PFG Advisors Purchases 2,006 Shares of Argan, Inc. (NYSE:AGX)

PFG Advisors boosted its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 94.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,132 shares of the construction company's stock after acquiring an additional 2,006 shares during the quarter. PFG Advisors' holdings in Argan were worth $542,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AGX. City Center Advisors LLC acquired a new stake in Argan in the 1st quarter valued at about $223,000. Wealth Enhancement Advisory Services LLC grew its holdings in Argan by 26.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,977 shares of the construction company's stock valued at $522,000 after buying an additional 839 shares during the last quarter. GAMMA Investing LLC increased its position in Argan by 11,180.0% during the first quarter. GAMMA Investing LLC now owns 5,640 shares of the construction company's stock worth $7,400,000 after buying an additional 5,590 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Argan by 362.2% in the first quarter. SG Americas Securities LLC now owns 4,969 shares of the construction company's stock valued at $652,000 after acquiring an additional 3,894 shares in the last quarter. Finally, Thoroughbred Financial Services LLC boosted its stake in shares of Argan by 34.3% during the fourth quarter. Thoroughbred Financial Services LLC now owns 8,411 shares of the construction company's stock valued at $1,152,000 after acquiring an additional 2,150 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company's stock.

Wall Street Analysts Forecast Growth

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

Argan Stock Up 5.5%

Shares of AGX traded up $12.23 during trading on Friday, reaching $236.60. The company's stock had a trading volume of 528,372 shares, compared to its average volume of 409,594. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 33.18 and a beta of 0.54. The company has a fifty day moving average of $210.77 and a two-hundred day moving average of $166.82. Argan, Inc. has a twelve month low of $63.53 and a twelve month high of $246.60.

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

Argan Announces Dividend

The company also recently declared 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. This represents a $1.50 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, July 23rd. Argan's dividend payout ratio is currently 21.04%.

Insider Activity

In related news, Director Rainer H. Bosselmann sold 13,728 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $221.58, for a total transaction of $3,041,850.24. Following the completion of the sale, the director owned 196,723 shares of the company's stock, valued at $43,589,882.34. This represents a 6.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 3,456 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $212.01, for a total transaction of $732,706.56. Following the completion of the transaction, the director directly owned 14,895 shares in the company, valued at $3,157,888.95. This represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,404 shares of company stock valued at $18,221,387 over the last three months. 6.69% of the stock is currently owned by company 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.