3,894 Shares in Argan, Inc. (NYSE:AGX) Bought by Saturna Capital Corp

Saturna Capital Corp purchased a new stake in Argan, Inc. (NYSE:AGX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,894 shares of the construction company's stock, valued at approximately $395,000.

A number of other hedge funds have also bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in Argan in the 3rd quarter valued at about $43,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Argan in the second quarter valued at approximately $41,000. Copeland Capital Management LLC acquired a new stake in shares of Argan in the 3rd quarter valued at $56,000. nVerses Capital LLC bought a new position in shares of Argan in the 3rd quarter valued at $91,000. Finally, Point72 DIFC Ltd bought a new position in shares of Argan in the 2nd quarter valued at $70,000. 79.43% of the stock is owned by institutional investors.

Argan Price Performance

AGX stock traded down $3.48 during trading on Wednesday, reaching $150.66. 219,567 shares of the company were exchanged, compared to its average volume of 168,387. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 47.42 and a beta of 0.49. The company has a 50-day moving average of $113.59 and a two-hundred day moving average of $86.71. Argan, Inc. has a twelve month low of $39.74 and a twelve month high of $162.78.

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

Argan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd were given a dividend of $0.375 per share. The ex-dividend date was Wednesday, October 23rd. This is an increase from Argan's previous quarterly dividend of $0.30. This represents a $1.50 annualized dividend and a yield of 1.00%. Argan's dividend payout ratio (DPR) is currently 47.17%.

Insiders Place Their Bets

In other news, Director Rainer H. Bosselmann sold 10,105 shares of the firm's stock in a transaction 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 approximately $28,606,257.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Rainer H. Bosselmann sold 10,105 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $130.10, for a total value of $1,314,660.50. Following the completion of the sale, the director now owns 219,879 shares of the company's stock, valued at approximately $28,606,257.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William F. Leimkuhler sold 10,000 shares of the firm'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 transaction, the director now owns 35,852 shares of the company's stock, valued at $3,448,962.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,703 shares of company stock valued at $4,257,794 in the last ninety days. 11.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com lowered Argan from a "buy" rating to a "hold" rating in a research note on Tuesday, October 29th.

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.