Schonfeld Strategic Advisors LLC Lowers Position in Argan, Inc. (NYSE:AGX)

Schonfeld Strategic Advisors LLC reduced its stake in Argan, Inc. (NYSE:AGX - Free Report) by 45.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,900 shares of the construction company's stock after selling 5,000 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Argan were worth $809,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AGX. Spire Wealth Management acquired a new position in Argan during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC acquired a new position in shares of Argan during the fourth quarter worth approximately $32,000. Global Retirement Partners LLC bought a new position in shares of Argan in the 4th quarter worth $35,000. Truvestments Capital LLC bought a new position in shares of Argan in the 4th quarter worth $57,000. Finally, Federated Hermes Inc. grew its position in Argan by 1,123.5% in the 4th quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock valued at $57,000 after purchasing an additional 382 shares during the period. Institutional investors and hedge funds own 79.43% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CFO Richard H. Deily sold 1,565 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total value of $238,380.80. Following the sale, the chief financial officer now directly owns 7,802 shares in the company, valued at approximately $1,188,400.64. The trade was a 16.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 2,292 shares of the company's 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 in the company, 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 ninety days, insiders have sold 8,857 shares of company stock valued at $1,308,133. 11.85% of the stock is owned by insiders.

Argan Stock Down 0.7 %

NYSE:AGX traded down $1.20 during trading hours on Friday, hitting $169.91. 225,608 shares of the company traded hands, compared to its average volume of 309,780. Argan, Inc. has a one year low of $63.53 and a one year high of $191.46. The company has a market cap of $2.32 billion, a PE ratio of 35.55 and a beta of 0.42. The firm's 50-day simple moving average is $136.32 and its 200-day simple moving average is $143.38.

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

Argan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Tuesday, April 22nd. Argan's payout ratio is 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.