Anson Funds Management LP Sells 19,613 Shares of Argan, Inc. (NYSE:AGX)

Anson Funds Management LP cut its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 43.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,387 shares of the construction company's stock after selling 19,613 shares during the quarter. Anson Funds Management LP owned about 0.19% of Argan worth $3,479,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Barclays PLC boosted its position in Argan by 46.6% during the third quarter. Barclays PLC now owns 66,341 shares of the construction company's stock valued at $6,728,000 after acquiring an additional 21,094 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Argan by 51.0% during the 3rd quarter. Franklin Resources Inc. now owns 22,406 shares of the construction company's stock valued at $2,273,000 after purchasing an additional 7,564 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in Argan during the third quarter worth approximately $6,687,000. Principal Financial Group Inc. bought a new stake in Argan in the third quarter worth approximately $1,373,000. Finally, JPMorgan Chase & Co. increased its holdings in Argan by 70.8% in the third quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company's stock worth $3,836,000 after purchasing an additional 15,681 shares in the last quarter. Institutional investors own 79.43% of the company's stock.

Insider Activity at Argan

In other Argan news, CFO Richard H. Deily sold 1,565 shares of the business'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 completion of the sale, the chief financial officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 2,292 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was 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 directly owns 9,500 shares of the company's stock, valued at approximately $1,428,325. This trade represents a 19.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,857 shares of company stock valued at $1,308,133. 11.85% of the stock is owned by company insiders.

Argan Stock Performance

Shares of NYSE AGX traded up $1.84 during trading on Monday, hitting $165.61. 252,287 shares of the company traded hands, compared to its average volume of 306,271. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 34.65 and a beta of 0.41. The business's fifty day moving average is $132.70 and its 200 day moving average is $142.26. Argan, Inc. has a fifty-two week low of $60.98 and a fifty-two week high of $191.46.

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 analysts' consensus estimates of $1.15 by $1.07. The business had revenue of $232.47 million during the quarter, compared to analyst estimates of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. Argan's revenue was up 41.3% compared to the same quarter last year.

Argan Dividend Announcement

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

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 objective for the company in a research report on Friday, March 28th.

About Argan

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.