Carnegie Investment Counsel Increases Stake in Argan, Inc. $AGX

Carnegie Investment Counsel lifted its stake in shares of Argan, Inc. (NYSE:AGX) by 56.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,294 shares of the construction company’s stock after buying an additional 1,187 shares during the quarter. Carnegie Investment Counsel’s holdings in Argan were worth $1,032,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Millennium Management LLC grew its holdings in Argan by 12.2% during the 1st quarter. Millennium Management LLC now owns 117,805 shares of the construction company’s stock worth $15,452,000 after acquiring an additional 12,854 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Argan by 118.3% during the 1st quarter. NewEdge Advisors LLC now owns 5,316 shares of the construction company’s stock worth $697,000 after purchasing an additional 2,881 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Argan by 13.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,567 shares of the construction company’s stock worth $4,665,000 after purchasing an additional 4,196 shares in the last quarter. Intech Investment Management LLC increased its holdings in Argan by 37.3% in the first quarter. Intech Investment Management LLC now owns 8,985 shares of the construction company’s stock valued at $1,179,000 after buying an additional 2,442 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Argan in the second quarter valued at $286,000. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AGX shares. Zacks Research raised Argan from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. raised Argan from a “neutral” rating to an “overweight” rating and set a $550.00 target price on the stock in a research report on Friday, March 27th. The Goldman Sachs Group boosted their target price on Argan from $399.00 to $518.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Argan in a report on Monday, April 6th. Finally, Lake Street Capital raised their price objective on shares of Argan from $325.00 to $375.00 and gave the stock a “hold” rating in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $425.40.

Insider Buying and Selling at Argan

In other news, Director Peter W. Getsinger sold 2,581 shares of Argan stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $552.73, for a total value of $1,426,596.13. Following the transaction, the director directly owned 10,847 shares of the company’s stock, valued at $5,995,462.31. The trade was a 19.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William F. Leimkuhler sold 11,044 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $379.15, for a total transaction of $4,187,332.60. Following the completion of the sale, the director owned 49,939 shares of the company’s stock, valued at approximately $18,934,371.85. This trade represents a 18.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 49,093 shares of company stock valued at $19,602,378. 6.69% of the stock is currently owned by insiders.

Trending Headlines about Argan

Here are the key news stories impacting Argan this week:

• Positive Sentiment: Board-authorized share repurchase — The company’s board approved a $200 million buyback (up to ~2.5% of shares), and management also expanded its repurchase activity recently, which supports earnings per-share and signals management confidence. Why Argan Stock Crushed it on Thursday
• Positive Sentiment: Analyst backing and higher price target — At least one published note raised Argan’s price target substantially (reported +28.1% to $503.88), which can lend near-term support from momentum and quant funds that follow targets. Argan (AGX) price target increased by 28.09% to 503.88
• Positive Sentiment: Dividend declared — Argan declared a quarterly cash dividend of $0.50 per share (record April 22, payable April 30), adding a modest income component to shareholder returns. (Ex‑div date April 22.)
• Positive Sentiment: Analyst consensus & institutional interest — Analysts’ average rating sits around “Moderate Buy,” and at least one small institutional position (BIP Wealth LLC) was recently established, signaling continued institutional engagement. Argan, Inc. (NYSE:AGX) Receives Average Rating of “Moderate Buy” from Analysts BIP Wealth LLC Makes New Investment in Argan, Inc. $AGX
• Neutral Sentiment: Momentum and sector write-ups — Coverage from Zacks highlights Argan as a momentum candidate and includes it among building-product/infrastructure beneficiaries; useful for sentiment but not a direct catalyst. What Makes Argan (AGX) a Strong Momentum Stock: Buy Now? 4 Building Product Stocks to Buy Despite Ongoing Industry Pressure
• Negative Sentiment: Surge in short interest — Short interest jumped ~38.6% in March to ~795k shares (about 6.1% of float). That increase introduces downside pressure and the potential for heightened volatility, even though the short-interest days-to-cover is low (~1.0 day).

Argan Stock Performance

Shares of AGX stock opened at $603.48 on Monday. The stock’s 50-day moving average is $460.56 and its two-hundred day moving average is $371.41. Argan, Inc. has a 1 year low of $126.07 and a 1 year high of $615.68. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 61.96 and a beta of 0.46.

Argan (NYSE:AGX) last posted its earnings results on Thursday, March 26th. The construction company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $1.99 by $1.48. The business had revenue of $262.05 million during the quarter, compared to the consensus estimate of $255.32 million. Argan had a return on equity of 33.62% and a net margin of 14.59%.The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.22 EPS.

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 22nd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, April 22nd. Argan’s dividend payout ratio is presently 20.53%.

Argan declared that its board has initiated a share buyback program on Wednesday, April 8th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Argan Company Profile

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.