Argan, Inc. (NYSE:AGX) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in shares of Argan, Inc. (NYSE:AGX) by 18.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,411 shares of the construction company’s stock after selling 1,014 shares during the period. SG Americas Securities LLC’s holdings in Argan were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AGX. American Century Companies Inc. increased its position in Argan by 31.8% during the 2nd quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock valued at $22,336,000 after buying an additional 73,658 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Argan during the 2nd quarter valued at about $5,245,000. Deprince Race & Zollo Inc. acquired a new position in Argan during the 2nd quarter valued at about $3,168,000. Marshall Wace LLP acquired a new position in Argan during the 2nd quarter valued at about $3,166,000. Finally, Acadian Asset Management LLC increased its position in Argan by 32.8% during 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 in the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO David Hibbert Watson sold 15,134 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 44,348 shares of the company’s stock, valued at approximately $3,449,830.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman William F. Griffin, Jr. sold 13,115 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $79.66, for a total value of $1,044,740.90. Following the sale, the chairman now owns 157,604 shares in the company, valued at $12,554,734.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Hibbert Watson sold 15,134 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 44,348 shares in the company, valued at $3,449,830.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,539 shares of company stock valued at $4,820,475. Company insiders own 11.85% of the company’s stock.

Argan Price Performance

Shares of NYSE:AGX opened at $129.28 on Thursday. The business’s 50-day moving average is $89.52 and its 200 day moving average is $75.72. The firm has a market capitalization of $1.73 billion, a P/E ratio of 46.01 and a beta of 0.53. Argan, Inc. has a 1 year low of $39.74 and a 1 year high of $129.98.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34. The business had revenue of $227.02 million for the quarter, compared to analyst estimates of $191.05 million. Argan had a return on equity of 14.80% and a net margin of 6.11%. Argan’s quarterly revenue was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be issued a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.16%. Argan’s dividend 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.