3,225 Shares in Argan, Inc. (NYSE:AGX) Purchased by Bearing Point Capital LLC

Bearing Point Capital LLC acquired a new position in Argan, Inc. (NYSE:AGX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,225 shares of the construction company's stock, valued at approximately $442,000.

Several other large investors have also recently made changes to their positions in AGX. Amundi grew its position in Argan by 8.6% in the 4th quarter. Amundi now owns 859 shares of the construction company's stock valued at $118,000 after acquiring an additional 68 shares during the last quarter. Savant Capital LLC raised its holdings 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 worth $1,446,000 after purchasing an additional 133 shares during the last quarter. Cerity Partners LLC boosted its stake 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 last quarter. Hillsdale Investment Management Inc. increased its holdings in Argan by 0.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company's stock valued at $3,668,000 after buying an additional 150 shares in the last quarter. Finally, Spire Wealth Management purchased a new position in Argan during the fourth quarter worth approximately $26,000. 79.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Argan Stock Performance

Argan stock traded down $1.89 during midday trading on Wednesday, reaching $167.58. The company's stock had a trading volume of 335,444 shares, compared to its average volume of 307,744. The firm has a market capitalization of $2.29 billion, a PE ratio of 35.06 and a beta of 0.42. Argan, Inc. has a fifty-two week low of $63.53 and a fifty-two week high of $191.46. The stock's 50 day simple moving average is $133.59 and its 200 day simple moving average is $142.45.

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

Argan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Tuesday, April 22nd. Argan's dividend payout ratio is currently 24.55%.

Insider Activity

In other Argan news, Director Peter W. Getsinger sold 2,292 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $150.35, for a total value of $344,602.20. Following the transaction, the director now directly owns 9,500 shares of the company's stock, valued at $1,428,325. This represents a 19.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief financial officer now owns 7,802 shares in the company, valued at approximately $1,188,400.64. This trade represents a 16.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,857 shares of company stock valued at $1,308,133. Company insiders own 11.85% of the company's stock.

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.