Goodlander Investment Management LLC Acquires Shares of 140,000 Argan, Inc. $AGX

Key Points

• Goodlander Investment Management LLC acquired 140,000 shares of Argan, Inc., valued at approximately $18.36 million, making it the firm's 3rd largest position.
• Argan, Inc. recently announced a quarterly dividend of $0.375 per share, resulting in an annualized yield of 0.7% and a payout ratio of 21.04%.
• Following insider transactions, including CEO Charles Edwin Iv Collins selling 5,000 shares, corporate insiders have sold a total of 96,564 shares worth approximately $21 million in the last ninety days.

Goodlander Investment Management LLC acquired a new stake in shares of Argan, Inc. (NYSE:AGX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 140,000 shares of the construction company's stock, valued at approximately $18,364,000. Argan makes up 15.7% of Goodlander Investment Management LLC's portfolio, making the stock its 3rd largest position. Goodlander Investment Management LLC owned about 1.03% of Argan as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Argan by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 926,168 shares of the construction company's stock valued at $121,485,000 after acquiring an additional 82,585 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Argan by 5.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 529,052 shares of the construction company's stock worth $72,502,000 after purchasing an additional 29,062 shares during the period. American Century Companies Inc. raised its stake in shares of Argan by 7.6% during the 1st quarter. American Century Companies Inc. now owns 517,302 shares of the construction company's stock worth $67,855,000 after purchasing an additional 36,644 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Argan during the 4th quarter worth $23,064,000. Finally, Northern Trust Corp raised its stake in shares of Argan by 5.1% during the 4th quarter. Northern Trust Corp now owns 133,494 shares of the construction company's stock worth $18,294,000 after purchasing an additional 6,483 shares during the period. 79.43% of the stock is currently owned by institutional investors.

Argan Stock Down 5.2%

NYSE AGX opened at $229.47 on Friday. The company has a market cap of $3.13 billion, a PE ratio of 32.18 and a beta of 0.59. Argan, Inc. has a 52 week low of $69.81 and a 52 week high of $253.79. The firm's 50-day simple moving average is $221.07 and its two-hundred day simple moving average is $179.89.

Argan (NYSE:AGX - Get Free Report) last released its quarterly earnings data 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 business had revenue of $193.66 million for the quarter, compared to the consensus estimate of $193.75 million. Argan had a net margin of 11.00% and a return on equity of 29.61%. The company's revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share.

Argan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 23rd were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, July 23rd. Argan's payout ratio is presently 21.04%.

Analyst Upgrades and Downgrades

AGX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on Argan in a research note on Monday, July 21st. They set a "neutral" rating and a $220.00 target price on the stock. Lake Street Capital lifted their target price on Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Kepler Capital Markets cut Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Finally, Wall Street Zen cut Argan from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $202.00.

Insider Buying and Selling at Argan

In other Argan news, CEO Charles Edwin Iv Collins sold 5,000 shares of Argan stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $245.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the chief executive officer owned 14,506 shares of the company's stock, valued at $3,553,970. The trade was a 25.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia Flanders sold 15,000 shares of Argan stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $220.47, for a total value 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. The trade was a 30.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,564 shares of company stock worth $21,046,366. 6.69% of the stock is owned by corporate 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.

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