Argan, Inc. $AGX Shares Acquired by Osaic Holdings Inc.

Osaic Holdings Inc. boosted its holdings in shares of Argan, Inc. (NYSE:AGX) by 89.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,146 shares of the construction company’s stock after buying an additional 5,251 shares during the period. Osaic Holdings Inc.’s holdings in Argan were worth $2,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Argan in the second quarter worth $44,000. IFP Advisors Inc acquired a new stake in Argan during the 2nd quarter worth about $71,000. EverSource Wealth Advisors LLC raised its position in Argan by 1,116.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the construction company’s stock worth $80,000 after buying an additional 335 shares during the last quarter. State of Wyoming acquired a new stake in Argan during the 1st quarter valued at approximately $109,000. Finally, State of Tennessee Department of Treasury acquired a new position in Argan during the second quarter valued at $129,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Argan Stock Performance

AGX stock opened at $324.28 on Friday. Argan, Inc. has a one year low of $101.02 and a one year high of $399.30. The firm has a market cap of $4.50 billion, a PE ratio of 38.20 and a beta of 0.60. The firm’s 50 day moving average price is $328.91 and its 200-day moving average price is $267.06.

Argan (NYSE:AGX) last posted its earnings results on Thursday, December 4th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.35. Argan had a return on equity of 31.38% and a net margin of 13.11%.The company had revenue of $251.15 million during the quarter, compared to analysts’ expectations of $251.50 million. During the same quarter last year, the firm earned $2.00 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, January 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.6%. Argan’s dividend payout ratio (DPR) is currently 23.56%.

Analyst Upgrades and Downgrades

AGX has been the subject of several analyst reports. CJS Securities raised Argan to a “hold” rating in a report on Thursday, December 11th. Zacks Research upgraded Argan from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $370.00 price target (up previously from $315.00) on shares of Argan in a report on Monday, December 1st. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and lifted their price target for the stock from $260.00 to $325.00 in a research note on Friday, December 5th. Finally, Wall Street Zen raised shares of Argan from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Argan presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.20.

Insiders Place Their Bets

In other news, Director James W. Quinn sold 1,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $328.04, for a total transaction of $328,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Edwin Iv Collins sold 10,000 shares of Argan stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $309.37, for a total transaction of $3,093,700.00. Following the completion of the transaction, the chief executive officer owned 21,006 shares of the company’s stock, valued at $6,498,626.22. This trade represents a 32.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 74,739 shares of company stock worth $21,160,327. Insiders own 6.69% of the company’s stock.

Argan Company Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.