Deutsche Bank AG Raises Stake in Argan, Inc. (NYSE:AGX)

Deutsche Bank AG lifted its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 815.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,460 shares of the construction company's stock after purchasing an additional 68,995 shares during the period. Deutsche Bank AG owned 0.57% of Argan worth $10,615,000 as of its most recent SEC filing.

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

Insider Activity

In other Argan news, CFO Richard H. Deily sold 1,565 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter W. Getsinger sold 2,292 shares of Argan stock in a transaction 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 of the company's stock, valued at $1,428,325. The trade was a 19.44% decrease in their position. 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. 6.69% of the stock is currently owned by corporate insiders.

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

Argan Stock Up 0.2%

AGX stock traded up $0.39 during trading on Tuesday, reaching $189.37. The company's stock had a trading volume of 267,755 shares, compared to its average volume of 314,426. Argan, Inc. has a 1 year low of $63.53 and a 1 year high of $191.46. The company has a market capitalization of $2.58 billion, a P/E ratio of 39.62 and a beta of 0.42. The company's fifty day moving average is $144.34 and its 200-day moving average is $145.57.

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 during the quarter, compared to analyst estimates of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm's revenue was up 41.3% compared to the same quarter last year.

Argan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Tuesday, April 22nd. Argan's dividend payout ratio (DPR) is presently 24.55%.

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.