Argan, Inc. (NYSE:AGX) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its holdings in Argan, Inc. (NYSE:AGX) by 64.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,138 shares of the construction company’s stock after selling 18,564 shares during the quarter. GSA Capital Partners LLP’s holdings in Argan were worth $1,028,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Argan in the second quarter valued at $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Argan in the third quarter valued at about $43,000. Copeland Capital Management LLC purchased a new stake in Argan during the third quarter worth about $56,000. Point72 DIFC Ltd purchased a new stake in Argan during the second quarter worth about $70,000. Finally, nVerses Capital LLC acquired a new position in Argan during the third quarter worth about $91,000. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Cynthia Flanders sold 5,000 shares of the business’s stock in a transaction that occurred 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 owns 17,332 shares of the company’s stock, valued at $1,670,631.48. The trade was a 22.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William F. Leimkuhler sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $96.20, for a total transaction of $962,000.00. Following the sale, the director now owns 35,852 shares in the company, valued at approximately $3,448,962.40. This trade represents a 21.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,703 shares of company stock worth $4,257,794 in the last ninety days. Insiders own 11.85% of the company’s stock.

Analyst Ratings Changes

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

Argan Stock Performance

Argan stock opened at $136.56 on Friday. Argan, Inc. has a fifty-two week low of $39.74 and a fifty-two week high of $162.78. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 42.94 and a beta of 0.49. The stock’s fifty day moving average is $116.73 and its two-hundred day moving average is $87.59.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 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 firm had revenue of $227.02 million for the quarter, compared to analysts’ expectations of $191.05 million. Argan’s revenue was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.10%. This is a boost from Argan’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, October 23rd. Argan’s dividend payout ratio (DPR) is 47.17%.

About Argan

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.