Caxton Associates LP Invests $1.56 Million in Argan, Inc. (NYSE:AGX)

Caxton Associates LP purchased a new position in shares of Argan, Inc. (NYSE:AGX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,362 shares of the construction company's stock, valued at approximately $1,557,000. Caxton Associates LP owned 0.08% of Argan as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Amundi lifted its holdings in Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company's stock worth $118,000 after buying an additional 68 shares in the last quarter. Savant Capital LLC grew its stake in Argan by 1.3% during the 4th 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 in the last quarter. Cerity Partners LLC raised its position in Argan by 3.7% in the 4th quarter. Cerity Partners LLC now owns 4,042 shares of the construction company's stock valued at $545,000 after purchasing an additional 144 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Argan by 0.6% in the 4th 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 during the period. Finally, Spire Wealth Management acquired a new position in shares of Argan during the fourth quarter worth about $26,000. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Argan Stock Performance

NYSE:AGX traded down $1.20 during trading hours on Friday, hitting $169.91. The company's stock had a trading volume of 225,608 shares, compared to its average volume of 309,780. Argan, Inc. has a 52-week low of $63.53 and a 52-week high of $191.46. The company has a market capitalization of $2.32 billion, a PE ratio of 35.55 and a beta of 0.42. The business's 50-day moving average is $136.32 and its two-hundred day moving average is $143.38.

Argan (NYSE:AGX - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share (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 during the quarter, compared to the consensus estimate of $197.50 million. The business's revenue for the quarter 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. Shareholders of record on Tuesday, April 22nd were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.88%. The ex-dividend date was Tuesday, April 22nd. Argan's dividend payout ratio (DPR) is 24.55%.

Insider Transactions at Argan

In related 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 transaction, the chief financial officer now directly owns 7,802 shares of the company's stock, valued at approximately $1,188,400.64. This trade represents a 16.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter W. Getsinger sold 2,292 shares of Argan stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $150.35, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,857 shares of company stock worth $1,308,133 in the last three months. Company insiders own 11.85% of the company's stock.

Analyst Ratings Changes

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

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.