UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in Argan, Inc. (NYSE:AGX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Argan, Inc. (NYSE:AGX) by 17.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,570 shares of the construction company’s stock after selling 6,406 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of Argan worth $2,999,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Argan by 10.5% in 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 purchasing an additional 539 shares during the last quarter. CWM LLC raised its holdings 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. SG Americas Securities LLC acquired a new stake in shares of Argan during the second quarter worth about $397,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Argan during the second quarter worth about $251,000. Finally, Calamos Advisors LLC acquired a new position in Argan in the 2nd quarter valued at about $1,831,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Argan Stock Down 0.7 %

NYSE AGX opened at $143.20 on Friday. Argan, Inc. has a fifty-two week low of $43.00 and a fifty-two week high of $165.33. The business has a fifty day moving average of $138.76 and a 200-day moving average of $99.34. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 29.91 and a beta of 0.53.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.74. The business had revenue of $257.00 million for the quarter, compared to analysts’ expectations of $225.60 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company’s revenue for the quarter was up 56.9% compared to the same quarter last year.

Argan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 23rd will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, January 23rd. Argan’s dividend payout ratio (DPR) is presently 31.38%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. CJS Securities reaffirmed a “market perform” rating and set a $150.00 price objective on shares of Argan in a research report on Friday, December 6th. Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and increased their price target for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd. Finally, StockNews.com cut shares of Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th.

Insider Buying and Selling at Argan

In related news, Director William F. Leimkuhler sold 10,000 shares of the company’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 directly owns 35,852 shares of the company’s stock, valued at approximately $3,448,962.40. This represents a 21.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Cynthia Flanders sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was 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 owns 17,332 shares in the company, valued at approximately $1,670,631.48. The trade was a 22.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,703 shares of company stock valued at $3,360,994 over the last three months. 11.85% of the stock is owned by company insiders.

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.