ARGAN INC
In the published model solve dated 2026-Q2, anchored at $602.14, ARGAN INC (AGX) is priced for +41.6% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Backlog is the whole story and it doubled: the Power segment carried ⟦"over $2.7 billion"⟧ of contracted work at January 31, 2026 against ⟦"approximately $1.3 billion"⟧ a year earlier, on a business that builds gas-fired power plants for utilities and independent producers. • The supply side of that market has thinned in Argan's favor, because ⟦"the number of capable competitors has declined over the past decade as several major firms have exited the market, been acquired, or moved away from f
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483 institutional managers reported holding AGX in 13F filings for the quarter ended 2026-03-31. Together they hold about 93% of the company; the top 10 hold 48%. 125 opened new positions that quarter. Held by BlackRock, Renaissance Technologies, State Street, among others. On the short side, 645k shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (1.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
AGX has cut its share count 11.5% over the past five years, spending $95.06M on repurchases. It pays a dividend, and has for 10 years running, raised 3 years straight; the current rate is $1.75 a share annually. Cash returned over the past three years: $60.87M in dividends and $23.14M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at AGX over the trailing three years: 2023: 2 buys totaling $258k. 14 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
AGX's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-06-09 | -14.1% | +5.9% |
| 2023-09-07 | +8.8% | -1.2% |
| 2023-12-07 | -12.1% | +9.6% |
| 2024-04-12 | +20.7% | +28.5% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
AGX's latest 8-K filings: 2026-08-04 (items 8.01, 9.01); 2026-06-10 (items 5.07, 8.01, 9.01); 2026-06-04 (items 2.02, 9.01); 2026-04-08 (items 8.01, 9.01); 2026-03-26 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.