Anson Funds Management LP Cuts Stock Position in Argan, Inc. (NYSE:AGX)

Anson Funds Management LP cut its stake in Argan, Inc. (NYSE:AGX - Free Report) by 43.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,387 shares of the construction company's stock after selling 19,613 shares during the period. Anson Funds Management LP owned about 0.19% of Argan worth $3,479,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in shares of Argan by 5.1% in the fourth quarter. Northern Trust Corp now owns 133,494 shares of the construction company's stock worth $18,294,000 after purchasing an additional 6,483 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Argan in the 4th quarter worth approximately $416,000. Aquatic Capital Management LLC increased its holdings in shares of Argan by 42.1% during the fourth quarter. Aquatic Capital Management LLC now owns 8,825 shares of the construction company's stock valued at $1,209,000 after acquiring an additional 2,613 shares in the last quarter. Nebula Research & Development LLC increased its holdings in shares of Argan by 70.7% in the 4th quarter. Nebula Research & Development LLC now owns 16,064 shares of the construction company's stock worth $2,201,000 after purchasing an additional 6,652 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Argan by 66.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 109,541 shares of the construction company's stock valued at $15,011,000 after buying an additional 43,613 shares during the period. Institutional investors own 79.43% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upgraded 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 Argan stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $150.35, for a total transaction of $344,602.20. Following the completion of the sale, the director now owns 9,500 shares of the company's stock, valued at $1,428,325. The trade was a 19.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard H. Deily sold 1,565 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total transaction of $238,380.80. Following the transaction, the chief financial officer now directly owns 7,802 shares of the company's stock, valued at $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. In the last quarter, insiders have sold 8,857 shares of company stock worth $1,308,133. 11.85% of the stock is owned by corporate insiders.

Argan Stock Performance

AGX traded up $6.60 during trading on Thursday, hitting $174.50. 168,241 shares of the stock were exchanged, compared to its average volume of 307,231. The firm has a 50 day simple moving average of $134.34 and a 200 day simple moving average of $142.62. Argan, Inc. has a 1 year low of $63.53 and a 1 year high of $191.46. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 36.51 and a beta of 0.42.

Argan (NYSE:AGX - Get Free Report) last announced its 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. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. Argan's revenue for the quarter was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.86%. The ex-dividend date was Tuesday, April 22nd. Argan's dividend payout ratio is presently 24.55%.

Argan 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.