2,565 Shares in Argan, Inc. $AGX Bought by AFG Fiduciary Services Limited Partnership

AFG Fiduciary Services Limited Partnership bought a new stake in shares of Argan, Inc. (NYSE:AGX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,565 shares of the construction company’s stock, valued at approximately $716,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AGX. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Argan during the 2nd quarter valued at about $44,000. IFP Advisors Inc bought a new stake in Argan during the second quarter worth approximately $71,000. EverSource Wealth Advisors LLC boosted its position in Argan by 1,116.7% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the construction company’s stock worth $80,000 after purchasing an additional 335 shares during the period. State of Wyoming acquired a new position in Argan during the first quarter valued at approximately $109,000. Finally, State of Tennessee Department of Treasury bought a new position in shares of Argan in the second quarter valued at approximately $129,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Argan Trading Down 1.2%

AGX opened at $324.28 on Monday. The stock has a market cap of $4.50 billion, a PE ratio of 38.20 and a beta of 0.60. Argan, Inc. has a 1 year low of $101.02 and a 1 year high of $399.30. The stock’s 50 day simple moving average is $328.91 and its 200-day simple moving average is $267.37.

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

Argan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 22nd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, January 22nd. Argan’s payout ratio is 23.56%.

Insider Buying and Selling at Argan

In other news, CEO Charles Edwin Iv Collins sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $309.37, for a total value of $3,093,700.00. Following the completion of the transaction, the chief executive officer directly owned 21,006 shares of the company’s stock, valued at approximately $6,498,626.22. This represents a 32.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter W. Getsinger sold 6,493 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $294.39, for a total value of $1,911,474.27. Following the transaction, the director owned 9,897 shares of the company’s stock, valued at $2,913,577.83. This trade represents a 39.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 74,739 shares of company stock worth $21,160,327 in the last 90 days. 6.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and upped their price objective for the stock from $260.00 to $325.00 in a report on Friday, December 5th. JPMorgan Chase & Co. restated a “neutral” rating and set a $370.00 price target (up from $315.00) on shares of Argan in a report on Monday, December 1st. CJS Securities raised Argan to a “hold” rating in a research report on Thursday, December 11th. UBS Group set a $315.00 price objective on Argan in a research report on Monday, October 13th. Finally, The Goldman Sachs Group started coverage on Argan in a research note on Tuesday, November 11th. They set a “buy” rating and a $397.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Argan has an average rating of “Moderate Buy” and an average target price of $355.20.

About Argan

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.