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

SG Americas Securities LLC lifted its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 362.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,969 shares of the construction company's stock after purchasing 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.

Several other hedge funds also recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new stake in Argan during the fourth quarter worth approximately $32,000. Global Retirement Partners LLC acquired a new stake in shares of Argan during the 4th quarter valued at $35,000. McIlrath & Eck LLC boosted its stake 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 acquiring an additional 302 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Argan during the 4th quarter worth $57,000. Finally, Federated Hermes Inc. grew its holdings in shares of Argan by 1,123.5% in the 4th quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock worth $57,000 after acquiring an additional 382 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company's stock.

Insider Activity

In other Argan news, Director James W. Quinn sold 40,000 shares of the stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter W. Getsinger sold 5,000 shares of Argan stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total transaction of $725,150.00. Following the sale, the director now directly owns 11,496 shares of the company's stock, valued at $1,667,264.88. This trade represents a 30.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,585 shares of company stock worth $15,973,833 in the last 90 days. Company insiders own 6.69% of the company's stock.

Argan Price Performance

Argan stock traded down $5.86 during midday trading on Wednesday, reaching $208.77. The stock had a trading volume of 299,286 shares, compared to its average volume of 347,020. Argan, Inc. has a twelve month low of $63.53 and a twelve month high of $246.60. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 29.28 and a beta of 0.55. The firm's fifty day simple moving average is $187.35 and its two-hundred day simple moving average is $156.58.

Argan (NYSE:AGX - Get Free Report) last issued its earnings results on Wednesday, June 4th. The construction company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.09 by $0.51. The business had revenue of $193.66 million during 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%. Argan's revenue was up 22.8% compared to the same quarter last year. During the same quarter last year, the firm 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 paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $1.50 annualized dividend and a yield of 0.72%. Argan's dividend payout ratio (DPR) is presently 21.04%.

Analyst Upgrades and Downgrades

AGX has been the subject of several analyst reports. Lake Street Capital upped their target price on 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 Argan from a "strong-buy" rating to a "hold" rating in a report 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.