Argan, Inc. (NYSE:AGX) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC reduced its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 9.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 708,256 shares of the construction company's stock after selling 72,560 shares during the quarter. River Road Asset Management LLC owned approximately 5.25% of Argan worth $71,838,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

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

Insider Transactions at Argan

In other news, Director James W. Quinn sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $89.68, for a total value of $896,800.00. Following the completion of the sale, the director now owns 70,422 shares of the company's stock, valued at $6,315,444.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director James W. Quinn sold 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $89.68, for a total value of $896,800.00. Following the completion of the transaction, the director now owns 70,422 shares of the company's stock, valued at approximately $6,315,444.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rainer H. Bosselmann sold 4,598 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $131.01, for a total value of $602,383.98. Following the completion of the transaction, the director now directly owns 236,745 shares of the company's stock, valued at $31,015,962.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,703 shares of company stock valued at $4,257,794 over the last quarter. Company insiders own 11.85% of the company's stock.

Argan Price Performance

AGX stock traded up $5.01 during trading on Tuesday, reaching $141.65. 328,046 shares of the stock traded hands, compared to its average volume of 164,825. The business's 50 day moving average price is $105.70 and its 200-day moving average price is $83.39. Argan, Inc. has a 52-week low of $39.74 and a 52-week high of $143.78. The firm has a market capitalization of $1.91 billion, a PE ratio of 44.54 and a beta of 0.49.

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

Argan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 23rd were given a $0.375 dividend. This is an increase from Argan's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $1.50 annualized dividend and a dividend yield of 1.06%. Argan's dividend payout ratio is presently 47.17%.

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.