Hussman Strategic Advisors Inc. Invests $2.20 Million in Argan, Inc. (NYSE:AGX)

Hussman Strategic Advisors Inc. bought a new position in shares of Argan, Inc. (NYSE:AGX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,800 shares of the construction company's stock, valued at approximately $2,204,000. Hussman Strategic Advisors Inc. owned approximately 0.12% of Argan as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Argan in the 4th quarter worth approximately $8,002,000. Amundi increased its position in shares of Argan by 8.6% in the 4th quarter. Amundi now owns 859 shares of the construction company's stock valued at $118,000 after buying an additional 68 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Argan in the 4th quarter valued at $333,000. Farther Finance Advisors LLC bought a new position in Argan during the 4th quarter worth about $32,000. Finally, Swiss National Bank boosted its stake in shares of Argan by 6.4% during the 4th quarter. Swiss National Bank now owns 26,500 shares of the construction company's stock worth $3,632,000 after buying an additional 1,600 shares during the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William F. Leimkuhler sold 7,604 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $222.03, for a total value of $1,688,316.12. Following the completion of the transaction, the director directly owned 50,636 shares of the company's stock, valued at $11,242,711.08. This trade represents a 13.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cynthia Flanders sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $220.47, for a total transaction of $3,307,050.00. Following the transaction, the director directly owned 33,428 shares of the company's stock, valued at $7,369,871.16. This represents a 30.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,404 shares of company stock valued at $18,221,387 in the last quarter. Company insiders own 6.69% of the company's stock.

Argan Stock Performance

NYSE AGX traded up $3.05 on Friday, hitting $206.89. The stock had a trading volume of 592,893 shares, compared to its average volume of 359,350. Argan, Inc. has a 52-week low of $63.53 and a 52-week high of $246.60. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 29.02 and a beta of 0.54. The firm has a 50-day moving average of $207.94 and a 200-day moving average of $164.98.

Argan (NYSE:AGX - Get Free Report) last released its earnings results on Wednesday, June 4th. The construction company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.09 by $0.51. The company had revenue of $193.66 million for the quarter, compared to analyst estimates of $193.75 million. Argan had a net margin of 11.00% and a return on equity of 29.61%. The firm's quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS.

Argan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 23rd will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.73%. Argan's dividend payout ratio is 21.04%.

Wall Street Analysts Forecast Growth

AGX has been the topic of several recent research reports. Lake Street Capital raised their target price on shares of Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Kepler Capital Markets cut shares of Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th.

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.