CWA Asset Management Group LLC Acquires Shares of 14,360 Argan, Inc. (NYSE:AGX)

CWA Asset Management Group LLC bought a new position in shares of Argan, Inc. (NYSE:AGX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,360 shares of the construction company’s stock, valued at approximately $1,457,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AGX. Cardinal Capital Management increased its holdings in Argan by 1.2% during the 2nd quarter. Cardinal Capital Management now owns 29,062 shares of the construction company’s stock worth $2,126,000 after purchasing an additional 338 shares in the last quarter. Ellsworth Advisors LLC grew its holdings in Argan by 3.5% during the second quarter. Ellsworth Advisors LLC now owns 10,862 shares of the construction company’s stock worth $795,000 after buying an additional 369 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Argan in the 3rd quarter valued at $43,000. Savant Capital LLC lifted its stake in Argan by 4.4% during the 2nd quarter. Savant Capital LLC now owns 10,285 shares of the construction company’s stock valued at $752,000 after acquiring an additional 431 shares in the last quarter. Finally, Creative Planning boosted its holdings in Argan by 5.2% during the 3rd quarter. Creative Planning now owns 10,616 shares of the construction company’s stock worth $1,077,000 after acquiring an additional 521 shares during the last quarter. 79.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Argan Trading Up 0.2 %

Shares of AGX opened at $155.29 on Friday. The stock has a 50 day moving average of $110.40 and a 200 day moving average of $85.22. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 48.83 and a beta of 0.49. Argan, Inc. has a 12 month low of $39.74 and a 12 month high of $159.70.

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

Argan Increases Dividend

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

Insider Buying and Selling at Argan

In related news, Director William F. Leimkuhler sold 10,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $96.20, for a total value of $962,000.00. Following the sale, the director now directly owns 35,852 shares in the company, valued at approximately $3,448,962.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director William F. Leimkuhler sold 10,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $96.20, for a total transaction of $962,000.00. Following the sale, the director now owns 35,852 shares of the company’s stock, valued at approximately $3,448,962.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rainer H. Bosselmann sold 4,598 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $131.01, for a total transaction of $602,383.98. Following the completion of the sale, the director now directly owns 236,745 shares in the company, valued at approximately $31,015,962.45. The trade was a 0.00 % decrease in their ownership of the stock. 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. Company insiders own 11.85% of the company’s stock.

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.