41,383 Shares in Argan, Inc. $AGX Bought by Thames Capital Management LLC

Thames Capital Management LLC acquired a new stake in Argan, Inc. (NYSE:AGX) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 41,383 shares of the construction company’s stock, valued at approximately $11,175,000. Argan makes up about 1.6% of Thames Capital Management LLC’s portfolio, making the stock its 29th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in AGX. First Trust Advisors LP boosted its holdings in shares of Argan by 14,436.3% in the 2nd quarter. First Trust Advisors LP now owns 329,393 shares of the construction company’s stock valued at $72,624,000 after buying an additional 327,127 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Argan by 696.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 296,988 shares of the construction company’s stock valued at $65,480,000 after acquiring an additional 259,720 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in shares of Argan by 1,142.2% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 188,665 shares of the construction company’s stock valued at $41,597,000 after acquiring an additional 173,477 shares during the period. Balyasny Asset Management L.P. grew its position in shares of Argan by 168.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 253,365 shares of the construction company’s stock valued at $55,862,000 after acquiring an additional 159,149 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Argan by 172.5% in the 2nd quarter. Invesco Ltd. now owns 229,893 shares of the construction company’s stock valued at $50,687,000 after purchasing an additional 145,516 shares during the period. Institutional investors own 79.43% of the company’s stock.

Argan Price Performance

AGX opened at $329.86 on Friday. The business has a fifty day simple moving average of $335.87 and a 200 day simple moving average of $277.10. Argan, Inc. has a 1 year low of $101.02 and a 1 year high of $399.30. The company has a market capitalization of $4.58 billion, a PE ratio of 38.85 and a beta of 0.64.

Argan (NYSE:AGX) last posted its earnings results on Thursday, December 4th. The construction company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 31.38% and a net margin of 13.11%.The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 earnings per share.

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 22nd will be issued 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 yield of 0.6%. Argan’s payout ratio is currently 23.56%.

Insiders Place Their Bets

In related news, Director Peter W. Getsinger sold 6,595 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $313.71, for a total transaction of $2,068,917.45. Following the sale, the director owned 7,847 shares of the company’s stock, valued at $2,461,682.37. This represents a 45.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James W. Quinn sold 1,000 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $328.04, for a total value of $328,040.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,664 shares of company stock worth $7,728,116 in the last quarter. Corporate insiders own 6.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Lake Street Capital cut 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 report on Friday, December 5th. Glj Research raised Argan from a “hold” rating to a “buy” rating and raised their price objective for the company from $251.00 to $369.00 in a research report on Monday, November 10th. UBS Group set a $315.00 target price on Argan in a research note on Monday, October 13th. Weiss Ratings restated a “buy (b+)” rating on shares of Argan in a research note on Wednesday, December 24th. Finally, Zacks Research raised shares of Argan from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $355.20.

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.