Thurston Springer Miller Herd & Titak Inc. Buys Shares of 424 Argan, Inc. (NYSE:AGX)

Thurston Springer Miller Herd & Titak Inc. bought a new stake in Argan, Inc. (NYSE:AGX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 424 shares of the construction company’s stock, valued at approximately $43,000.

Other hedge funds have also modified their holdings of the company. Truist Financial Corp lifted its holdings in shares of Argan by 76.2% in the 2nd quarter. Truist Financial Corp now owns 12,552 shares of the construction company’s stock valued at $918,000 after buying an additional 5,430 shares during the period. Marshall Wace LLP acquired a new stake in shares of Argan in the 2nd quarter valued at approximately $3,166,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Argan in the 2nd quarter valued at approximately $2,628,000. MKP Capital Management L.L.C. acquired a new stake in shares of Argan in the 2nd quarter valued at approximately $878,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Argan by 32.8% in the 2nd quarter. Acadian Asset Management LLC now owns 175,245 shares of the construction company’s stock valued at $12,811,000 after buying an additional 43,258 shares during the period. 79.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO David Hibbert Watson sold 15,134 shares of Argan stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $77.79, for a total transaction of $1,177,273.86. Following the completion of the transaction, the chief executive officer now directly owns 44,348 shares of the company’s stock, valued at approximately $3,449,830.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Peter W. Getsinger sold 1,405 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $1,018,680. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Hibbert Watson sold 15,134 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $77.79, for a total value of $1,177,273.86. Following the completion of the transaction, the chief executive officer now directly owns 44,348 shares of the company’s stock, valued at approximately $3,449,830.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,539 shares of company stock valued at $4,820,475. 11.85% of the stock is owned by insiders.

Argan Price Performance

AGX opened at $120.50 on Wednesday. The business has a 50 day simple moving average of $88.32 and a 200-day simple moving average of $75.34. The stock has a market capitalization of $1.61 billion, a P/E ratio of 42.88 and a beta of 0.53. Argan, Inc. has a 12 month low of $39.74 and a 12 month high of $122.69.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.34. The firm had revenue of $227.02 million during the quarter, compared to analysts’ expectations of $191.05 million. Argan had a return on equity of 14.80% and a net margin of 6.11%. The firm’s quarterly 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. Investors of record on Wednesday, October 23rd will be issued a dividend of $0.375 per share. 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 yield of 1.24%. Argan’s payout ratio is currently 53.38%.

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.