO Charles Edwin Iv Collins sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $309.37, for a total transaction of $3,093,700.00. Following the completion of the transaction, the chief executive officer owned 21,006 shares of the company’s stock, valued at $6,498,626.22. This trade represents a 32.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Hibbert Watson sold 4,441 shares of Argan stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $277.01, for a total value of $1,230,201.41. Following the transaction, the chief executive officer owned 47,691 shares of the company’s stock, valued at $13,210,883.91. The trade was a 8.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 106,795 shares of company stock worth $29,401,111. 6.69% of the stock is owned by insiders.

Argan Stock Performance

AGX stock opened at $312.29 on Friday. Argan, Inc. has a fifty-two week low of $101.02 and a fifty-two week high of $399.30. The business’s 50 day moving average price is $315.23 and its two-hundred day moving average price is $255.32. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 36.78 and a beta of 0.60.

Argan (NYSE:AGX) last released its earnings results on Thursday, December 4th. The construction company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.35. The company had revenue of $251.15 million during the quarter, compared to analysts’ expectations of $251.50 million. Argan had a return on equity of 32.44% 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 quarter last year, the business posted $2.00 EPS.

Argan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Thursday, October 23rd were issued a dividend of $0.50 per share. This is a boost from Argan’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.6%. Argan’s dividend payout ratio (DPR) is presently 23.56%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $370.00 price objective (up previously from $315.00) on shares of Argan in a research report on Monday, December 1st. UBS Group set a $315.00 price target on Argan in a report on Monday, October 13th. The Goldman Sachs Group started coverage on Argan in a report on Tuesday, November 11th. They issued a “buy” rating and a $397.00 price objective for the company. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $260.00 to $325.00 in a research report on Friday. Finally, Zacks Research cut Argan from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Argan currently has a consensus rating of “Hold” and an average target price of $355.20.

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.