Aquatic Capital Management LLC Acquires 2,613 Shares of Argan, Inc. (NYSE:AGX)

Aquatic Capital Management LLC raised its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 42.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,825 shares of the construction company's stock after purchasing an additional 2,613 shares during the period. Aquatic Capital Management LLC owned approximately 0.07% of Argan worth $1,209,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AGX. Amundi raised its holdings in shares of Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company's stock valued at $118,000 after buying an additional 68 shares in the last quarter. Savant Capital LLC raised its stake in shares of Argan by 1.3% during the fourth quarter. Savant Capital LLC now owns 10,552 shares of the construction company's stock worth $1,446,000 after acquiring an additional 133 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Argan by 3.7% during the fourth quarter. Cerity Partners LLC now owns 4,042 shares of the construction company's stock worth $545,000 after acquiring an additional 144 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Argan by 0.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company's stock worth $3,668,000 after acquiring an additional 150 shares during the last quarter. Finally, Spire Wealth Management purchased a new stake in shares of Argan in the 4th quarter valued at $26,000. Institutional investors own 79.43% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Argan

In related news, Director Peter W. Getsinger sold 2,292 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $150.35, for a total transaction of $344,602.20. Following the sale, the director now directly owns 9,500 shares of the company's stock, valued at approximately $1,428,325. This represents a 19.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard H. Deily sold 1,565 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $152.32, for a total transaction 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. This represents a 16.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,857 shares of company stock valued at $1,308,133 in the last 90 days. Insiders own 11.85% of the company's stock.

Argan Trading Up 3.1 %

AGX stock traded up $4.96 during midday trading on Friday, hitting $163.76. The company had a trading volume of 397,078 shares, compared to its average volume of 305,489. Argan, Inc. has a 52 week low of $60.38 and a 52 week high of $191.46. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 34.26 and a beta of 0.41. The stock's 50 day moving average price is $132.03 and its 200 day moving average price is $141.82.

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

Argan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were issued a dividend of $0.375 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $1.50 dividend on an annualized basis and a yield of 0.92%. Argan's dividend payout ratio is presently 24.55%.

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.