Centiva Capital LP Has $433,000 Holdings in Argan, Inc. (NYSE:AGX)

Centiva Capital LP reduced its stake in shares of Argan, Inc. (NYSE:AGX - Free Report) by 54.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,162 shares of the construction company's stock after selling 3,710 shares during the period. Centiva Capital LP's holdings in Argan were worth $433,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Spire Wealth Management purchased a new position in shares of Argan during the fourth quarter valued at about $26,000. Farther Finance Advisors LLC purchased a new position in shares of Argan in the 4th quarter worth $32,000. Global Retirement Partners LLC bought a new stake in shares of Argan in the 4th quarter worth about $35,000. Truvestments Capital LLC bought a new stake in Argan during the 4th quarter valued at about $57,000. Finally, Federated Hermes Inc. increased its position in Argan by 1,123.5% during the 4th quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock valued at $57,000 after purchasing an additional 382 shares during the period. 79.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital raised 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.

Argan Trading Up 2.2%

AGX traded up $4.02 during midday trading on Friday, hitting $187.34. 169,222 shares of the company traded hands, compared to its average volume of 311,781. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 39.02 and a beta of 0.42. Argan, Inc. has a 52-week low of $63.53 and a 52-week high of $191.46. The business has a 50 day simple moving average of $141.33 and a two-hundred day simple moving average of $144.67.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $1.07. The business had revenue of $232.47 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis.

Argan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders 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 0.80%. The ex-dividend date of this dividend was Tuesday, April 22nd. Argan's payout ratio is presently 24.55%.

Insider Activity at Argan

In other 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 completion of the sale, the chief financial officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 5,000 shares of the 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 completion of the transaction, the director now directly owns 11,496 shares of the company's stock, valued at approximately $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 quarter, insiders sold 8,857 shares of company stock worth $1,308,133. 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.