Calamos Advisors LLC Has $2.19 Million Position in Argan, Inc. (NYSE:AGX)

Calamos Advisors LLC trimmed its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 24.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,679 shares of the construction company's stock after selling 5,364 shares during the quarter. Calamos Advisors LLC owned 0.12% of Argan worth $2,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AGX. Principal Financial Group Inc. raised its stake in shares of Argan by 1.2% in the first quarter. Principal Financial Group Inc. now owns 15,756 shares of the construction company's stock valued at $2,067,000 after purchasing an additional 190 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of Argan by 17.0% in the first quarter. WCM Investment Management LLC now owns 69,394 shares of the construction company's stock valued at $9,585,000 after buying an additional 10,074 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Argan by 273.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 68,628 shares of the construction company's stock valued at $9,226,000 after acquiring an additional 50,230 shares during the last quarter. Cardinal Capital Management boosted its holdings in Argan by 0.4% in the first quarter. Cardinal Capital Management now owns 31,086 shares of the construction company's stock valued at $4,078,000 after acquiring an additional 111 shares during the last quarter. Finally, Tcfg Wealth Management LLC bought a new position in Argan in the first quarter valued at about $415,000. 79.43% of the stock is owned by institutional investors.

Argan Stock Performance

Argan stock traded down $1.71 during midday trading on Monday, reaching $209.38. The stock had a trading volume of 45,630 shares, compared to its average volume of 351,301. The firm's fifty day simple moving average is $198.29 and its 200-day simple moving average is $160.46. Argan, Inc. has a 1-year low of $63.53 and a 1-year high of $246.60. The stock has a market capitalization of $2.86 billion, a P/E ratio of 29.36 and a beta of 0.54.

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

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 23rd will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Wednesday, July 23rd. Argan's dividend payout ratio (DPR) is 21.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Kepler Capital Markets cut Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. Lake Street Capital lifted their target price on Argan from $150.00 to $236.00 and gave the company a "buy" rating in a research report on Thursday, June 5th.

Insider Activity

In other Argan news, Director Peter W. Getsinger sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total transaction of $725,150.00. Following the transaction, the director owned 11,496 shares of the company's stock, valued at $1,667,264.88. The trade was a 30.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James W. Quinn sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $207.92, for a total value of $8,316,800.00. Following the transaction, the director directly owned 16,557 shares in the company, valued at $3,442,531.44. This trade represents a 70.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,696 shares of company stock worth $19,291,140. Corporate insiders own 6.69% of the company's stock.

About Argan

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.