6,005 Shares in Argan, Inc. $AGX Purchased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC bought a new stake in shares of Argan, Inc. (NYSE:AGX) during the 2nd quarter, Holdings Channel reports. The firm bought 6,005 shares of the construction company’s stock, valued at approximately $4,795,000.

A number of other large investors have also recently made changes to their positions in the stock. NewEdge Wealth LLC purchased a new position in shares of Argan during the second quarter valued at approximately $8,123,000. Great Lakes Advisors LLC purchased a new stake in Argan in the second quarter worth approximately $4,775,000. BlackRock Inc. purchased a new stake in Argan in the second quarter worth approximately $1,764,086,000. Pallas Capital Advisors LLC bought a new stake in Argan in the 2nd quarter worth approximately $1,502,000. Finally, Deutsche Bank AG bought a new stake in Argan in the 2nd quarter worth approximately $55,835,000. 79.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Zacks Research cut Argan from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Lake Street Capital lifted their price objective on Argan from $375.00 to $600.00 and gave the stock a “hold” rating in a report on Friday, June 5th. Finally, Weiss Ratings cut Argan from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $470.40.

Insider Activity

In related news, Director John Ronald Jr. Jeffrey sold 5,716 shares of Argan stock in a transaction on Friday, July 31st. The shares were sold at an average price of $579.64, for a total transaction of $3,313,222.24. Following the transaction, the director owned 2,533 shares in the company, valued at approximately $1,468,228.12. The trade was a 69.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Sweeney sold 300 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $705.00, for a total value of $211,500.00. Following the sale, the director directly owned 1,548 shares in the company, valued at approximately $1,091,340. This represents a 16.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 127,973 shares of company stock worth $87,554,828. 2.99% of the stock is currently owned by insiders.

Argan Price Performance

Shares of Argan stock opened at $527.74 on Thursday. Argan, Inc. has a 1-year low of $197.00 and a 1-year high of $805.75. The company’s fifty day simple moving average is $638.19 and its 200-day simple moving average is $578.99. The stock has a market capitalization of $7.40 billion, a PE ratio of 46.37 and a beta of 0.61.

Argan (NYSE:AGX) last released its earnings results on Thursday, June 4th. The construction company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.93. The company had revenue of $290.95 million for the quarter, compared to the consensus estimate of $256.03 million. Argan had a return on equity of 36.89% and a net margin of 15.48%.Argan’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.60 earnings per share. As a group, research analysts anticipate that Argan, Inc. will post 12.6 EPS for the current year.

Argan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 23rd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Thursday, July 23rd. Argan’s dividend payout ratio is presently 17.57%.

Argan Company Profile

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.