Nomura Holdings Inc. Purchases New Stake in Argan, Inc. (NYSE:AGX)

Nomura Holdings Inc. purchased a new stake in Argan, Inc. (NYSE:AGX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,603 shares of the construction company’s stock, valued at approximately $1,042,000. Nomura Holdings Inc. owned about 0.06% of Argan as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Argan by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 843,583 shares of the construction company’s stock valued at $115,605,000 after purchasing an additional 16,784 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Argan by 21.0% in the fourth quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company’s stock valued at $92,170,000 after purchasing an additional 116,783 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Argan by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 529,052 shares of the construction company’s stock valued at $72,502,000 after purchasing an additional 29,062 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Argan by 18.1% in the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company’s stock valued at $65,869,000 after purchasing an additional 73,654 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Argan by 37.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company’s stock worth $40,475,000 after acquiring an additional 80,844 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital raised Argan from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Friday, March 28th.

Insider Activity at Argan

In other Argan news, CFO Richard H. Deily sold 1,565 shares of Argan stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total transaction of $238,380.80. Following the completion of the sale, the chief financial officer now directly owns 7,802 shares of the company’s stock, valued at $1,188,400.64. The trade was a 16.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter W. Getsinger sold 5,000 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total value of $725,150.00. Following the transaction, the director now directly owns 11,496 shares of the company’s stock, valued at approximately $1,667,264.88. This represents a 30.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,857 shares of company stock worth $1,308,133. Company insiders own 6.69% of the company’s stock.

Argan Stock Up 2.7%

AGX opened at $188.30 on Monday. Argan, Inc. has a 52 week low of $63.53 and a 52 week high of $191.46. The business has a fifty day simple moving average of $142.87 and a 200-day simple moving average of $145.20. The firm has a market cap of $2.57 billion, a P/E ratio of 39.39 and a beta of 0.42.

Argan (NYSE:AGX) last released its quarterly earnings results on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.15 by $1.07. The business had revenue of $232.47 million during the quarter, compared to analyst estimates of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm’s quarterly revenue was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were issued a $0.375 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $1.50 dividend on an annualized basis and a yield of 0.80%. Argan’s dividend payout ratio (DPR) is presently 24.55%.

Argan Company 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.