Cwm LLC Increases Stock Position in Argan, Inc. (NYSE:AGX)

Cwm LLC lifted its holdings in Argan, Inc. (NYSE:AGX) by 81.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,456 shares of the construction company’s stock after buying an additional 1,999 shares during the quarter. Cwm LLC’s holdings in Argan were worth $452,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Argan in the second quarter worth about $41,000. Point72 DIFC Ltd purchased a new stake in shares of Argan in the 2nd quarter worth approximately $70,000. EntryPoint Capital LLC bought a new position in Argan during the 1st quarter valued at approximately $95,000. Quest Partners LLC raised its stake in Argan by 3,321.4% during the second quarter. Quest Partners LLC now owns 1,916 shares of the construction company’s stock valued at $140,000 after buying an additional 1,860 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Argan in the second quarter worth $251,000. 79.43% of the stock is currently owned by institutional investors.

Insider Activity at Argan

In other Argan news, Director Peter W. Getsinger sold 1,405 shares of Argan stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $78.36, for a total value of $110,095.80. Following the completion of the sale, the director now owns 13,000 shares of the company’s stock, valued at approximately $1,018,680. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Argan news, CEO David Hibbert Watson sold 15,134 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $77.79, for a total value of $1,177,273.86. Following the completion of the transaction, the chief executive officer now owns 44,348 shares of the company’s stock, valued at approximately $3,449,830.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter W. Getsinger sold 1,405 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $78.36, for a total transaction of $110,095.80. Following the sale, the director now directly owns 13,000 shares in the company, valued at approximately $1,018,680. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,539 shares of company stock valued at $4,820,475. 11.85% of the stock is owned by corporate insiders.

Argan Price Performance

Shares of NYSE:AGX opened at $128.79 on Monday. The business has a fifty day moving average price of $91.88 and a 200-day moving average price of $77.01. The company has a market capitalization of $1.72 billion, a PE ratio of 45.83 and a beta of 0.53. Argan, Inc. has a 1-year low of $39.74 and a 1-year high of $135.85.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34. The business had revenue of $227.02 million during the quarter, compared to analyst estimates of $191.05 million. Argan had a net margin of 6.11% and a return on equity of 14.80%. The firm’s quarterly revenue was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd will be issued a $0.375 dividend. This is a positive change from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Wednesday, October 23rd. Argan’s payout ratio is presently 53.38%.

Argan 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.