Stratos Wealth Partners LTD. Purchases New Holdings in Argan, Inc. (NYSE:AGX)

Stratos Wealth Partners LTD. acquired a new position in Argan, Inc. (NYSE:AGX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,021 shares of the construction company’s stock, valued at approximately $2,333,000. Stratos Wealth Partners LTD. owned 0.13% of Argan as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in AGX. Spire Wealth Management bought a new position in Argan during the 4th quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Argan during the third quarter valued at $43,000. Copeland Capital Management LLC bought a new position in shares of Argan during the third quarter valued at $56,000. nVerses Capital LLC purchased a new position in shares of Argan in the 3rd quarter worth about $91,000. Finally, KBC Group NV bought a new position in Argan in the 4th quarter worth about $93,000. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Argan

In related news, CEO David Hibbert Watson sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $146.05, for a total transaction of $1,460,500.00. Following the sale, the chief executive officer now owns 51,291 shares of the company’s stock, valued at $7,491,050.55. This represents a 16.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter W. Getsinger sold 800 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $155.24, for a total transaction of $124,192.00. Following the transaction, the director now owns 19,177 shares of the company’s stock, valued at $2,977,037.48. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,185 shares of company stock valued at $3,105,359. 11.85% of the stock is currently owned by insiders.

Argan Stock Down 0.3 %

AGX stock opened at $161.67 on Friday. The stock has a market cap of $2.19 billion, a P/E ratio of 33.82 and a beta of 0.56. Argan, Inc. has a twelve month low of $44.69 and a twelve month high of $191.46. The business’s 50-day moving average price is $150.60 and its 200-day moving average price is $120.82.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.74. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm had revenue of $257.00 million for the quarter, compared to analysts’ expectations of $225.60 million. The company’s revenue was up 56.9% on a year-over-year basis.

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd were given a dividend of $0.375 per share. The ex-dividend date was Thursday, January 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.93%. Argan’s payout ratio is 31.38%.

Analyst Ratings Changes

Several brokerages have issued reports on AGX. StockNews.com cut shares of Argan from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. CJS Securities restated a “market perform” rating and set a $150.00 price objective on shares of Argan in a research report on Friday, December 6th. Finally, Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and raised their price target for the stock from $85.00 to $150.00 in a research note on Tuesday, December 3rd.

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.