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

Bosun Asset Management LLC trimmed its position in Argan, Inc. (NYSE:AGX - Free Report) by 9.5% in the 4th quarter, according to its most recent 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 quarter. Argan comprises approximately 3.4% of Bosun Asset Management LLC's holdings, 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new stake in shares of Argan during the fourth quarter worth about $26,000. Farther Finance Advisors LLC purchased a new stake in Argan during the 4th quarter valued at approximately $32,000. Global Retirement Partners LLC bought a new stake in shares of Argan during the fourth quarter valued at approximately $35,000. Truvestments Capital LLC bought a new stake in shares of Argan during the fourth quarter valued at approximately $57,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Argan by 1,123.5% in the fourth 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. Institutional investors own 79.43% of the company's stock.

Insider Activity

In other Argan news, Director Peter W. Getsinger sold 5,000 shares of Argan stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard H. Deily sold 1,565 shares of the stock in a transaction on Wednesday, April 30th. The shares were 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 in the company, valued at approximately $1,188,400.64. This represents a 16.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,857 shares of company stock valued at $1,308,133 in the last ninety days. Insiders own 11.85% 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 target on the stock in a report on Friday, March 28th.

Argan Trading Up 1.1 %

NYSE:AGX opened at $165.61 on Tuesday. The business's 50-day moving average is $132.70 and its 200 day moving average is $142.26. Argan, Inc. has a 12 month low of $60.98 and a 12 month high of $191.46. The company has a market capitalization of $2.26 billion, a P/E ratio of 34.65 and a beta of 0.41.

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

Argan Dividend Announcement

The firm also recently declared 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 of this dividend was Tuesday, April 22nd. Argan's payout ratio is 24.55%.

Argan Company 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.

Want to see what other hedge funds are holding AGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Argan, Inc. (NYSE:AGX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.