Bearing Point Capital LLC Purchases New Shares in Argan, Inc. (NYSE:AGX)

Bearing Point Capital LLC bought a new position in shares of Argan, Inc. (NYSE:AGX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,225 shares of the construction company's stock, valued at approximately $442,000.

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

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upgraded shares of 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.

Insider Buying and Selling

In related news, Director Peter W. Getsinger sold 2,292 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $150.35, for a total transaction of $344,602.20. Following the completion of the transaction, the director now directly owns 9,500 shares in the company, valued at $1,428,325. This represents a 19.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard H. Deily sold 1,565 shares of the business's 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 sale, the chief financial officer now owns 7,802 shares in the company, valued at $1,188,400.64. This represents a 16.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,857 shares of company stock worth $1,308,133 in the last ninety days. 11.85% of the stock is owned by insiders.

Argan Price Performance

AGX stock traded down $1.20 during midday trading on Friday, reaching $169.91. The company had a trading volume of 225,608 shares, 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 stock has a 50 day moving average price of $136.32 and a 200-day moving average price of $143.38. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 35.55 and a beta of 0.42.

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

Argan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd were issued a dividend of $0.375 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.88%. Argan's dividend payout ratio (DPR) is currently 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.