SG Americas Securities LLC Has $652,000 Position in Argan, Inc. (NYSE:AGX)

SG Americas Securities LLC boosted its holdings in shares of Argan, Inc. (NYSE:AGX - Free Report) by 362.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,969 shares of the construction company's stock after acquiring an additional 3,894 shares during the period. SG Americas Securities LLC's holdings in Argan were worth $652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AGX. City Center Advisors LLC purchased a new stake in shares of Argan during the first quarter worth about $223,000. American Century Companies Inc. grew its holdings in shares of Argan by 18.1% during the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock worth $65,869,000 after buying an additional 73,654 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Argan by 28.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock worth $2,400,000 after buying an additional 3,880 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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. Finally, Intech Investment Management LLC grew its holdings in Argan by 95.7% in the fourth quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock valued at $897,000 after purchasing an additional 3,199 shares during the period. Institutional investors and hedge funds own 79.43% of the company's stock.

Insiders Place Their Bets

In related news, Director James W. Quinn sold 40,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $207.92, for a total value of $8,316,800.00. Following the completion of the transaction, the director now owns 16,557 shares in the company, valued at $3,442,531.44. This represents a 70.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter W. Getsinger sold 2,292 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $150.35, for a total transaction of $344,602.20. Following the completion of the transaction, the director now owns 9,500 shares of the company's stock, valued at $1,428,325. This represents a 19.44% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,585 shares of company stock valued at $15,973,833. Company insiders own 6.69% of the company's stock.

Argan Stock Down 1.7%

Shares of NYSE AGX traded down $3.46 during trading on Friday, reaching $202.76. 877,502 shares of the stock were exchanged, compared to its average volume of 345,586. The business's 50-day moving average price is $184.75 and its 200 day moving average price is $155.75. Argan, Inc. has a twelve month low of $63.53 and a twelve month high of $246.60. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 28.44 and a beta of 0.55.

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. The firm had revenue of $193.66 million for the quarter, compared to analysts' expectations of $193.75 million. Argan had a net margin of 11.00% and a return on equity of 29.61%. The firm's quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share.

Argan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 23rd will be issued a dividend of $0.375 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.74%. Argan's dividend payout ratio (DPR) is 21.04%.

Analyst Upgrades and Downgrades

AGX has been the subject of a number of recent analyst reports. Lake Street Capital boosted their target price on shares of Argan from $150.00 to $236.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Kepler Capital Markets downgraded shares of Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th.

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.