Argan, Inc. $AGX Shares Bought by Truvestments Capital LLC

Key Points

• Truvestments Capital LLC dramatically increased its stake in Argan, Inc. by 1,118.6% in the first quarter, bringing its total holdings to 5,057 shares worth approximately $663,000.
• Insiders sold a total of 96,564 shares worth over $21 million in the last quarter, representing a significant decline in their ownership.
• Argan recently reported earnings of $1.60 per share, exceeding estimates, and announced a quarterly dividend of $0.375 per share, reflecting a 0.7% dividend yield.

Truvestments Capital LLC lifted its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 1,118.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,057 shares of the construction company's stock after buying an additional 4,642 shares during the quarter. Truvestments Capital LLC's holdings in Argan were worth $663,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AGX. NewEdge Advisors LLC lifted its position in shares of Argan by 1,567.8% in the 4th quarter. NewEdge Advisors LLC now owns 2,435 shares of the construction company's stock worth $334,000 after buying an additional 2,289 shares during the last quarter. First Trust Advisors LP bought a new stake in Argan in the 4th quarter valued at about $4,195,000. MetLife Investment Management LLC lifted its position in Argan by 7.1% in the 4th quarter. MetLife Investment Management LLC now owns 7,581 shares of the construction company's stock valued at $1,039,000 after purchasing an additional 503 shares during the last quarter. MML Investors Services LLC bought a new stake in Argan in the 4th quarter valued at about $1,150,000. Finally, State of Tennessee Department of Treasury bought a new stake in Argan in the 4th quarter valued at about $138,000. 79.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Lake Street Capital lifted their price objective 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. assumed coverage on shares of Argan in a research report on Monday, July 21st. They issued a "neutral" rating and a $220.00 price objective on the stock. Kepler Capital Markets downgraded shares of Argan from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 28th. Finally, Wall Street Zen downgraded shares of Argan from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Argan has a consensus rating of "Hold" and a consensus price target of $202.00.

Argan Stock Down 3.8%

Argan stock traded down $8.57 during trading hours on Tuesday, hitting $219.65. 141,545 shares of the company traded hands, compared to its average volume of 424,760. The firm has a market cap of $3.00 billion, a P/E ratio of 30.80 and a beta of 0.62. The firm's 50-day simple moving average is $221.50 and its two-hundred day simple moving average is $180.89. Argan, Inc. has a 1-year low of $69.81 and a 1-year high of $253.79.

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 firm had revenue of $193.66 million for the quarter, compared to analysts' expectations of $193.75 million. Argan had a net margin of 11.00% and a return on equity of 29.61%. Argan's quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter last year, the company earned $0.58 EPS.

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 23rd were paid a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $1.50 annualized dividend and a dividend yield of 0.7%. Argan's payout ratio is currently 21.04%.

Insider Buying and Selling

In other news, Director Rainer H. Bosselmann sold 13,728 shares of Argan stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $221.58, for a total value of $3,041,850.24. Following the transaction, the director owned 196,723 shares of the company's stock, valued at $43,589,882.34. The trade was a 6.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Cynthia Flanders sold 15,000 shares of Argan 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 completion of the transaction, the director directly owned 33,428 shares in the company, valued at $7,369,871.16. This represents a 30.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,564 shares of company stock worth $21,046,366. 6.69% of the stock is owned by insiders.

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.