Harvest Investment Services LLC acquired a new position in shares of Argan, Inc. (NYSE:AGX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,789 shares of the construction company's stock, valued at approximately $1,204,000. Harvest Investment Services LLC owned about 0.06% of Argan at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Soros Capital Management LLC bought a new position in Argan during the 4th quarter worth approximately $10,340,000. State of Tennessee Department of Treasury bought a new position in Argan during the fourth quarter worth $138,000. MML Investors Services LLC acquired a new position in Argan in the fourth quarter valued at $1,150,000. MetLife Investment Management LLC boosted its position in Argan by 7.1% during the fourth quarter. MetLife Investment Management LLC now owns 7,581 shares of the construction company's stock valued at $1,039,000 after acquiring an additional 503 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in Argan during the 4th quarter worth about $4,195,000. 79.43% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Lake Street Capital upgraded Argan from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a research report on Friday, March 28th.
Read Our Latest Stock Analysis on AGX
Argan Price Performance
Shares of NYSE:AGX traded up $2.46 during mid-day trading on Friday, hitting $151.12. The company had a trading volume of 243,122 shares, compared to its average volume of 301,570. Argan, Inc. has a one year low of $60.03 and a one year high of $191.46. The firm has a fifty day moving average price of $129.87 and a 200 day moving average price of $140.60. The company has a market capitalization of $2.06 billion, a PE ratio of 31.61 and a beta of 0.45.
Argan (NYSE:AGX - Get Free Report) last issued its earnings results on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, beating 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 company had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. Argan's quarterly revenue was up 41.3% on a year-over-year basis.
Argan Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's dividend payout ratio is currently 24.55%.
Insider Transactions at Argan
In related news, Director Peter W. Getsinger sold 5,000 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total value of $725,150.00. Following the completion of the sale, the director now directly owns 11,496 shares of the company's stock, valued at approximately $1,667,264.88. This represents a 30.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.85% of the stock is currently owned by insiders.
Argan Profile
(
Free Report)
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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