GSA Capital Partners LLP Sells 18,564 Shares of Argan, Inc. (NYSE:AGX)

GSA Capital Partners LLP reduced its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 64.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,138 shares of the construction company's stock after selling 18,564 shares during the quarter. GSA Capital Partners LLP owned 0.08% of Argan worth $1,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cardinal Capital Management raised its holdings in shares of Argan by 1.2% in 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 raised its holdings in shares of Argan by 3.5% during the second quarter. Ellsworth Advisors LLC now owns 10,862 shares of the construction company's stock valued at $795,000 after acquiring an additional 369 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Argan during the third quarter valued at approximately $43,000. Savant Capital LLC raised its holdings in shares of Argan by 4.4% during the second 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 during the period. Finally, Creative Planning raised its holdings in shares of Argan by 5.2% during the third quarter. Creative Planning now owns 10,616 shares of the construction company's stock valued at $1,077,000 after acquiring an additional 521 shares during the period. 79.43% of the stock is currently owned by institutional investors.

Argan Price Performance

AGX traded down $12.60 on Friday, reaching $136.63. 713,966 shares of the company traded hands, compared to its average volume of 170,819. The stock's 50 day moving average price is $117.66 and its 200-day moving average price is $88.10. Argan, Inc. has a 52-week low of $39.74 and a 52-week high of $162.78. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 42.97 and a beta of 0.49.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 EPS for the quarter, beating 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 firm had revenue of $227.02 million for the quarter, compared to the consensus estimate of $191.05 million. Argan's revenue was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.10%. Argan's payout ratio is presently 47.17%.

Analyst Ratings Changes

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

Insider Activity at Argan

In other Argan news, Director William F. Leimkuhler sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $96.20, for a total value of $962,000.00. Following the completion of the sale, the director now directly owns 35,852 shares of the company's stock, valued at $3,448,962.40. The trade was a 21.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rainer H. Bosselmann sold 4,598 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $31,015,962.45. This represents a 1.91 % decrease in their ownership of the stock. 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.

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.