Argan, Inc. (NYSE:AGX) Stock Position Decreased by Barclays PLC

Barclays PLC lessened its stake in shares of Argan, Inc. (NYSE:AGX - Free Report) by 65.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,866 shares of the construction company's stock after selling 43,475 shares during the quarter. Barclays PLC owned about 0.17% of Argan worth $3,134,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AGX. Renaissance Technologies LLC grew its holdings in shares of Argan by 21.0% during the fourth quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company's stock worth $92,170,000 after buying an additional 116,783 shares in the last quarter. Thames Capital Management LLC lifted its stake in shares of Argan by 286.8% during the 4th quarter. Thames Capital Management LLC now owns 117,384 shares of the construction company's stock worth $16,086,000 after purchasing an additional 87,038 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Argan by 80.3% during the fourth quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company's stock worth $25,549,000 after purchasing an additional 83,039 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Argan by 37.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company's stock valued at $40,475,000 after purchasing an additional 80,844 shares during the period. Finally, American Century Companies Inc. increased its stake in Argan by 18.1% in the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock valued at $65,869,000 after purchasing an additional 73,654 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.

Insider Buying and Selling at Argan

In other news, CFO Richard H. Deily sold 1,565 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total value of $238,380.80. Following the completion of the transaction, the chief financial officer now owns 7,802 shares of the company's stock, valued at approximately $1,188,400.64. This represents a 16.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Peter W. Getsinger sold 5,000 shares of Argan stock in a transaction dated 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 owns 11,496 shares in the company, valued at approximately $1,667,264.88. This represents a 30.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,857 shares of company stock worth $1,308,133 in the last ninety days. 11.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Argan Price Performance

AGX traded up $1.60 during trading hours on Monday, reaching $165.37. 61,911 shares of the stock traded hands, compared to its average volume of 305,491. Argan, Inc. has a fifty-two week low of $60.98 and a fifty-two week high of $191.46. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 34.41 and a beta of 0.41. The firm's fifty day simple moving average is $132.03 and its two-hundred day simple moving average is $142.00.

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

Argan Dividend Announcement

The business 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. The ex-dividend date was Tuesday, April 22nd. This represents a $1.50 annualized dividend and a yield of 0.91%. Argan's dividend payout ratio is presently 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.