Argan, Inc. $AGX Shares Bought by Calamos Advisors LLC

Calamos Advisors LLC grew its stake in Argan, Inc. (NYSE:AGX) by 40.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 23,427 shares of the construction company’s stock after buying an additional 6,748 shares during the quarter. Calamos Advisors LLC owned 0.17% of Argan worth $5,165,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in Argan by 2,987.5% in the first quarter. Larson Financial Group LLC now owns 247 shares of the construction company’s stock worth $32,000 after acquiring an additional 239 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Argan in the 2nd quarter valued at approximately $44,000. IFP Advisors Inc acquired a new stake in shares of Argan in the 2nd quarter valued at $71,000. State of Wyoming purchased a new stake in shares of Argan during the 1st quarter worth $109,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Argan by 16,640.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 837 shares of the construction company’s stock worth $110,000 after purchasing an additional 832 shares in the last quarter. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Argan

In related news, CEO Charles Edwin Iv Collins sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $292.09, for a total transaction of $2,920,900.00. Following the transaction, the chief executive officer owned 21,006 shares of the company’s stock, valued at $6,135,642.54. This trade represents a 32.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Cynthia Flanders sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $271.96, for a total value of $4,079,400.00. Following the sale, the director directly owned 16,428 shares of the company’s stock, valued at approximately $4,467,758.88. This represents a 47.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 106,795 shares of company stock worth $29,401,111 in the last three months. Company insiders own 6.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AGX shares. Weiss Ratings restated a “buy (b)” rating on shares of Argan in a research note on Wednesday, October 8th. The Goldman Sachs Group began coverage on Argan in a research report on Tuesday. They set a “buy” rating and a $397.00 target price on the stock. Wall Street Zen upgraded Argan from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Glj Research upgraded shares of Argan from a “hold” rating to a “buy” rating and increased their price target for the company from $251.00 to $369.00 in a research note on Monday. Finally, Zacks Research upgraded shares of Argan from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Argan has an average rating of “Moderate Buy” and a consensus target price of $301.00.

Argan Stock Down 7.8%

NYSE:AGX opened at $336.40 on Friday. The company has a market capitalization of $4.65 billion, a PE ratio of 40.43 and a beta of 0.64. Argan, Inc. has a 52-week low of $101.02 and a 52-week high of $365.09. The stock’s 50 day moving average price is $277.98 and its 200 day moving average price is $233.82.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, September 4th. The construction company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.51. The business had revenue of $237.74 million during the quarter, compared to the consensus estimate of $243.97 million. Argan had a return on equity of 32.61% and a net margin of 12.73%.The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 earnings per share.

Argan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Thursday, October 23rd were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. This is an increase from Argan’s previous quarterly dividend of $0.38. Argan’s dividend payout ratio (DPR) is currently 24.04%.

Argan 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.