2,262 Shares in Argan, Inc. (NYSE:AGX) Purchased by Ring Mountain Capital LLC

Ring Mountain Capital LLC bought a new position in Argan, Inc. (NYSE:AGX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,262 shares of the construction company's stock, valued at approximately $297,000.

A number of other institutional investors have also recently made changes to their positions in AGX. Amundi grew its holdings in shares of Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company's stock valued at $118,000 after purchasing an additional 68 shares during the last quarter. Cardinal Capital Management increased its stake in Argan by 0.4% during the 1st quarter. Cardinal Capital Management now owns 31,086 shares of the construction company's stock valued at $4,078,000 after purchasing an additional 111 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Argan by 12.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,059 shares of the construction company's stock valued at $139,000 after purchasing an additional 119 shares in the last quarter. Cerity Partners LLC increased its stake in Argan by 3.7% during the 4th quarter. Cerity Partners LLC now owns 4,042 shares of the construction company's stock valued at $545,000 after purchasing an additional 144 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in Argan by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company's stock valued at $3,668,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 79.43% of the company's stock.

Insiders Place Their Bets

In other Argan news, Director William F. Leimkuhler sold 7,604 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $222.03, for a total value of $1,688,316.12. Following the transaction, the director directly owned 50,636 shares of the company's stock, valued at $11,242,711.08. This represents a 13.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter W. Getsinger sold 3,456 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $212.01, for a total value of $732,706.56. Following the sale, the director directly owned 14,895 shares in the company, valued at approximately $3,157,888.95. This represents a 18.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,404 shares of company stock valued at $18,221,387. Company insiders own 6.69% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Lake Street Capital boosted their target price on shares of Argan from $150.00 to $236.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. JPMorgan Chase & Co. began coverage on shares of Argan in a research note on Monday. They set a "neutral" rating and a $220.00 price target on the stock. Finally, Kepler Capital Markets cut shares of Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $202.00.

Argan Price Performance

Shares of AGX stock traded up $0.57 during mid-day trading on Monday, hitting $207.20. 387,243 shares of the stock traded hands, compared to its average volume of 360,457. Argan, Inc. has a 52-week low of $63.53 and a 52-week high of $246.60. The stock has a market cap of $2.83 billion, a P/E ratio of 29.06 and a beta of 0.54. The stock's fifty day moving average is $208.67 and its two-hundred day moving average is $165.74.

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

Argan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 23rd will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Wednesday, July 23rd. Argan's dividend payout ratio is currently 21.04%.

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.