Dimensional Fund Advisors LP Sells 65,095 Shares of Argan, Inc. (NYSE:AGX)

Dimensional Fund Advisors LP cut its holdings in Argan, Inc. (NYSE:AGX) by 8.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 715,997 shares of the construction company’s stock after selling 65,095 shares during the quarter. Dimensional Fund Advisors LP owned about 5.36% of Argan worth $52,383,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. EntryPoint Capital LLC acquired a new stake in Argan during the 1st quarter worth approximately $95,000. Quest Partners LLC raised its holdings in Argan by 3,321.4% during the 2nd quarter. Quest Partners LLC now owns 1,916 shares of the construction company’s stock worth $140,000 after buying an additional 1,860 shares during the period. CWM LLC raised its holdings in Argan by 84.6% during the 2nd quarter. CWM LLC now owns 2,457 shares of the construction company’s stock worth $180,000 after buying an additional 1,126 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in Argan during the 2nd quarter worth approximately $251,000. Finally, Arizona State Retirement System acquired a new stake in Argan during the 2nd quarter worth approximately $258,000. 79.43% of the stock is owned by institutional investors.

Insider Activity at Argan

In related news, Director Cynthia Flanders sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the completion of the transaction, the director now directly owns 17,332 shares of the company’s stock, valued at $1,670,631.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Peter W. Getsinger sold 1,405 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were 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 of the company’s stock, valued at $1,018,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia Flanders sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the transaction, the director now directly owns 17,332 shares of the company’s stock, valued at $1,670,631.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,539 shares of company stock valued at $7,785,385. 11.85% of the stock is owned by corporate insiders.

Argan Stock Up 2.0 %

NYSE AGX opened at $100.43 on Friday. Argan, Inc. has a 12-month low of $39.74 and a 12-month high of $103.00. The company has a market capitalization of $1.36 billion, a PE ratio of 35.74 and a beta of 0.51. The firm’s 50 day moving average is $80.19 and its 200-day moving average is $70.05.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $191.05 million. The firm’s revenue for the quarter was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd will be paid a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 annualized dividend and a dividend yield of 1.49%. Argan’s dividend payout ratio (DPR) is currently 42.70%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com downgraded shares of Argan from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th. Lake Street Capital raised their target price on shares of Argan from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, June 7th.

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.