7,617 Shares in Argan, Inc. (NYSE:AGX) Bought by Summit Global Investments

Summit Global Investments bought a new position in shares of Argan, Inc. (NYSE:AGX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,617 shares of the construction company’s stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AGX. Cardinal Capital Management increased its position in Argan by 1.0% in the 4th quarter. Cardinal Capital Management now owns 22,904 shares of the construction company’s stock worth $1,072,000 after buying an additional 237 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Argan by 3.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 8,904 shares of the construction company’s stock worth $417,000 after acquiring an additional 282 shares during the period. Watershed Asset Management L.L.C. lifted its position in Argan by 7.5% in the fourth quarter. Watershed Asset Management L.L.C. now owns 6,321 shares of the construction company’s stock worth $296,000 after purchasing an additional 441 shares during the period. SG Americas Securities LLC increased its holdings in Argan by 18.8% in the 4th quarter. SG Americas Securities LLC now owns 6,918 shares of the construction company’s stock valued at $324,000 after buying an additional 1,093 shares during the period. Finally, New York State Teachers Retirement System bought a new position in shares of Argan during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Insider Buying and Selling at Argan

In other Argan news, CFO Richard H. Deily sold 6,256 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $61.15, for a total transaction of $382,554.40. Following the completion of the sale, the chief financial officer now owns 8,185 shares in the company, valued at approximately $500,512.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Richard H. Deily sold 6,256 shares of Argan stock in a transaction on Friday, April 19th. The stock was sold at an average price of $61.15, for a total transaction of $382,554.40. Following the completion of the sale, the chief financial officer now directly owns 8,185 shares of the company’s stock, valued at $500,512.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mano S. Koilpillai sold 2,700 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $61.79, for a total transaction of $166,833.00. Following the completion of the sale, the director now owns 7,608 shares in the company, valued at $470,098.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,606 shares of company stock valued at $2,394,182. 11.85% of the stock is currently owned by insiders.

Argan Stock Down 0.3 %

Argan stock opened at $60.84 on Monday. The stock has a 50-day simple moving average of $52.97 and a 200 day simple moving average of $48.20. The stock has a market capitalization of $805.52 million, a price-to-earnings ratio of 25.46 and a beta of 0.43. Argan, Inc. has a 12-month low of $37.37 and a 12-month high of $62.69.

Argan (NYSE:AGX) last released its earnings results on Thursday, April 11th. The construction company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.75 by $0.14. The company had revenue of $164.55 million during the quarter, compared to analysts’ expectations of $162.05 million. Argan had a return on equity of 11.37% and a net margin of 5.64%. The business’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same period last year, the firm earned ($0.46) EPS.

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 22nd were issued a $0.30 dividend. The ex-dividend date was Friday, April 19th. This represents a $1.20 annualized dividend and a yield of 1.97%. Argan’s dividend payout ratio is currently 50.21%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AGX. StockNews.com raised shares of Argan from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 15th. Lake Street Capital increased their target price on Argan from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, April 12th.

About Argan

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.