Argan, Inc. (NYSE:AGX) Stock Position Cut by Seizert Capital Partners LLC

Seizert Capital Partners LLC decreased its holdings in shares of Argan, Inc. (NYSE:AGX) by 20.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,162 shares of the construction company’s stock after selling 1,094 shares during the period. Seizert Capital Partners LLC’s holdings in Argan were worth $422,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Argan during the 2nd 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 about $43,000. Copeland Capital Management LLC bought a new position in shares of Argan during the 3rd quarter valued at about $56,000. Point72 DIFC Ltd bought a new position in shares of Argan during the 2nd quarter valued at about $70,000. Finally, nVerses Capital LLC purchased a new stake in Argan during the third quarter valued at about $91,000. Institutional investors own 79.43% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Argan Trading Down 8.4 %

Shares of AGX stock opened at $136.63 on Monday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 42.97 and a beta of 0.49. Argan, Inc. has a 1-year low of $39.74 and a 1-year high of $162.78. The stock’s fifty day simple moving average is $117.66 and its 200-day simple moving average is $88.30.

Argan (NYSE:AGX) last released its earnings results on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.34. The company had revenue of $227.02 million for the quarter, compared to analysts’ expectations of $191.05 million. Argan had a return on equity of 14.80% and a net margin of 6.11%. The business’s revenue for the quarter was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.10%. The ex-dividend date was Wednesday, October 23rd. This is a positive change from Argan’s previous quarterly dividend of $0.30. Argan’s dividend payout ratio is currently 47.17%.

Insiders Place Their Bets

In other 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 transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rainer H. Bosselmann sold 10,105 shares of Argan stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $130.10, for a total value of $1,314,660.50. Following the sale, the director now owns 219,879 shares of the company’s stock, valued at approximately $28,606,257.90. This represents a 4.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,703 shares of company stock worth $4,257,794 in the last quarter. 11.85% of the stock is currently owned by corporate insiders.

Argan 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.