Hel Ved Capital Management Ltd Invests $4.61 Million in Argan, Inc. $AGX

Hel Ved Capital Management Ltd bought a new position in Argan, Inc. (NYSE:AGX) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 17,055 shares of the construction company’s stock, valued at approximately $4,606,000. Argan comprises about 1.0% of Hel Ved Capital Management Ltd’s holdings, making the stock its 24th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in Argan during the third quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new position in shares of Argan in the 3rd quarter valued at $32,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Argan during the 2nd quarter valued at $44,000. Eastern Bank acquired a new stake in shares of Argan during the 3rd quarter worth $55,000. Finally, Federated Hermes Inc. raised its position in shares of Argan by 22.0% in the 3rd quarter. Federated Hermes Inc. now owns 255 shares of the construction company’s stock worth $69,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 79.43% of the company’s stock.

Argan Price Performance

Shares of AGX opened at $413.14 on Friday. Argan, Inc. has a 12 month low of $101.02 and a 12 month high of $469.88. The stock has a market cap of $5.73 billion, a PE ratio of 48.66 and a beta of 0.57. The stock’s 50-day moving average is $377.29 and its two-hundred day moving average is $321.64.

Argan (NYSE:AGX) last announced 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. The business had revenue of $251.15 million for the quarter, compared to the consensus estimate of $251.50 million. Argan had a return on equity of 31.38% and a net margin of 13.11%.The company’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the business posted $2.00 EPS.

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Thursday, January 22nd were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, January 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.5%. Argan’s dividend payout ratio (DPR) is currently 23.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. CJS Securities raised Argan to a “hold” rating in a research report on Thursday, December 11th. Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and boosted their target price for the stock from $260.00 to $325.00 in a report on Friday, December 5th. Glj Research raised 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. The Goldman Sachs Group assumed coverage on shares of Argan in a report on Tuesday, November 11th. They issued a “buy” rating and a $397.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Argan in a research report on Wednesday, December 24th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Argan has a consensus rating of “Hold” and a consensus target price of $355.20.

Insider Buying and Selling at Argan

In other news, Director Peter W. Getsinger sold 6,595 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $313.71, for a total value of $2,068,917.45. Following the completion of the transaction, the director directly owned 7,847 shares in the company, valued at approximately $2,461,682.37. This represents a 45.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cynthia Flanders sold 19,000 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $386.70, for a total transaction of $7,347,300.00. Following the sale, the director directly owned 26,207 shares of the company’s stock, valued at approximately $10,134,246.90. The trade was a 42.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 55,915 shares of company stock valued at $20,182,794. 6.69% of the stock is owned by company insiders.

Argan 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.