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

Los Angeles Capital Management LLC reduced its stake in shares of Argan, Inc. (NYSE:AGX) by 89.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,698 shares of the construction company’s stock after selling 40,562 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Argan were worth $237,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd increased its position in Argan by 7.9% in the 4th quarter. Quadrature Capital Ltd now owns 16,754 shares of the construction company’s stock worth $785,000 after purchasing an additional 1,233 shares during the last quarter. Pinnacle Holdings LLC increased its holdings in Argan by 6.5% in the fourth quarter. Pinnacle Holdings LLC now owns 26,358 shares of the construction company’s stock worth $1,233,000 after buying an additional 1,612 shares during the last quarter. Trexquant Investment LP bought a new position in Argan during the fourth quarter valued at approximately $623,000. Essex Investment Management Co. LLC acquired a new stake in Argan in the fourth quarter valued at approximately $2,300,000. Finally, Seizert Capital Partners LLC bought a new stake in Argan in the fourth quarter worth approximately $280,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Argan

In other Argan news, Chairman William F. Griffin, Jr. sold 15,000 shares of Argan stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $59.99, for a total value of $899,850.00. Following the transaction, the chairman now directly owns 14,150 shares of the company’s stock, valued at approximately $848,858.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Argan news, Chairman William F. Griffin, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $59.99, for a total value of $899,850.00. Following the sale, the chairman now directly owns 14,150 shares in the company, valued at approximately $848,858.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard H. Deily sold 6,256 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $61.15, for a total transaction of $382,554.40. Following the transaction, the chief financial officer now directly owns 8,185 shares of the company’s stock, valued at approximately $500,512.75. The disclosure for this sale can be found here. Insiders sold a total of 69,106 shares of company stock worth $4,662,427 in the last 90 days. 11.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Lake Street Capital raised their price target on shares of Argan from $70.00 to $85.00 and gave the company a “buy” rating in a report on Friday, June 7th. StockNews.com lowered Argan from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th.

Argan Stock Down 2.5 %

Shares of AGX stock opened at $73.25 on Friday. Argan, Inc. has a 12 month low of $37.37 and a 12 month high of $78.95. The company has a market cap of $977.89 million, a PE ratio of 26.07 and a beta of 0.45. The business’s 50 day moving average is $69.00 and its two-hundred day moving average is $55.17.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, June 6th. The construction company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. The business had revenue of $157.70 million during the quarter, compared to the consensus estimate of $134.75 million. Argan had a net margin of 6.08% and a return on equity of 13.22%. Argan’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS.

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Tuesday, July 23rd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, July 23rd. This represents a $1.20 annualized dividend and a dividend yield of 1.64%. Argan’s dividend payout ratio is presently 42.70%.

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.