Robeco Institutional Asset Management B.V. Buys New Position in Argan, Inc. $AGX

Robeco Institutional Asset Management B.V. bought a new stake in Argan, Inc. (NYSE:AGX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,300 shares of the construction company's stock, valued at approximately $1,610,000. Robeco Institutional Asset Management B.V. owned about 0.05% of Argan at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp increased its stake in shares of Argan by 241.1% during the 2nd quarter. Truist Financial Corp now owns 18,562 shares of the construction company's stock valued at $4,093,000 after acquiring an additional 13,120 shares during the last quarter. Chicago Capital LLC acquired a new position in shares of Argan during the 2nd quarter valued at about $246,000. Spirepoint Private Client LLC acquired a new position in shares of Argan during the 2nd quarter valued at about $262,000. Forte Capital LLC ADV increased its stake in shares of Argan by 0.7% during the 2nd quarter. Forte Capital LLC ADV now owns 46,027 shares of the construction company's stock valued at $10,148,000 after acquiring an additional 323 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Argan during the 2nd quarter valued at about $422,000. Institutional investors and hedge funds own 79.43% of the company's stock.

Argan Stock Up 1.8%

NYSE AGX opened at $268.24 on Wednesday. The stock has a market cap of $3.70 billion, a PE ratio of 32.24 and a beta of 0.64. Argan, Inc. has a fifty-two week low of $101.02 and a fifty-two week high of $283.35. The business has a 50 day moving average price of $239.05 and a two-hundred day moving average price of $202.82.

Argan (NYSE:AGX - Get Free Report) last released its earnings results on Thursday, September 4th. The construction company reported $2.50 EPS for the quarter, beating the consensus estimate of $1.99 by $0.51. The company had revenue of $237.74 million during the quarter, compared to analysts' expectations of $243.97 million. Argan had a return on equity of 32.61% and a net margin of 12.73%.The business's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 EPS.

Argan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Thursday, October 23rd will be paid a dividend of $0.50 per share. This is an increase from Argan's previous quarterly dividend of $0.38. The ex-dividend date is Thursday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 0.7%. Argan's dividend payout ratio (DPR) is currently 18.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Argan from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Argan in a report on Saturday, September 27th. Glj Research began coverage on Argan in a report on Monday, September 22nd. They set a "hold" rating and a $251.00 target price for the company. Lake Street Capital boosted their target price on Argan from $236.00 to $260.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. began coverage on Argan in a report on Monday, July 21st. They set a "neutral" rating and a $220.00 target price for the company. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $220.25.

Insider Activity at Argan

In other news, Director John Ronald Jr. Jeffrey sold 2,621 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $235.63, for a total transaction of $617,586.23. Following the completion of the transaction, the director directly owned 9,254 shares in the company, valued at approximately $2,180,520.02. This represents a 22.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter W. Getsinger sold 2,609 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $239.68, for a total value of $625,325.12. Following the transaction, the director owned 12,896 shares of the company's stock, valued at approximately $3,090,913.28. This trade represents a 16.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,027 shares of company stock worth $18,492,595. 6.69% of the stock is currently owned by insiders.

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.

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