Prime Capital Investment Advisors LLC Purchases 86 Shares of Argan, Inc. (NYSE:AGX)

Prime Capital Investment Advisors LLC increased its position in shares of Argan, Inc. (NYSE:AGX) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,796 shares of the construction company’s stock after purchasing an additional 86 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Argan were worth $486,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cardinal Capital Management increased its holdings in Argan by 1.2% in the 2nd quarter. Cardinal Capital Management now owns 29,062 shares of the construction company’s stock valued at $2,126,000 after buying an additional 338 shares during the period. Ellsworth Advisors LLC boosted its position in shares of Argan by 3.5% during the 2nd quarter. Ellsworth Advisors LLC now owns 10,862 shares of the construction company’s stock valued at $795,000 after acquiring an additional 369 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Argan in the third quarter valued at about $43,000. Savant Capital LLC raised its position in Argan by 4.4% in the second quarter. Savant Capital LLC now owns 10,285 shares of the construction company’s stock worth $752,000 after purchasing an additional 431 shares in the last quarter. Finally, Creative Planning lifted its stake in Argan by 5.2% during the third quarter. Creative Planning now owns 10,616 shares of the construction company’s stock worth $1,077,000 after purchasing an additional 521 shares during the period. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Argan

In other Argan news, Director Rainer H. Bosselmann sold 4,598 shares of the business’s 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 approximately $31,015,962.45. The trade was a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William F. Leimkuhler sold 10,000 shares of the 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 sale, the director now directly owns 35,852 shares in the company, valued at $3,448,962.40. This trade represents a 21.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,703 shares of company stock valued at $4,257,794 in the last three months. Corporate insiders own 11.85% of the company’s stock.

Argan Price Performance

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

Argan (NYSE:AGX) last announced its 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. The business had revenue of $227.02 million during the quarter, compared to analysts’ expectations of $191.05 million. Argan had a net margin of 6.11% and a return on equity of 14.80%. The company’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. Investors of record on Wednesday, October 23rd were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a positive change from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 dividend on an annualized basis and a yield of 1.10%. Argan’s dividend payout ratio is 47.17%.

Wall Street Analyst Weigh In

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

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.