Calamos Advisors LLC Buys New Position in Argan, Inc. (NYSE:AGX)

Calamos Advisors LLC bought a new stake in shares of Argan, Inc. (NYSE:AGX) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 25,024 shares of the construction company’s stock, valued at approximately $1,831,000.

Several other hedge funds have also modified their holdings of the stock. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Argan during the 2nd quarter valued at about $251,000. Ellsworth Advisors LLC raised its holdings in shares of Argan by 3.5% during the 2nd quarter. Ellsworth Advisors LLC now owns 10,862 shares of the construction company’s stock valued at $795,000 after buying an additional 369 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Argan during the 2nd quarter valued at about $397,000. Cardinal Capital Management raised its holdings in shares of Argan by 1.2% during the 2nd quarter. Cardinal Capital Management now owns 29,062 shares of the construction company’s stock valued at $2,126,000 after buying an additional 338 shares during the period. Finally, CWM LLC raised its holdings in shares of Argan by 84.6% during the 2nd 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 period. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Argan

In other news, Director Rainer H. Bosselmann sold 17,000 shares of Argan stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $69.23, for a total value of $1,176,910.00. Following the completion of the transaction, the director now owns 247,719 shares in the company, valued at approximately $17,149,586.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Rainer H. Bosselmann sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $76.85, for a total transaction of $1,921,250.00. Following the completion of the transaction, the director now owns 272,719 shares in the company, valued at approximately $20,958,455.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rainer H. Bosselmann sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $69.23, for a total value of $1,176,910.00. Following the transaction, the director now owns 247,719 shares of the company’s stock, valued at approximately $17,149,586.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,039 shares of company stock worth $7,712,880. 11.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Lake Street Capital raised their price objective on Argan from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, June 7th. StockNews.com lowered Argan from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th.

Argan Stock Up 5.4 %

Shares of NYSE AGX opened at $76.31 on Monday. Argan, Inc. has a fifty-two week low of $39.74 and a fifty-two week high of $81.05. The business has a 50 day moving average price of $73.99 and a two-hundred day moving average price of $63.36. The firm has a market cap of $1.02 billion, a PE ratio of 27.16 and a beta of 0.51.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, June 6th. The construction company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $157.70 million during the quarter, compared to analyst estimates of $134.75 million. Argan had a return on equity of 13.22% and a net margin of 6.08%. Argan’s quarterly revenue was up 52.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 23rd were given a $0.30 dividend. The ex-dividend date was Tuesday, July 23rd. This represents a $1.20 annualized dividend and a dividend yield of 1.57%. Argan’s payout ratio is 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.