Cardinal Capital Management Purchases 111 Shares of Argan, Inc. (NYSE:AGX)

Cardinal Capital Management raised its position in shares of Argan, Inc. (NYSE:AGXFree Report) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,086 shares of the construction company’s stock after acquiring an additional 111 shares during the period. Cardinal Capital Management owned approximately 0.23% of Argan worth $4,078,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Tcfg Wealth Management LLC bought a new position in Argan during the first quarter valued at $415,000. Wealth Enhancement Advisory Services LLC increased its position in Argan by 26.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,977 shares of the construction company’s stock valued at $522,000 after acquiring an additional 839 shares during the last quarter. SG Americas Securities LLC increased its position in Argan by 362.2% during the first quarter. SG Americas Securities LLC now owns 4,969 shares of the construction company’s stock valued at $652,000 after acquiring an additional 3,894 shares during the last quarter. Pallas Capital Advisors LLC increased its position in Argan by 11.5% during the first quarter. Pallas Capital Advisors LLC now owns 2,044 shares of the construction company’s stock valued at $268,000 after acquiring an additional 211 shares during the last quarter. Finally, City Center Advisors LLC bought a new position in Argan during the first quarter valued at $223,000. Institutional investors own 79.43% of the company’s stock.

Analyst Upgrades and Downgrades

AGX has been the topic of a number of research analyst reports. Kepler Capital Markets cut shares of Argan from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 28th. Lake Street Capital upped their price target on shares of Argan from $150.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, June 5th.

Get Our Latest Stock Analysis on AGX

Insider Buying and Selling

In related news, Director James W. Quinn sold 40,000 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $207.92, for a total value of $8,316,800.00. Following the completion of the sale, the director now directly owns 16,557 shares of the company’s stock, valued at $3,442,531.44. This represents a 70.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter W. Getsinger sold 5,000 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total transaction of $725,150.00. Following the completion of the sale, the director now directly owns 11,496 shares of the company’s stock, valued at approximately $1,667,264.88. This trade represents a 30.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,585 shares of company stock valued at $12,666,783 over the last three months. 6.69% of the stock is owned by company insiders.

Argan Trading Up 0.1%

NYSE AGX opened at $218.35 on Tuesday. The company’s 50-day moving average price is $177.76 and its 200-day moving average price is $153.75. The stock has a market cap of $2.98 billion, a PE ratio of 45.68 and a beta of 0.55. Argan, Inc. has a 12 month low of $63.53 and a 12 month high of $246.60.

Argan (NYSE:AGXGet Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The construction company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.51. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm had revenue of $193.66 million for the quarter, compared to analysts’ expectations of $193.75 million. During the same period in the prior year, the business posted $0.58 earnings per share. The business’s revenue for the quarter was up 22.8% on a year-over-year basis.

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Tuesday, April 22nd. Argan’s dividend payout ratio (DPR) is presently 21.04%.

About Argan

(Free Report)

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.

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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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