Dynamic Technology Lab Private Ltd Sells 2,462 Shares of Argan, Inc. (NYSE:AGX)

Dynamic Technology Lab Private Ltd reduced its position in Argan, Inc. (NYSE:AGX) by 29.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,767 shares of the construction company’s stock after selling 2,462 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Argan were worth $585,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AGX. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Argan in the second quarter valued at approximately $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Argan during the 3rd quarter valued at $43,000. Copeland Capital Management LLC bought a new position in Argan during the third quarter worth $56,000. Point72 DIFC Ltd acquired a new position in shares of Argan in the second quarter valued at $70,000. Finally, nVerses Capital LLC acquired a new position in shares of Argan in the third quarter valued at $91,000. Institutional investors own 79.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th.

Argan Trading Down 3.6 %

Argan stock opened at $155.05 on Friday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 48.76 and a beta of 0.49. Argan, Inc. has a 12 month low of $39.74 and a 12 month high of $165.33. The stock’s 50 day moving average is $128.87 and its 200-day moving average is $93.69.

Argan (NYSE:AGX) last posted 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 for 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%. The business’s revenue was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd were paid a $0.375 dividend. This is a boost from Argan’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $1.50 annualized dividend and a yield of 0.97%. Argan’s payout ratio is 47.17%.

Insider Buying and Selling at Argan

In other Argan news, Director Rainer H. Bosselmann sold 10,105 shares of Argan 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 completion of the transaction, the director now directly owns 219,879 shares of the company’s stock, valued at $28,606,257.90. The trade was a 4.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cynthia Flanders sold 5,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $96.39, for a total value of $481,950.00. Following the sale, the director now directly owns 17,332 shares in the company, valued at approximately $1,670,631.48. This trade represents a 22.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,703 shares of company stock valued at $4,257,794 in the last quarter. Company insiders own 11.85% of the company’s stock.

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.