24,113 Shares in Argan, Inc. (NYSE:AGX) Bought by D.A. Davidson & CO.

D.A. Davidson & CO. bought a new position in Argan, Inc. (NYSE:AGX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,113 shares of the construction company’s stock, valued at approximately $2,446,000. D.A. Davidson & CO. owned about 0.18% of Argan as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in AGX. Point72 Asia Singapore Pte. Ltd. bought a new stake in Argan during the second quarter valued at about $41,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Argan during the 3rd quarter valued at approximately $43,000. Copeland Capital Management LLC bought a new stake in Argan in the third quarter worth $56,000. Point72 DIFC Ltd purchased a new position in Argan during the second quarter worth $70,000. Finally, nVerses Capital LLC bought a new position in Argan during the third quarter valued at $91,000. 79.43% of the stock is currently owned by institutional investors.

Argan Stock Performance

Shares of AGX stock opened at $155.94 on Friday. The stock has a 50 day moving average price of $130.07 and a 200 day moving average price of $94.30. Argan, Inc. has a 52-week low of $39.74 and a 52-week high of $165.33. The firm has a market capitalization of $2.11 billion, a P/E ratio of 49.04 and a beta of 0.49.

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

Argan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Wednesday, October 23rd. This is an increase from Argan’s previous quarterly dividend of $0.30. Argan’s payout ratio is currently 47.17%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th.

Insider Activity at Argan

In related news, Director Cynthia Flanders sold 5,000 shares of Argan stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $96.39, for a total value of $481,950.00. Following the completion of the sale, the director now directly owns 17,332 shares in the company, valued at $1,670,631.48. The trade was a 22.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William F. Leimkuhler sold 10,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $96.20, for a total transaction of $962,000.00. Following the transaction, the director now owns 35,852 shares in the company, valued at approximately $3,448,962.40. The trade was a 21.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,703 shares of company stock worth $4,257,794. Company insiders own 11.85% of the company’s stock.

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.