Dynamic Technology Lab Private Ltd Has $585,000 Holdings in Argan, Inc. (NYSE:AGX)

Dynamic Technology Lab Private Ltd decreased its stake in Argan, Inc. (NYSE:AGX) by 29.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,767 shares of the construction company’s stock after selling 2,462 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Argan were worth $585,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AGX. Prime Capital Investment Advisors LLC increased its holdings in shares of Argan by 1.8% during the third quarter. Prime Capital Investment Advisors LLC now owns 4,796 shares of the construction company’s stock worth $486,000 after buying an additional 86 shares in the last quarter. Cardinal Capital Management raised its position in Argan by 1.2% in the second quarter. Cardinal Capital Management now owns 29,062 shares of the construction company’s stock valued at $2,126,000 after purchasing an additional 338 shares during the last quarter. Ellsworth Advisors LLC raised its position in Argan by 3.5% in the second quarter. Ellsworth Advisors LLC now owns 10,862 shares of the construction company’s stock valued at $795,000 after purchasing an additional 369 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Argan during the third quarter valued at about $43,000. Finally, Savant Capital LLC raised its holdings in Argan by 4.4% in the 2nd quarter. Savant Capital LLC now owns 10,285 shares of the construction company’s stock valued at $752,000 after buying an additional 431 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

Argan Price Performance

Argan stock opened at $155.05 on Friday. The stock’s 50 day moving average is $128.87 and its 200 day moving average is $93.69. Argan, Inc. has a one year low of $39.74 and a one year high of $165.33. The firm has a market cap of $2.09 billion, a P/E ratio of 48.76 and a beta of 0.49.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, September 5th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping 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. The business’s revenue for the quarter was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd were issued a dividend of $0.375 per share. 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 0.97%. The ex-dividend date was Wednesday, October 23rd. Argan’s dividend payout ratio (DPR) is presently 47.17%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of 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 William F. Leimkuhler sold 10,000 shares of the firm’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 transaction of $962,000.00. Following the completion of the sale, the director now owns 35,852 shares of the company’s stock, valued at $3,448,962.40. This trade represents a 21.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Rainer H. Bosselmann sold 4,598 shares of Argan stock in a transaction on Thursday, October 17th. The shares were 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 owns 236,745 shares of the company’s stock, valued at $31,015,962.45. This represents a 1.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,703 shares of company stock valued at $4,257,794. Corporate insiders own 11.85% of the company’s stock.

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.