Argan, Inc. (NYSE:AGX) Stock Position Trimmed by Bosun Asset Management LLC

Bosun Asset Management LLC reduced its position in Argan, Inc. (NYSE:AGX - Free Report) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,199 shares of the construction company's stock after selling 5,929 shares during the period. Argan accounts for about 3.4% of Bosun Asset Management LLC's investment portfolio, making the stock its 3rd biggest position. Bosun Asset Management LLC owned about 0.41% of Argan worth $7,702,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amundi grew its holdings in Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company's stock valued at $118,000 after purchasing an additional 68 shares during the last quarter. Savant Capital LLC grew 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 valued at $1,446,000 after buying an additional 133 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Argan by 3.7% in the fourth quarter. Cerity Partners LLC now owns 4,042 shares of the construction company's stock worth $545,000 after buying an additional 144 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of Argan by 0.6% during 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 position in Argan during the 4th quarter valued at $26,000. 79.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, 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 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. This trade represents a 16.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 5,000 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total transaction of $725,150.00. Following the sale, the director now directly owns 11,496 shares of the company's stock, valued at $1,667,264.88. The trade was a 30.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,857 shares of company stock worth $1,308,133 in the last three months. 11.85% of the stock is owned by insiders.

Argan Stock Performance

AGX traded down $1.20 during trading on Friday, hitting $169.91. 225,608 shares of the stock were exchanged, compared to its average volume of 309,780. 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 $2.32 billion, a price-to-earnings ratio of 35.55 and a beta of 0.42. The firm has a 50 day simple moving average of $136.32 and a 200 day simple moving average of $143.38.

Argan (NYSE:AGX - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $197.50 million. Argan's revenue for the quarter was up 41.3% on a year-over-year basis.

Argan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Tuesday, April 22nd. Argan's payout ratio is 24.55%.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital upgraded Argan from a "hold" rating to a "buy" rating and set a $150.00 target price 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.