9,585 Shares in Argan, Inc. $AGX Bought by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG bought a new position in shares of Argan, Inc. (NYSE:AGX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,585 shares of the construction company’s stock, valued at approximately $2,588,000. B. Metzler seel. Sohn & Co. AG owned about 0.07% of Argan at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of 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 raised its stake in shares of Argan by 118.3% in the 1st quarter. NewEdge Advisors LLC now owns 5,316 shares of the construction company’s stock valued at $697,000 after acquiring an additional 2,881 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Argan by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,567 shares of the construction company’s stock valued at $4,665,000 after acquiring an additional 4,196 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Argan by 37.3% in the 1st quarter. Intech Investment Management LLC now owns 8,985 shares of the construction company’s stock worth $1,179,000 after purchasing an additional 2,442 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in Argan in the 2nd quarter worth approximately $418,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Insider Activity at Argan

In related news, Director William F. Leimkuhler sold 11,044 shares of the company’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $379.15, for a total value of $4,187,332.60. Following the completion of the sale, the director owned 49,939 shares in the company, valued at approximately $18,934,371.85. This represents a 18.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Ronald Jr. Jeffrey sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $360.78, for a total value of $1,803,900.00. Following the completion of the sale, the director directly owned 8,192 shares of the company’s stock, valued at approximately $2,955,509.76. This trade represents a 37.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 55,915 shares of company stock worth $20,182,794 over the last 90 days. Insiders own 6.69% of the company’s stock.

Analyst Ratings Changes

AGX has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Argan in a report on Tuesday, November 11th. They set a “buy” rating and a $397.00 price target on the stock. Glj Research upgraded shares of Argan from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $251.00 to $369.00 in a research note on Monday, November 10th. CJS Securities upgraded shares of Argan to a “hold” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $370.00 price objective (up from $315.00) on shares of Argan in a research report on Monday, December 1st. Finally, Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and lifted their target price for the stock from $260.00 to $325.00 in a research report on Friday, December 5th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $355.20.

Argan Trading Up 12.6%

AGX opened at $466.43 on Tuesday. The stock has a market capitalization of $6.47 billion, a PE ratio of 54.94 and a beta of 0.57. The firm has a 50-day moving average price of $380.21 and a two-hundred day moving average price of $324.89. Argan, Inc. has a 1-year low of $101.02 and a 1-year high of $469.88.

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Thursday, January 22nd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Thursday, January 22nd. Argan’s dividend payout ratio (DPR) is presently 23.56%.

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.