Brevan Howard Capital Management LP Takes Position in Argan, Inc. (NYSE:AGX)

Brevan Howard Capital Management LP acquired a new stake in Argan, Inc. (NYSE:AGX - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 8,392 shares of the construction company's stock, valued at approximately $1,150,000. Brevan Howard Capital Management LP owned 0.06% of Argan as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Spire Wealth Management bought a new position in shares of Argan during the fourth quarter worth about $26,000. Farther Finance Advisors LLC acquired a new stake in shares of Argan in the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC bought a new stake in shares of Argan in the fourth quarter worth $35,000. Truvestments Capital LLC acquired a new position in Argan during the fourth quarter worth $57,000. Finally, Federated Hermes Inc. grew its position in Argan by 1,123.5% in the fourth quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock valued at $57,000 after purchasing an additional 382 shares in the last quarter. 79.43% of the stock is owned by institutional investors.

Argan Trading Down 1.1 %

NYSE:AGX opened at $167.58 on Thursday. The stock has a market capitalization of $2.29 billion, a PE ratio of 35.06 and a beta of 0.42. Argan, Inc. has a 1-year low of $63.53 and a 1-year high of $191.46. The firm has a fifty day simple moving average of $134.34 and a 200 day simple moving average of $142.62.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings data 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 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 the consensus estimate of $197.50 million. The company's revenue for the quarter was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

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

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 objective for the company in a research note on Friday, March 28th.

Insider Buying and Selling

In related news, CFO Richard H. Deily sold 1,565 shares of the company'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 represents a 16.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter W. Getsinger sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was 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 of the company's stock, valued at $1,667,264.88. This trade represents a 30.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,857 shares of company stock valued at $1,308,133. 11.85% of the stock is owned by insiders.

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.

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