Court Place Advisors LLC Invests $208,000 in Argan, Inc. (NYSE:AGX)

Court Place Advisors LLC bought a new stake in Argan, Inc. (NYSE:AGX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,050 shares of the construction company’s stock, valued at approximately $208,000.

A number of other institutional investors have also made changes to their positions in AGX. Vanguard Group Inc. increased its position in Argan by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 726,171 shares of the construction company’s stock valued at $36,701,000 after acquiring an additional 12,162 shares in the last quarter. Renaissance Technologies LLC raised its position in Argan by 7.7% in the 2nd quarter. Renaissance Technologies LLC now owns 537,296 shares of the construction company’s stock worth $39,309,000 after purchasing an additional 38,300 shares during the last quarter. American Century Companies Inc. lifted its holdings in Argan by 31.8% during the 2nd quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock worth $22,336,000 after buying an additional 73,658 shares in the last quarter. Acadian Asset Management LLC boosted its position in Argan by 32.8% in the 2nd quarter. Acadian Asset Management LLC now owns 175,245 shares of the construction company’s stock valued at $12,811,000 after buying an additional 43,258 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Argan by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 112,979 shares of the construction company’s stock valued at $8,266,000 after buying an additional 3,314 shares during the period. 79.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Rainer H. Bosselmann sold 10,105 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $130.10, for a total value of $1,314,660.50. Following the transaction, the director now owns 219,879 shares of the company’s stock, valued at $28,606,257.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Rainer H. Bosselmann sold 4,598 shares of Argan stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $131.01, for a total transaction of $602,383.98. Following the transaction, the director now owns 236,745 shares of the company’s stock, valued at $31,015,962.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rainer H. Bosselmann sold 10,105 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $130.10, for a total transaction of $1,314,660.50. Following the transaction, the director now owns 219,879 shares of the company’s stock, valued at approximately $28,606,257.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,703 shares of company stock valued at $5,450,150. Company insiders own 11.85% of the company’s stock.

Argan Price Performance

Shares of AGX stock traded up $2.42 on Friday, reaching $124.45. 21,385 shares of the stock were exchanged, compared to its average volume of 157,926. Argan, Inc. has a one year low of $39.74 and a one year high of $135.85. The stock has a market cap of $1.68 billion, a PE ratio of 38.37 and a beta of 0.53. The stock has a 50 day moving average price of $96.12 and a 200 day moving average price of $78.69.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.34. The firm had revenue of $227.02 million during the quarter, compared to analysts’ expectations of $191.05 million. Argan had a return on equity of 14.80% and a net margin of 6.11%. Argan’s quarterly revenue was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd will be paid a $0.375 dividend. The ex-dividend date is Wednesday, October 23rd. This is a boost from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 dividend on an annualized basis and a yield of 1.21%. Argan’s dividend payout ratio (DPR) is presently 37.74%.

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.