Copeland Capital Management LLC Takes Position in Argan, Inc. (NYSE:AGX)

Copeland Capital Management LLC acquired a new stake in Argan, Inc. (NYSE:AGX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 557 shares of the construction company’s stock, valued at approximately $56,000.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Argan by 283.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 57,536 shares of the construction company’s stock worth $5,836,000 after acquiring an additional 42,527 shares during the last quarter. Cardinal Capital Management grew its position in Argan by 6.9% during the 3rd quarter. Cardinal Capital Management now owns 31,080 shares of the construction company’s stock worth $3,152,000 after acquiring an additional 2,018 shares during the last quarter. nVerses Capital LLC bought a new stake in Argan during the 3rd quarter worth approximately $91,000. Creative Planning grew its position in Argan by 5.2% during the 3rd quarter. Creative Planning now owns 10,616 shares of the construction company’s stock worth $1,077,000 after acquiring an additional 521 shares during the last quarter. Finally, Sapient Capital LLC bought a new stake in Argan during the 3rd quarter worth approximately $4,783,000. 79.43% of the stock is currently owned by institutional investors.

Argan Price Performance

NYSE AGX opened at $125.01 on Wednesday. The firm has a market cap of $1.69 billion, a PE ratio of 39.31 and a beta of 0.53. Argan, Inc. has a one year low of $39.74 and a one year high of $135.85. The stock’s 50 day simple moving average is $94.15 and its 200 day simple moving average is $78.09.

Argan (NYSE:AGX) last posted 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 for the quarter, compared to the consensus estimate of $191.05 million. Argan had a return on equity of 14.80% and a net margin of 6.11%. The company’s quarterly revenue was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd will be paid a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Argan’s previous quarterly dividend of $0.30. Argan’s dividend payout ratio is 37.74%.

Insider Buying and Selling

In related news, Chairman William F. Griffin, Jr. sold 1,885 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $78.31, for a total transaction of $147,614.35. Following the sale, the chairman now owns 175,719 shares of the company’s stock, valued at approximately $13,760,554.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Chairman William F. Griffin, Jr. sold 13,115 shares of the firm’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 completion of the transaction, the chairman now owns 157,604 shares in the company, valued at $12,554,734.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William F. Griffin, Jr. sold 1,885 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $78.31, for a total value of $147,614.35. Following the completion of the transaction, the chairman now owns 175,719 shares of the company’s stock, valued at $13,760,554.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,703 shares of company stock valued at $5,450,150. 11.85% of the stock is owned by company insiders.

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.