Quest Partners LLC Boosts Holdings in Argan, Inc. (NYSE:AGX)

Quest Partners LLC grew its stake in Argan, Inc. (NYSE:AGX) by 3,321.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,916 shares of the construction company’s stock after purchasing an additional 1,860 shares during the quarter. Quest Partners LLC’s holdings in Argan were worth $140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Argan in the 1st quarter valued at $95,000. CWM LLC raised its position in shares of Argan by 84.6% in the second quarter. CWM LLC now owns 2,457 shares of the construction company’s stock valued at $180,000 after buying an additional 1,126 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Argan in the second quarter worth about $251,000. Arizona State Retirement System acquired a new position in Argan during the second quarter worth about $258,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Argan by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,656 shares of the construction company’s stock valued at $286,000 after acquiring an additional 539 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Insider Transactions at Argan

In related news, Director James W. Quinn sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $89.68, for a total value of $896,800.00. Following the sale, the director now directly owns 70,422 shares in the company, valued at approximately $6,315,444.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Argan news, Director Rainer H. Bosselmann sold 25,000 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $71.52, for a total transaction of $1,788,000.00. Following the transaction, the director now directly owns 273,916 shares in the company, valued at $19,590,472.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James W. Quinn sold 10,000 shares of Argan stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $89.68, for a total value of $896,800.00. Following the completion of the sale, the director now directly owns 70,422 shares of the company’s stock, valued at $6,315,444.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,539 shares of company stock worth $6,341,435. 11.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AGX has been the subject of a number of analyst reports. Lake Street Capital upped their price target on Argan from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, June 7th. StockNews.com cut Argan from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th.

Argan Price Performance

Shares of AGX stock opened at $90.84 on Tuesday. The company has a market capitalization of $1.21 billion, a PE ratio of 32.33 and a beta of 0.51. The firm’s 50-day moving average is $76.50 and its two-hundred day moving average is $67.36. Argan, Inc. has a 12 month low of $39.74 and a 12 month high of $95.73.

Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, September 5th. The construction company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.97 by $0.34. The firm had revenue of $227.02 million for 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 business’s revenue was up 60.6% on a year-over-year basis.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 23rd were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Tuesday, July 23rd. Argan’s dividend payout ratio (DPR) 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.