Argan, Inc. (NYSE:AGX) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in Argan, Inc. by 86.2% in Q1, owning 2,756 shares valued at $362,000.
• Insider transactions included Director William F. Leimkuhler selling 7,604 shares for over $1.6 million, and Cynthia Flanders selling 15,000 shares for approximately $3.3 million.
• Argan reported a net margin of 11.00% and a 22.8% increase in revenue year-over-year, with earnings per share of $1.60 beating analyst estimates.

XTX Topco Ltd grew its stake in Argan, Inc. (NYSE:AGX - Free Report) by 86.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,756 shares of the construction company's stock after purchasing an additional 1,276 shares during the period. XTX Topco Ltd's holdings in Argan were worth $362,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Argan by 2,987.5% in the first quarter. Larson Financial Group LLC now owns 247 shares of the construction company's stock valued at $32,000 after buying an additional 239 shares in the last quarter. McIlrath & Eck LLC boosted its stake in shares of Argan by 419.4% in the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock valued at $51,000 after buying an additional 302 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Argan by 1,123.5% in the fourth quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock valued at $57,000 after buying an additional 382 shares in the last quarter. State of Tennessee Department of Treasury purchased a new stake in shares of Argan in the fourth quarter valued at approximately $138,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Argan by 12.7% in the first quarter. Nisa Investment Advisors LLC now owns 1,059 shares of the construction company's stock valued at $139,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company's stock.

Argan Price Performance

AGX traded up $10.66 during trading on Tuesday, reaching $238.74. 241,970 shares of the stock were exchanged, compared to its average volume of 472,388. The business's 50 day moving average price is $219.18 and its two-hundred day moving average price is $172.75. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 33.48 and a beta of 0.59. Argan, Inc. has a 1 year low of $69.51 and a 1 year high of $253.79.

Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings data 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. Argan had a return on equity of 29.61% and a net margin of 11.00%. The business had revenue of $193.66 million for the quarter, compared to the consensus estimate of $193.75 million. During the same period in the prior year, the business earned $0.58 earnings per share. The business's revenue was up 22.8% on a year-over-year basis.

Argan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 23rd were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, July 23rd. Argan's dividend payout ratio is currently 21.04%.

Insiders Place Their Bets

In other news, Director William F. Leimkuhler sold 7,604 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $222.03, for a total value of $1,688,316.12. Following the sale, the director directly owned 50,636 shares in the company, valued at $11,242,711.08. This represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard H. Deily sold 1,604 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $242.77, for a total value of $389,403.08. Following the completion of the sale, the chief financial officer directly owned 7,802 shares in the company, valued at approximately $1,894,091.54. The trade was a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,564 shares of company stock valued at $21,046,366. Insiders own 6.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wall Street Zen downgraded Argan from a "buy" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. initiated coverage on Argan in a research report on Monday, July 21st. They set a "neutral" rating and a $220.00 target price on the stock. Lake Street Capital boosted their target price on Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Finally, Kepler Capital Markets downgraded Argan from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 28th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $202.00.

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.