Argan, Inc. (NYSE:AGX) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Argan, Inc. (NYSE:AGX) by 279.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,635 shares of the construction company’s stock after purchasing an additional 10,041 shares during the period. Victory Capital Management Inc. owned about 0.10% of Argan worth $1,383,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Argan in the second quarter worth $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Argan in the 3rd quarter valued at about $43,000. Copeland Capital Management LLC purchased a new position in Argan in the 3rd quarter valued at about $56,000. Point72 DIFC Ltd acquired a new stake in shares of Argan during the 2nd quarter worth about $70,000. Finally, nVerses Capital LLC purchased a new stake in shares of Argan during the third quarter worth about $91,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Argan Trading Down 1.0 %

Argan stock opened at $157.04 on Tuesday. The stock has a fifty day moving average price of $123.58 and a 200 day moving average price of $91.53. Argan, Inc. has a 52 week low of $39.74 and a 52 week high of $164.00. The firm has a market capitalization of $2.12 billion, a P/E ratio of 49.38 and a beta of 0.49.

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

Argan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd were paid a $0.375 dividend. This is a positive change from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Wednesday, October 23rd. Argan’s payout ratio is currently 47.17%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Argan

In other news, Director Rainer H. Bosselmann sold 4,598 shares of Argan stock in a transaction that occurred on 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 in the company, valued at $31,015,962.45. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James W. Quinn sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $89.68, for a total transaction of $896,800.00. Following the completion of the transaction, the director now owns 70,422 shares of the company’s stock, valued at $6,315,444.96. This trade represents a 12.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,703 shares of company stock worth $4,257,794. 11.85% of the stock is currently owned by company insiders.

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.