Bearing Point Capital LLC Increases Stock Position in Argan, Inc. $AGX

Bearing Point Capital LLC raised its holdings in Argan, Inc. (NYSE:AGX) by 7.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,020 shares of the construction company’s stock after purchasing an additional 1,936 shares during the quarter. Argan makes up 1.3% of Bearing Point Capital LLC’s investment portfolio, making the stock its 23rd largest position. Bearing Point Capital LLC’s holdings in Argan were worth $8,466,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AGX. Aster Capital Management DIFC Ltd purchased a new stake in Argan in the 3rd quarter valued at approximately $25,000. Danske Bank A S purchased a new stake in shares of Argan during the 3rd quarter worth approximately $27,000. Montag A & Associates Inc. purchased a new stake in shares of Argan during the 4th quarter worth approximately $30,000. Accredited Wealth Management LLC purchased a new stake in shares of Argan during the 3rd quarter worth approximately $32,000. Finally, USA Financial Formulas purchased a new stake in shares of Argan during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Insider Transactions at Argan

In related news, Director Alexander Lisa Larroque sold 350 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $630.58, for a total value of $220,703.00. Following the sale, the director owned 350 shares of the company’s stock, valued at approximately $220,703. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter W. Getsinger sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $628.36, for a total value of $1,885,080.00. Following the completion of the sale, the director directly owned 6,847 shares in the company, valued at approximately $4,302,380.92. The trade was a 30.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 64,543 shares of company stock worth $39,054,956 in the last quarter. Insiders own 6.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AGX has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price target on Argan from $399.00 to $518.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Argan in a research note on Monday, April 6th. Lake Street Capital boosted their price target on Argan from $325.00 to $375.00 and gave the stock a “hold” rating in a research note on Friday, March 27th. Zacks Research lowered Argan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. raised Argan from a “neutral” rating to an “overweight” rating and set a $550.00 price target on the stock in a research note on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $425.40.

Argan Stock Performance

AGX stock opened at $666.85 on Friday. Argan, Inc. has a 1 year low of $193.82 and a 1 year high of $748.50. The stock’s 50 day moving average price is $614.67 and its 200 day moving average price is $456.76. The firm has a market cap of $9.30 billion, a P/E ratio of 68.46 and a beta of 0.61.

Argan (NYSE:AGX) last posted its earnings results on Thursday, March 26th. The construction company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $1.48. Argan had a return on equity of 33.62% and a net margin of 14.59%.The firm had revenue of $262.05 million for the quarter, compared to analyst estimates of $255.32 million. During the same quarter in the prior year, the company earned $2.22 EPS. Argan’s revenue was up 12.7% on a year-over-year basis. On average, research analysts predict that Argan, Inc. will post 11.44 earnings per share for the current year.

Argan declared that its Board of Directors has authorized a share repurchase program on Wednesday, April 8th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Argan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. Argan’s dividend payout ratio is presently 20.53%.

About Argan

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.