Inspire Investing LLC Boosts Stock Holdings in Argan, Inc. $AGX

by · The Markets Daily

Inspire Investing LLC increased its stake in Argan, Inc. (NYSE:AGXFree Report) by 229.3% 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 5,785 shares of the construction company’s stock after acquiring an additional 4,028 shares during the period. Inspire Investing LLC’s holdings in Argan were worth $1,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC purchased a new stake in Argan during the 2nd quarter worth about $44,000. IFP Advisors Inc acquired a new position in shares of Argan during the second quarter worth about $71,000. EverSource Wealth Advisors LLC grew its position in shares of Argan by 1,116.7% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the construction company’s stock worth $80,000 after buying an additional 335 shares in the last quarter. State of Tennessee Department of Treasury purchased a new stake in shares of Argan during the second quarter worth approximately $129,000. Finally, Farther Finance Advisors LLC raised its holdings in Argan by 61,600.0% in the third quarter. Farther Finance Advisors LLC now owns 617 shares of the construction company’s stock valued at $167,000 after acquiring an additional 616 shares in the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGX has been the subject of a number of recent research reports. Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and lifted their price target for the stock from $260.00 to $325.00 in a research note on Friday, December 5th. Glj Research raised shares of Argan from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $251.00 to $369.00 in a research report on Monday, November 10th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Argan in a research note on Wednesday. Wall Street Zen raised Argan from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Finally, The Goldman Sachs Group started coverage on Argan in a report on Tuesday, November 11th. They set a “buy” rating and a $397.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $355.20.

View Our Latest Research Report on Argan

Argan Price Performance

Shares of NYSE:AGX opened at $333.25 on Friday. Argan, Inc. has a 12 month low of $101.02 and a 12 month high of $399.30. The firm has a market capitalization of $4.62 billion, a P/E ratio of 39.25 and a beta of 0.60. The company’s fifty day moving average price is $328.09 and its 200 day moving average price is $265.92.

Argan (NYSE:AGXGet Free Report) last released its quarterly earnings data on Thursday, December 4th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.35. The company had revenue of $251.15 million during the quarter, compared to the consensus estimate of $251.50 million. Argan had a net margin of 13.11% and a return on equity of 31.38%. Argan’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 earnings per share.

Argan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 22nd will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, January 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.6%. Argan’s dividend payout ratio is 23.56%.

Insider Activity

In other Argan news, Director William F. Leimkuhler sold 11,802 shares of Argan stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.73, for a total transaction of $3,242,363.46. Following the transaction, the director owned 38,834 shares of the company’s stock, valued at $10,668,864.82. The trade was a 23.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter W. Getsinger sold 6,493 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $294.39, for a total value of $1,911,474.27. Following the completion of the sale, the director owned 9,897 shares of the company’s stock, valued at approximately $2,913,577.83. This represents a 39.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 74,739 shares of company stock worth $21,160,327 over the last ninety days. 6.69% of the stock is owned by corporate insiders.

Argan Company Profile

(Free Report)

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.

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