Stratos Wealth Partners LTD. Sells 3,718 Shares of Argan, Inc. (NYSE:AGX)

Stratos Wealth Partners LTD. lessened its position in Argan, Inc. (NYSE:AGX - Free Report) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,303 shares of the construction company's stock after selling 3,718 shares during the period. Stratos Wealth Partners LTD. owned approximately 0.10% of Argan worth $1,745,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new stake in Argan in the fourth quarter valued at approximately $32,000. McIlrath & Eck LLC increased its position in shares of Argan by 419.4% during the fourth 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 fourth quarter worth $57,000. Federated Hermes Inc. increased its position in shares of Argan by 1,123.5% during the fourth quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock worth $57,000 after acquiring an additional 382 shares in the last quarter. Finally, Amundi increased its position in shares of Argan by 8.6% during the fourth quarter. Amundi now owns 859 shares of the construction company's stock worth $118,000 after acquiring an additional 68 shares in the last quarter. Institutional investors own 79.43% of the company's stock.

Wall Street Analysts Forecast Growth

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

Argan Stock Up 1.9%

AGX traded up $3.94 during trading hours on Friday, hitting $212.40. 461,542 shares of the company's stock were exchanged, compared to its average volume of 354,801. Argan, Inc. has a 1-year low of $63.53 and a 1-year high of $246.60. The stock's 50-day moving average is $203.45 and its two-hundred day moving average is $162.50. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 29.79 and a beta of 0.54.

Argan (NYSE:AGX - Get Free Report) last announced 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. Argan had a net margin of 11.00% and a return on equity of 29.61%. The business had revenue of $193.66 million during the quarter, compared to analysts' expectations of $193.75 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The firm's revenue was up 22.8% on a year-over-year basis.

Argan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 23rd will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, July 23rd. Argan's payout ratio is 21.04%.

Insider Buying and Selling at Argan

In related news, Director James W. Quinn sold 40,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $207.92, for a total transaction of $8,316,800.00. Following the completion of the transaction, the director owned 16,557 shares in the company, valued at approximately $3,442,531.44. This represents a 70.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William F. Leimkuhler sold 7,604 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $222.03, for a total transaction of $1,688,316.12. Following the completion of the sale, the director owned 50,636 shares of the company's stock, valued at approximately $11,242,711.08. This represents a 13.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,696 shares of company stock valued at $19,291,140 in the last three months. 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.