Quantum Portfolio Management LLC Buys 3,847 Shares of Argan, Inc. $AGX

Quantum Portfolio Management LLC raised its stake in Argan, Inc. (NYSE:AGX) by 47.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,931 shares of the construction company’s stock after purchasing an additional 3,847 shares during the period. Argan accounts for approximately 1.0% of Quantum Portfolio Management LLC’s investment portfolio, making the stock its 23rd biggest position. Quantum Portfolio Management LLC’s holdings in Argan were worth $3,222,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Thames Capital Management LLC bought a new position in shares of Argan during the third quarter worth approximately $11,175,000. Moody Aldrich Partners LLC bought a new stake in Argan in the 3rd quarter valued at $3,772,000. Inspire Investing LLC grew its holdings in Argan by 229.3% in the 3rd quarter. Inspire Investing LLC now owns 5,785 shares of the construction company’s stock valued at $1,562,000 after buying an additional 4,028 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in Argan in the 2nd quarter valued at $232,000. Finally, Envestnet Asset Management Inc. bought a new position in Argan during the 2nd quarter worth $418,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AGX. Weiss Ratings reissued a “buy (b+)” rating on shares of Argan in a research report on Wednesday, December 24th. CJS Securities upgraded shares of Argan to a “hold” rating in a research note on Thursday, December 11th. UBS Group set a $315.00 price objective on shares of Argan in a report on Monday, October 13th. Glj Research upgraded shares of Argan from a “hold” rating to a “buy” rating and increased their target price for the stock from $251.00 to $369.00 in a research report on Monday, November 10th. Finally, Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and lifted their price target for the company from $260.00 to $325.00 in a research report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Argan presently has an average rating of “Moderate Buy” and a consensus price target of $355.20.

Argan Stock Up 16.4%

AGX opened at $383.81 on Monday. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 45.21 and a beta of 0.64. Argan, Inc. has a twelve month low of $101.02 and a twelve month high of $399.30. The company has a 50-day simple moving average of $337.31 and a 200 day simple moving average of $279.27.

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

Argan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 22nd will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, January 22nd. This represents a $2.00 annualized dividend and a yield of 0.5%. Argan’s dividend payout ratio is presently 23.56%.

Insiders Place Their Bets

In other news, Director Peter W. Getsinger sold 6,595 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $313.71, for a total transaction of $2,068,917.45. Following the completion of the transaction, the director owned 7,847 shares of the company’s stock, valued at approximately $2,461,682.37. The trade was a 45.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James W. Quinn sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $328.04, for a total value of $328,040.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,171 shares of company stock worth $5,816,642 over the last three months. 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.