Saturna Capital Corp Has $332,000 Position in Argan, Inc. (NYSE:AGX)

Saturna Capital Corp cut its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 35.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,532 shares of the construction company's stock after selling 1,362 shares during the quarter. Saturna Capital Corp's holdings in Argan were worth $332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new stake in Argan during the 4th quarter worth about $32,000. Larson Financial Group LLC grew its position in shares of Argan by 2,987.5% during the 1st quarter. Larson Financial Group LLC now owns 247 shares of the construction company's stock worth $32,000 after buying an additional 239 shares during the period. McIlrath & Eck LLC grew its position in shares of Argan by 419.4% during the 4th quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock worth $51,000 after buying an additional 302 shares during the period. Federated Hermes Inc. grew its position in shares of Argan by 1,123.5% during the 4th quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock worth $57,000 after buying an additional 382 shares during the period. Finally, Amundi grew its position in shares of Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company's stock worth $118,000 after buying an additional 68 shares during the period. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Argan Trading Up 0.3%

Shares of NYSE:AGX traded up $0.57 during trading on Monday, hitting $207.20. 387,243 shares of the company's stock traded hands, compared to its average volume of 360,457. Argan, Inc. has a 52 week low of $63.53 and a 52 week high of $246.60. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 29.06 and a beta of 0.54. The company has a 50-day moving average price of $208.67 and a 200-day moving average price of $165.74.

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 return on equity of 29.61% and a net margin of 11.00%. The business's quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS.

Argan Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Argan

In other Argan news, Director Rainer H. Bosselmann sold 13,728 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $221.58, for a total value of $3,041,850.24. Following the sale, the director owned 196,723 shares in the company, valued at approximately $43,589,882.34. The trade was a 6.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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. In the last three months, insiders have sold 85,404 shares of company stock worth $18,221,387. Corporate insiders own 6.69% of the company's stock.

Argan 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.