12,500 Shares in Argan, Inc. (NYSE:AGX) Purchased by CastleKnight Management LP

CastleKnight Management LP bought a new stake in Argan, Inc. (NYSE:AGX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,500 shares of the construction company's stock, valued at approximately $1,713,000. CastleKnight Management LP owned about 0.09% of Argan as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AGX. Balyasny Asset Management L.P. bought a new stake in shares of Argan in the fourth quarter valued at approximately $23,064,000. Renaissance Technologies LLC increased its position in shares of Argan by 21.0% in the fourth quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company's stock worth $92,170,000 after purchasing an additional 116,783 shares during the period. Thames Capital Management LLC lifted its position in Argan by 286.8% during the fourth quarter. Thames Capital Management LLC now owns 117,384 shares of the construction company's stock worth $16,086,000 after purchasing an additional 87,038 shares during the period. Bank of New York Mellon Corp grew its stake in Argan by 80.3% during the fourth quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company's stock worth $25,549,000 after buying an additional 83,039 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Argan by 37.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company's stock valued at $40,475,000 after buying an additional 80,844 shares in the last quarter. Institutional investors own 79.43% of the company's stock.

Analysts Set New Price Targets

Separately, Lake Street Capital upgraded Argan from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a research note on Friday, March 28th.

Argan Stock Performance

AGX stock opened at $165.61 on Tuesday. The company has a market capitalization of $2.26 billion, a P/E ratio of 34.65 and a beta of 0.41. Argan, Inc. has a 52-week low of $60.98 and a 52-week high of $191.46. The company has a fifty day moving average price of $132.70 and a 200-day moving average price of $142.26.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.15 by $1.07. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm had revenue of $232.47 million during the quarter, compared to analyst estimates of $197.50 million. The firm's revenue for the quarter was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were given a $0.375 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $1.50 annualized dividend and a yield of 0.91%. Argan's payout ratio is 24.55%.

Insider Transactions at Argan

In other Argan news, CFO Richard H. Deily sold 1,565 shares of Argan stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $152.32, for a total value of $238,380.80. Following the sale, the chief financial officer now owns 7,802 shares of the company's stock, valued at approximately $1,188,400.64. The trade was a 16.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter W. Getsinger sold 2,292 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $150.35, for a total value of $344,602.20. Following the completion of the sale, the director now owns 9,500 shares in the company, valued at approximately $1,428,325. The trade was a 19.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,857 shares of company stock valued at $1,308,133 over the last ninety days. 11.85% of the stock is currently owned by insiders.

Argan Company 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.

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