Drucker Wealth 3.0 LLC Acquires New Position in Argan, Inc. $AGX

Drucker Wealth 3.0 LLC bought a new position in shares of Argan, Inc. (NYSE:AGX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,588 shares of the construction company’s stock, valued at approximately $699,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mark Sheptoff Financial Planning LLC bought a new position in shares of Argan in the 2nd quarter worth $44,000. Eastern Bank bought a new position in Argan during the third quarter worth about $55,000. Federated Hermes Inc. grew its position in shares of Argan by 22.0% during the 3rd quarter. Federated Hermes Inc. now owns 255 shares of the construction company’s stock worth $69,000 after buying an additional 46 shares during the period. Bessemer Group Inc. raised its position in shares of Argan by 3,200.0% in the 3rd quarter. Bessemer Group Inc. now owns 330 shares of the construction company’s stock valued at $89,000 after acquiring an additional 320 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Argan by 1,116.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the construction company’s stock worth $80,000 after acquiring an additional 335 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.

Argan Trading Up 2.1%

Shares of NYSE AGX opened at $415.62 on Thursday. The company has a fifty day moving average price of $349.13 and a 200 day moving average price of $304.56. The firm has a market cap of $5.76 billion, a PE ratio of 48.95 and a beta of 0.63. Argan, Inc. has a 1-year low of $101.02 and a 1-year high of $449.90.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, December 4th. The construction company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.35. The company had revenue of $251.15 million for the quarter, compared to analyst estimates of $251.50 million. Argan had a return on equity of 31.38% and a net margin of 13.11%.The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 earnings per share.

Argan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Thursday, January 22nd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, January 22nd. Argan’s dividend payout ratio (DPR) is currently 23.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AGX shares. Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and upped their target price for the company from $260.00 to $325.00 in a research note on Friday, December 5th. Glj Research upgraded shares of Argan from a “hold” rating to a “buy” rating and upped their price objective for the company from $251.00 to $369.00 in a research report on Monday, November 10th. The Goldman Sachs Group started coverage on Argan in a research note on Tuesday, November 11th. They set a “buy” rating and a $397.00 price objective on the stock. Zacks Research cut Argan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, CJS Securities upgraded Argan to a “hold” rating in a report on Thursday, December 11th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $355.20.

Insider Buying and Selling

In related news, Director Peter W. Getsinger sold 6,595 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $313.71, for a total transaction of $2,068,917.45. Following the completion of the transaction, the director owned 7,847 shares in the company, valued at approximately $2,461,682.37. This represents a 45.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cynthia Flanders sold 19,000 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $386.70, for a total transaction of $7,347,300.00. Following the completion of the transaction, the director directly owned 26,207 shares of the company’s stock, valued at approximately $10,134,246.90. This trade represents a 42.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 55,915 shares of company stock valued at $20,182,794 over the last ninety days. Insiders own 6.69% of the company’s stock.

Argan 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.