Advisory Services Network LLC Makes New $287,000 Investment in Argan, Inc. (NYSE:AGX)

Advisory Services Network LLC purchased a new stake in Argan, Inc. (NYSE:AGX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,098 shares of the construction company’s stock, valued at approximately $287,000.

A number of other institutional investors have also recently modified their holdings of AGX. Renaissance Technologies LLC lifted its holdings in Argan by 21.0% in the fourth quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company’s stock valued at $92,170,000 after acquiring an additional 116,783 shares during the period. Thames Capital Management LLC grew its position in Argan by 286.8% during the fourth quarter. Thames Capital Management LLC now owns 117,384 shares of the construction company’s stock worth $16,086,000 after buying an additional 87,038 shares during the period. Bank of New York Mellon Corp increased its holdings in Argan by 80.3% in the fourth quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company’s stock valued at $25,549,000 after buying an additional 83,039 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Argan by 37.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company’s stock valued at $40,475,000 after acquiring an additional 80,844 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Argan by 18.1% during the 4th quarter. American Century Companies Inc. now owns 480,658 shares of the construction company’s stock worth $65,869,000 after acquiring an additional 73,654 shares in the last quarter. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Argan Trading Down 1.7 %

Shares of AGX stock opened at $146.19 on Friday. Argan, Inc. has a twelve month low of $60.03 and a twelve month high of $191.46. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 30.58 and a beta of 0.45. The firm has a 50-day moving average price of $130.57 and a 200 day moving average price of $139.22.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $1.07. The business had revenue of $232.47 million for the quarter, compared to the consensus estimate of $197.50 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The business’s revenue was up 41.3% compared to the same quarter last year.

Argan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Tuesday, April 22nd. Argan’s payout ratio is 24.55%.

Analyst Ratings Changes

Separately, Lake Street Capital upgraded shares of Argan from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Friday, March 28th.

Insider Buying and Selling at Argan

In related news, Director Peter W. Getsinger sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total transaction of $725,150.00. Following the completion of the transaction, the director now owns 11,496 shares of the company’s stock, valued at approximately $1,667,264.88. This represents a 30.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.85% of the stock is 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.