Copeland Capital Management LLC Takes Position in Argan, Inc. (NYSE:AGX)

Copeland Capital Management LLC acquired a new stake in Argan, Inc. (NYSE:AGX) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 557 shares of the construction company’s stock, valued at approximately $56,000.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. increased its position in Argan by 31.8% during the second quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock worth $22,336,000 after buying an additional 73,658 shares during the last quarter. Hood River Capital Management LLC acquired a new position in Argan during the second quarter worth approximately $5,245,000. Sapient Capital LLC acquired a new position in Argan during the third quarter worth approximately $4,783,000. Deprince Race & Zollo Inc. acquired a new position in Argan during the second quarter worth approximately $3,168,000. Finally, Marshall Wace LLP acquired a new position in Argan during the second quarter worth approximately $3,166,000. Institutional investors own 79.43% of the company’s stock.

Argan Stock Down 3.3 %

Shares of NYSE AGX opened at $125.01 on Wednesday. The business’s 50 day moving average price is $94.15 and its two-hundred day moving average price is $78.09. The company has a market cap of $1.69 billion, a PE ratio of 39.31 and a beta of 0.53. Argan, Inc. has a twelve month low of $39.74 and a twelve month high of $135.85.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.34. Argan had a return on equity of 14.80% and a net margin of 6.11%. The company had revenue of $227.02 million during the quarter, compared to analysts’ expectations of $191.05 million. The company’s quarterly revenue was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd will be paid a $0.375 dividend. This is a boost from Argan’s previous quarterly dividend of $0.30. This represents a $1.50 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Wednesday, October 23rd. Argan’s payout ratio is 37.74%.

Insider Activity at Argan

In other Argan news, Director Cynthia Flanders sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the sale, the director now directly owns 17,332 shares in the company, valued at $1,670,631.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Argan news, Director Cynthia Flanders sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the sale, the director now directly owns 17,332 shares in the company, valued at $1,670,631.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James W. Quinn sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $89.68, for a total transaction of $896,800.00. Following the transaction, the director now owns 70,422 shares of the company’s stock, valued at $6,315,444.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,703 shares of company stock worth $5,450,150. 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.