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

Quantum Portfolio Management LLC increased its stake in shares of Argan, Inc. (NYSE:AGX) by 47.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,931 shares of the construction company’s stock after acquiring an additional 3,847 shares during the period. Argan comprises about 1.0% of Quantum Portfolio Management LLC’s portfolio, making the stock its 23rd largest position. Quantum Portfolio Management LLC owned about 0.09% of Argan worth $3,222,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC bought a new position in Argan during the 2nd quarter worth about $44,000. Eastern Bank acquired a new position in shares of Argan during the third quarter worth about $55,000. IFP Advisors Inc bought a new position in shares of Argan during the second quarter worth about $71,000. EverSource Wealth Advisors LLC raised its position in Argan by 1,116.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the construction company’s stock valued at $80,000 after buying an additional 335 shares during the last quarter. Finally, HM Payson & Co. raised its position in Argan by 322.2% in the 3rd quarter. HM Payson & Co. now owns 380 shares of the construction company’s stock valued at $103,000 after buying an additional 290 shares during the last quarter. 79.43% of the stock is owned by institutional investors.

Insider Activity at Argan

In other Argan news, Director James W. Quinn sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $328.04, for a total value of $328,040.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William F. Leimkuhler sold 4,212 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $320.53, for a total value of $1,350,072.36. Following the completion of the sale, the director directly owned 60,983 shares of the company’s stock, valued at approximately $19,546,880.99. The trade was a 6.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,171 shares of company stock worth $5,816,642. Insiders own 6.69% of the company’s stock.

Argan Trading Up 16.4%

NYSE AGX opened at $383.81 on Monday. Argan, Inc. has a 12 month low of $101.02 and a 12 month high of $399.30. The stock has a 50 day moving average of $337.31 and a 200-day moving average of $279.27. The company has a market cap of $5.32 billion, a PE ratio of 45.21 and a beta of 0.64.

Argan (NYSE:AGX) last posted its quarterly 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. The firm had revenue of $251.15 million for the quarter, compared to analyst estimates of $251.50 million. Argan had a net margin of 13.11% and a return on equity of 31.38%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.00 earnings per share.

Argan Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Glj Research raised Argan from a “hold” rating to a “buy” rating and upped their price target for the stock from $251.00 to $369.00 in a research report on Monday, November 10th. Weiss Ratings reissued a “buy (b+)” rating on shares of Argan in a research report on Wednesday, December 24th. CJS Securities raised shares of Argan to a “hold” rating in a research report on Thursday, December 11th. Lake Street Capital lowered 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 note on Friday, December 5th. Finally, The Goldman Sachs Group assumed coverage on shares of Argan in a research report on Tuesday, November 11th. They set a “buy” rating and a $397.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Argan presently has an average rating of “Moderate Buy” and an average target price of $355.20.

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.