UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Argan, Inc. (NYSE:AGX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,570 shares of the construction company's stock after selling 6,406 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of Argan worth $2,999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of AGX. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Argan during the second quarter valued at $41,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Argan during the 3rd quarter valued at about $43,000. Copeland Capital Management LLC purchased a new stake in Argan in the 3rd quarter valued at about $56,000. Point72 DIFC Ltd bought a new position in Argan in the 2nd quarter worth about $70,000. Finally, nVerses Capital LLC purchased a new position in shares of Argan during the third quarter worth approximately $91,000. Institutional investors own 79.43% of the company's stock.

Argan Trading Down 0.9 %

Shares of AGX traded down $1.31 during mid-day trading on Friday, hitting $142.96. The company's stock had a trading volume of 193,773 shares, compared to its average volume of 181,558. The company's 50-day moving average is $139.45 and its 200-day moving average is $100.06. Argan, Inc. has a 52-week low of $43.00 and a 52-week high of $165.33. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 29.91 and a beta of 0.53.

Argan (NYSE:AGX - Get Free Report) last posted its earnings results on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.74. The company had revenue of $257.00 million during the quarter, compared to analyst estimates of $225.60 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business's quarterly revenue was up 56.9% on a year-over-year basis.

Argan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 23rd will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, January 23rd. Argan's payout ratio is currently 31.38%.

Insider Activity at Argan

In other news, Director Cynthia Flanders sold 5,000 shares of the company's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the transaction, the director now directly owns 17,332 shares of the company's stock, valued at approximately $1,670,631.48. This represents a 22.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rainer H. Bosselmann sold 4,598 shares of the firm's stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $131.01, for a total value 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. The trade was a 1.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,703 shares of company stock valued at $3,360,994 over the last quarter. 11.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AGX. Lake Street Capital lowered Argan from a "buy" rating to a "hold" rating and boosted their price target for the company from $85.00 to $150.00 in a report on Tuesday, December 3rd. StockNews.com cut Argan from a "buy" rating to a "hold" rating in a report on Tuesday, October 29th. Finally, CJS Securities reissued a "market perform" rating and set a $150.00 price target on shares of Argan in a research report on Friday, December 6th.

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.