Argan, Inc. (NYSE:AGX) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its stake in Argan, Inc. (NYSE:AGX) by 64.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,138 shares of the construction company’s stock after selling 18,564 shares during the period. GSA Capital Partners LLP owned approximately 0.08% of Argan worth $1,028,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in Argan by 18.3% in the 1st quarter. BNP Paribas Financial Markets now owns 10,426 shares of the construction company’s stock valued at $527,000 after purchasing an additional 1,611 shares in the last quarter. Vanguard Group Inc. grew its holdings in Argan by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 726,171 shares of the construction company’s stock worth $36,701,000 after acquiring an additional 12,162 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Argan by 2.2% in the 1st quarter. Acadian Asset Management LLC now owns 131,987 shares of the construction company’s stock valued at $6,668,000 after purchasing an additional 2,778 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Argan in the 1st quarter valued at $95,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Argan by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,656 shares of the construction company’s stock worth $286,000 after purchasing an additional 539 shares during the last quarter. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Argan Stock Down 8.5 %

Shares of Argan stock opened at $136.56 on Friday. Argan, Inc. has a 52 week low of $39.74 and a 52 week high of $162.78. The firm’s 50 day moving average is $116.73 and its two-hundred day moving average is $87.59. The firm has a market capitalization of $1.84 billion, a P/E ratio of 42.94 and a beta of 0.49.

Argan (NYSE:AGX) last announced its quarterly earnings results on Thursday, September 5th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $191.05 million. The firm’s quarterly revenue was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd were given a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a boost from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.10%. Argan’s dividend payout ratio is 47.17%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Cynthia Flanders sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $96.39, for a total value of $481,950.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,314,660.50. Following the sale, the director now owns 219,879 shares of the company’s stock, valued at $28,606,257.90. This trade represents a 4.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,703 shares of company stock worth $4,257,794 in the last quarter. 11.85% of the stock is owned by insiders.

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.