CWA Asset Management Group LLC Makes New $1.46 Million Investment in Argan, Inc. (NYSE:AGX)

CWA Asset Management Group LLC acquired a new stake in Argan, Inc. (NYSE:AGX - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,360 shares of the construction company's stock, valued at approximately $1,457,000. CWA Asset Management Group LLC owned 0.11% of Argan as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Argan in the third quarter valued at approximately $43,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Argan during the 2nd quarter valued at $41,000. Copeland Capital Management LLC purchased a new stake in shares of Argan during the third quarter worth $56,000. nVerses Capital LLC bought a new position in shares of Argan in the third quarter worth $91,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Argan in the second quarter valued at $70,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Argan news, Director William F. Leimkuhler sold 10,000 shares of Argan stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $96.20, for a total transaction of $962,000.00. Following the completion of the sale, the director now directly owns 35,852 shares in the company, valued at $3,448,962.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Argan news, 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 transaction of $962,000.00. Following the sale, the director now owns 35,852 shares in the company, valued at $3,448,962.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rainer H. Bosselmann sold 4,598 shares of Argan stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $131.01, for a total value of $602,383.98. Following the sale, the director now directly owns 236,745 shares of the company's stock, valued at approximately $31,015,962.45. This trade represents a 0.00 % 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 worth $4,257,794. Insiders own 11.85% of the company's stock.

Argan Stock Performance

NYSE AGX traded up $0.26 on Friday, hitting $155.29. The stock had a trading volume of 278,297 shares, compared to its average volume of 372,041. The firm has a 50-day moving average of $110.40 and a 200-day moving average of $85.22. Argan, Inc. has a 52-week low of $39.74 and a 52-week high of $159.70. 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 (NYSE:AGX - Get Free Report) last posted its quarterly earnings data 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 company 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 company's quarterly 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 $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.97%. This is a boost from Argan's previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, October 23rd. Argan's dividend payout ratio is 47.17%.

Wall Street Analyst Weigh In

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

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.