Argan, Inc. (NYSE:AGX) Stock Holdings Lifted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lifted its position in Argan, Inc. (NYSE:AGX) by 357.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,639 shares of the construction company’s stock after acquiring an additional 27,064 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.26% of Argan worth $3,513,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AGX. Meritage Portfolio Management purchased a new position in Argan during the 3rd quarter valued at about $486,000. CWA Asset Management Group LLC bought a new stake in shares of Argan during the 3rd quarter worth about $1,457,000. Leavell Investment Management Inc. bought a new stake in Argan during the third quarter worth approximately $203,000. Pinnacle Associates Ltd. grew its holdings in Argan by 45.2% during the third quarter. Pinnacle Associates Ltd. now owns 21,712 shares of the construction company’s stock valued at $2,202,000 after purchasing an additional 6,761 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in Argan in the 3rd quarter worth $186,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Argan from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th.

Insider Buying and Selling at Argan

In other news, Director Rainer H. Bosselmann sold 10,105 shares of Argan stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $130.10, for a total value of $1,314,660.50. Following the completion of the transaction, the director now owns 219,879 shares in the company, valued at approximately $28,606,257.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Argan news, Director Rainer H. Bosselmann sold 4,598 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $131.01, for a total transaction of $602,383.98. Following the sale, the director now owns 236,745 shares of the company’s stock, valued at $31,015,962.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rainer H. Bosselmann sold 10,105 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $130.10, for a total transaction of $1,314,660.50. Following the completion of the transaction, the director now directly owns 219,879 shares of the company’s stock, valued at approximately $28,606,257.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,703 shares of company stock worth $4,257,794 over the last ninety days. Corporate insiders own 11.85% of the company’s stock.

Argan Price Performance

Shares of AGX stock opened at $154.14 on Wednesday. The stock has a market cap of $2.08 billion, a P/E ratio of 49.77 and a beta of 0.49. The stock has a fifty day moving average price of $111.96 and a 200 day moving average price of $86.06. Argan, Inc. has a one year low of $39.74 and a one year high of $162.78.

Argan (NYSE:AGX) last posted its earnings results on Thursday, September 5th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.97 by $0.34. Argan had a return on equity of 14.80% and a net margin of 6.11%. The business had revenue of $227.02 million during the quarter, compared to the consensus estimate of $191.05 million. The business’s revenue for the quarter was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd were issued a dividend of $0.375 per share. This is an increase from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, October 23rd. Argan’s dividend payout ratio (DPR) is currently 47.17%.

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.