CWA Asset Management Group LLC Takes Position in Argan, Inc. (NYSE:AGX)

CWA Asset Management Group LLC acquired a new stake in shares of Argan, Inc. (NYSE:AGX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 14,360 shares of the construction company’s stock, valued at approximately $1,457,000. CWA Asset Management Group LLC owned approximately 0.11% of Argan as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AGX. American Century Companies Inc. grew its holdings in shares of Argan by 31.8% during the second quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock worth $22,336,000 after purchasing an additional 73,658 shares during the last quarter. Hood River Capital Management LLC acquired a new position in Argan in the 2nd quarter valued at approximately $5,245,000. Sapient Capital LLC bought a new position in shares of Argan during the third quarter valued at $4,783,000. Deprince Race & Zollo Inc. acquired a new position in shares of Argan during the second quarter worth $3,168,000. Finally, Marshall Wace LLP bought a new stake in shares of Argan in the second quarter worth $3,166,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Argan Price Performance

Argan stock opened at $155.29 on Friday. The firm has a market cap of $2.10 billion, a P/E ratio of 48.83 and a beta of 0.49. The stock’s 50 day moving average is $110.40 and its 200 day moving average is $85.22. Argan, Inc. has a one year low of $39.74 and a one year high of $159.70.

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

Argan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd were given a $0.375 dividend. The ex-dividend date was Wednesday, October 23rd. This is a positive change from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 annualized dividend and a dividend yield of 0.97%. Argan’s dividend payout ratio (DPR) is 47.17%.

Insider Activity

In related news, Director William F. Leimkuhler sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $96.20, for a total transaction of $962,000.00. Following the completion of the sale, the director now owns 35,852 shares of the company’s stock, valued at $3,448,962.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director William F. Leimkuhler sold 10,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $96.20, for a total transaction of $962,000.00. Following the transaction, the director now directly owns 35,852 shares of the company’s stock, valued at $3,448,962.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rainer H. Bosselmann sold 4,598 shares of Argan stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $131.01, for a total transaction of $602,383.98. Following the completion of the sale, the director now directly owns 236,745 shares of the company’s stock, valued at approximately $31,015,962.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,703 shares of company stock valued at $4,257,794 in the last ninety days. 11.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.