Prime Capital Investment Advisors LLC Purchases 86 Shares of Argan, Inc. (NYSE:AGX)

Prime Capital Investment Advisors LLC boosted its position in shares of Argan, Inc. (NYSE:AGX) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,796 shares of the construction company’s stock after purchasing an additional 86 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Argan were worth $486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AGX. BNP Paribas Financial Markets grew its position in shares of Argan by 18.3% during the 1st quarter. BNP Paribas Financial Markets now owns 10,426 shares of the construction company’s stock worth $527,000 after buying an additional 1,611 shares during the period. Vanguard Group Inc. grew its holdings in Argan by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 726,171 shares of the construction company’s stock worth $36,701,000 after acquiring an additional 12,162 shares during the period. Acadian Asset Management LLC raised its position in shares of Argan by 2.2% during the 1st quarter. Acadian Asset Management LLC now owns 131,987 shares of the construction company’s stock valued at $6,668,000 after acquiring an additional 2,778 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Argan in the 1st quarter valued at $95,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Argan by 10.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,656 shares of the construction company’s stock worth $286,000 after purchasing an additional 539 shares during the last quarter. 79.43% of the stock is owned by institutional investors.

Argan Price Performance

Shares of AGX stock opened at $136.56 on Friday. The stock has a market cap of $1.84 billion, a PE ratio of 42.94 and a beta of 0.49. The stock has a 50-day moving average of $116.73 and a 200-day moving average of $87.59. Argan, Inc. has a one year low of $39.74 and a one year high of $162.78.

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

Argan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd were issued a dividend of $0.375 per share. The ex-dividend date of this dividend 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 yield of 1.10%. Argan’s payout ratio is currently 47.17%.

Analyst Ratings Changes

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

Insider Buying and Selling at Argan

In related news, Director Cynthia Flanders sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the completion of the transaction, the director now directly owns 17,332 shares of the company’s stock, valued at approximately $1,670,631.48. This represents a 22.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rainer H. Bosselmann sold 4,598 shares of Argan stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $131.01, for a total value of $602,383.98. Following the completion of the sale, the director now directly owns 236,745 shares in the company, valued at $31,015,962.45. This represents a 1.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,703 shares of company stock valued at $4,257,794. Company insiders own 11.85% of the company’s stock.

Argan Company 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.