Argan, Inc. (NYSE:AGX) Shares Sold by XTX Topco Ltd

XTX Topco Ltd cut its position in Argan, Inc. (NYSE:AGX - Free Report) by 76.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,480 shares of the construction company's stock after selling 4,744 shares during the quarter. XTX Topco Ltd's holdings in Argan were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Separately, Lake Street Capital raised Argan from a "hold" rating to a "buy" rating and set a $150.00 price objective on the stock in a research report on Friday, March 28th.

Argan Price Performance

Shares of Argan stock traded up $8.38 on Friday, reaching $167.18. 117,681 shares of the company were exchanged, compared to its average volume of 303,383. The stock's 50 day moving average price is $131.26 and its 200-day moving average price is $141.53. Argan, Inc. has a 1-year low of $60.23 and a 1-year high of $191.46. The company has a market cap of $2.28 billion, a P/E ratio of 34.91 and a beta of 0.41.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $232.47 million for 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%. 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 was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.375 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $1.50 annualized dividend and a dividend yield of 0.90%. Argan's dividend payout ratio is currently 24.55%.

Insider Activity

In related news, CFO Richard H. Deily sold 1,565 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $152.32, for a total value 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 $1,188,400.64. The trade was a 16.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter W. Getsinger sold 5,000 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total value of $725,150.00. Following the transaction, the director now directly owns 11,496 shares in the company, valued at approximately $1,667,264.88. The trade was a 30.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,857 shares of company stock worth $1,308,133. 11.85% of the stock is currently owned by insiders.

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.