New Amsterdam Partners LLC NY Takes Position in Argan, Inc. (AGX)

New Amsterdam Partners LLC NY purchased a new position in shares of Argan, Inc. (NYSE:AGX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 80,490 shares of the construction company’s stock, valued at approximately $5,413,000. New Amsterdam Partners LLC NY owned approximately 0.52% of Argan as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. American Century Companies Inc. increased its holdings in Argan by 112.1% in the third quarter. American Century Companies Inc. now owns 121,675 shares of the construction company’s stock valued at $8,183,000 after buying an additional 64,313 shares in the last quarter. Chicago Equity Partners LLC increased its holdings in Argan by 9.7% in the third quarter. Chicago Equity Partners LLC now owns 59,445 shares of the construction company’s stock valued at $3,998,000 after buying an additional 5,240 shares in the last quarter. Navellier & Associates Inc increased its holdings in Argan by 3.0% in the second quarter. Navellier & Associates Inc now owns 14,780 shares of the construction company’s stock valued at $887,000 after buying an additional 435 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Argan by 43.3% in the second quarter. Dynamic Technology Lab Private Ltd now owns 8,195 shares of the construction company’s stock valued at $491,000 after buying an additional 2,475 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new position in Argan in the second quarter valued at about $123,000. 86.78% of the stock is owned by institutional investors.

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Separately, BidaskClub cut shares of Argan from a “hold” rating to a “sell” rating in a report on Monday, August 14th.

Shares of Argan, Inc. (NYSE AGX) traded down $1.80 during trading on Tuesday, reaching $66.75. 60,143 shares of the company’s stock were exchanged, compared to its average volume of 131,207. Argan, Inc. has a 12 month low of $54.45 and a 12 month high of $76.70. The stock has a market capitalization of $1,040.00, a PE ratio of 12.27 and a beta of 0.96.

Argan (NYSE:AGX) last announced its quarterly earnings results on Thursday, September 7th. The construction company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.69. Argan had a return on equity of 28.23% and a net margin of 9.88%. The company had revenue of $259.80 million during the quarter, compared to analyst estimates of $217.75 million. During the same period in the prior year, the company earned $1.29 earnings per share. The firm’s revenue was up 59.9% on a year-over-year basis.

The company also recently declared an annual dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 20th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, October 19th. This is a positive change from Argan’s previous annual dividend of $0.70. This represents a yield of 1.63%. Argan’s dividend payout ratio is presently 18.35%.

In other news, Director John Ronald Jr. Jeffrey purchased 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was bought at an average cost of $62.49 per share, with a total value of $93,735.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.64% of the stock is currently owned by corporate insiders.

About Argan

Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.

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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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