nVerses Capital LLC Acquires New Shares in Argan, Inc. (NYSE:AGX)

nVerses Capital LLC acquired a new stake in shares of Argan, Inc. (NYSE:AGX) during the third quarter, according to its most recent filing with the SEC. The fund acquired 900 shares of the construction company’s stock, valued at approximately $91,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Creative Planning raised its stake in shares of Argan by 5.2% during the 3rd quarter. Creative Planning now owns 10,616 shares of the construction company’s stock valued at $1,077,000 after purchasing an additional 521 shares during the period. Sapient Capital LLC purchased a new position in Argan during the third quarter worth about $4,783,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Argan during the third quarter worth about $43,000. Inspire Investing LLC purchased a new position in Argan during the third quarter worth about $416,000. Finally, CWM LLC grew its position in Argan by 81.4% during the third quarter. CWM LLC now owns 4,456 shares of the construction company’s stock worth $452,000 after buying an additional 1,999 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors.

Insider Transactions at Argan

In other news, Director Peter W. Getsinger sold 1,405 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 13,000 shares in the company, valued at approximately $1,018,680. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Peter W. Getsinger sold 1,405 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 13,000 shares in the company, valued at approximately $1,018,680. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William F. Leimkuhler sold 10,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $96.20, for a total value of $962,000.00. Following the completion of the transaction, the director now owns 35,852 shares of the company’s stock, valued at $3,448,962.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,539 shares of company stock worth $4,820,475. 11.85% of the stock is currently owned by corporate insiders.

Argan Stock Down 0.2 %

Argan stock opened at $128.79 on Monday. Argan, Inc. has a 52 week low of $39.74 and a 52 week high of $135.85. The business has a 50-day simple moving average of $91.88 and a 200 day simple moving average of $77.01. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 45.83 and a beta of 0.53.

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 analysts’ expectations of $191.05 million. The firm’s 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. Stockholders of record on Wednesday, October 23rd will be issued a $0.375 dividend. This is a boost from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, October 23rd. Argan’s dividend 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.