Nomura Holdings Inc. Has $3.11 Million Stock Holdings in Argan, Inc. $AGX

Nomura Holdings Inc. trimmed its position in shares of Argan, Inc. (NYSE:AGX) by 79.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,103 shares of the construction company’s stock after selling 55,081 shares during the period. Nomura Holdings Inc.’s holdings in Argan were worth $3,109,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AGX. FORA Capital LLC acquired a new stake in shares of Argan during the 2nd quarter worth approximately $1,435,000. Evergreen Capital Management LLC bought a new position in Argan in the second quarter worth $266,000. Tower Research Capital LLC TRC boosted its stake in Argan by 87.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,700 shares of the construction company’s stock worth $595,000 after buying an additional 1,261 shares in the last quarter. State of Tennessee Department of Treasury bought a new stake in Argan in the 2nd quarter valued at $129,000. Finally, Captrust Financial Advisors acquired a new position in shares of Argan in the 2nd quarter valued at $254,000. Institutional investors own 79.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AGX. Glj Research upgraded shares of Argan from a “hold” rating to a “buy” rating and lifted their target price for the company from $251.00 to $369.00 in a research report on Monday, November 10th. Zacks Research raised Argan from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 11th. UBS Group set a $315.00 target price on Argan in a report on Monday, October 13th. Wall Street Zen raised Argan from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Finally, The Goldman Sachs Group initiated coverage on Argan in a research report on Tuesday, November 11th. They issued a “buy” rating and a $397.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.20.

Argan Price Performance

Shares of AGX opened at $318.56 on Tuesday. The business’s 50 day simple moving average is $321.88 and its 200-day simple moving average is $260.82. Argan, Inc. has a one year low of $101.02 and a one year high of $399.30. The company has a market capitalization of $4.42 billion, a P/E ratio of 37.52 and a beta of 0.60.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, December 4th. The construction company reported $2.17 EPS for the quarter, topping 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 business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.00 earnings per share.

Argan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 22nd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, January 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. Argan’s dividend payout ratio is currently 23.56%.

Insider Transactions at Argan

In other Argan news, Director Peter W. Getsinger sold 6,493 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $294.39, for a total value of $1,911,474.27. Following the completion of the transaction, the director directly owned 9,897 shares of the company’s stock, valued at approximately $2,913,577.83. The trade was a 39.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James W. Quinn sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $328.04, for a total transaction of $328,040.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 107,795 shares of company stock worth $29,729,151. Corporate insiders own 6.69% of the company’s stock.

About Argan

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.