3,344 Shares in Argan, Inc. (NYSE:AGX) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in shares of Argan, Inc. (NYSE:AGX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,344 shares of the construction company's stock, valued at approximately $339,000.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Argan by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 726,171 shares of the construction company's stock valued at $36,701,000 after purchasing an additional 12,162 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Argan by 7.7% in the second quarter. Renaissance Technologies LLC now owns 537,296 shares of the construction company's stock worth $39,309,000 after acquiring an additional 38,300 shares during the period. American Century Companies Inc. increased its stake in shares of Argan by 31.8% in the second quarter. American Century Companies Inc. now owns 305,298 shares of the construction company's stock worth $22,336,000 after acquiring an additional 73,658 shares during the period. Acadian Asset Management LLC increased its stake in shares of Argan by 32.8% in the second quarter. Acadian Asset Management LLC now owns 175,245 shares of the construction company's stock worth $12,811,000 after acquiring an additional 43,258 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Argan by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,224 shares of the construction company's stock worth $11,586,000 after acquiring an additional 47,881 shares during the period. Institutional investors and hedge funds own 79.43% of the company's stock.

Argan Stock Performance

NYSE AGX traded down $0.93 during mid-day trading on Wednesday, reaching $148.98. 302,112 shares of the stock were exchanged, compared to its average volume of 175,145. The business's 50 day moving average is $132.36 and its 200-day moving average is $95.90. Argan, Inc. has a 1 year low of $39.74 and a 1 year high of $165.33. The company has a market capitalization of $2.01 billion, a P/E ratio of 47.14 and a beta of 0.53.

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

Argan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd were paid a $0.375 dividend. This is an increase from Argan's previous quarterly dividend of $0.30. This represents a $1.50 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Wednesday, October 23rd. Argan's dividend payout ratio (DPR) is currently 47.17%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AGX. Lake Street Capital lowered shares of Argan from a "buy" rating to a "hold" rating and increased their price objective for the stock from $85.00 to $150.00 in a research note on Tuesday. StockNews.com lowered shares of Argan from a "buy" rating to a "hold" rating in a research note on Tuesday, October 29th.

Insider Transactions at Argan

In other Argan news, Director Cynthia Flanders sold 5,000 shares of Argan stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the sale, the director now directly owns 17,332 shares in the company, valued at $1,670,631.48. This trade represents a 22.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rainer H. Bosselmann sold 10,105 shares of Argan stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $130.10, for a total transaction of $1,314,660.50. Following the completion of the transaction, the director now owns 219,879 shares of the company's stock, valued at $28,606,257.90. This trade represents a 4.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,703 shares of company stock valued at $4,257,794. Corporate insiders own 11.85% of the company's stock.

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.