Los Angeles Capital Management LLC Has $3.51 Million Holdings in Argan, Inc. (NYSE:AGX)

Los Angeles Capital Management LLC raised its holdings in Argan, Inc. (NYSE:AGX) by 357.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,639 shares of the construction company’s stock after acquiring an additional 27,064 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Argan were worth $3,513,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. increased its stake in shares of Argan by 31.8% in the 2nd quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock valued at $22,336,000 after acquiring an additional 73,658 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of Argan during the second quarter worth $5,245,000. Sapient Capital LLC acquired a new position in shares of Argan in the 3rd quarter valued at $4,783,000. Deprince Race & Zollo Inc. bought a new stake in shares of Argan in the 2nd quarter valued at $3,168,000. Finally, Marshall Wace LLP acquired a new stake in Argan during the 2nd quarter worth $3,166,000. 79.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Argan

In other news, Director James W. Quinn sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $89.68, for a total transaction of $896,800.00. Following the sale, the director now owns 70,422 shares in the company, valued at $6,315,444.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director James W. Quinn sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $89.68, for a total value of $896,800.00. Following the completion of the sale, the director now directly owns 70,422 shares in the company, valued at approximately $6,315,444.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Cynthia Flanders sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $96.39, for a total value of $481,950.00. Following the transaction, the director now directly owns 17,332 shares in the company, valued at approximately $1,670,631.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,703 shares of company stock valued at $4,257,794. Insiders own 11.85% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Argan from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th.

Argan Price Performance

AGX stock opened at $154.14 on Wednesday. The business has a 50-day moving average of $111.96 and a 200-day moving average of $86.06. Argan, Inc. has a fifty-two week low of $39.74 and a fifty-two week high of $162.78. The stock has a market capitalization of $2.08 billion, a P/E ratio of 49.77 and a beta of 0.49.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.34. Argan had a net margin of 6.11% and a return on equity of 14.80%. The business had revenue of $227.02 million for the quarter, compared to analyst estimates of $191.05 million. The business’s quarterly revenue was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.97%. The ex-dividend date was Wednesday, October 23rd. This is a positive change from Argan’s previous quarterly dividend of $0.30. Argan’s dividend payout ratio is presently 47.17%.

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.