EAM Global Investors LLC Trims Stock Holdings in Argan, Inc. (NYSE:AGX)

EAM Global Investors LLC reduced its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,573 shares of the construction company's stock after selling 4,682 shares during the quarter. Argan accounts for approximately 1.1% of EAM Global Investors LLC's holdings, making the stock its 15th biggest position. EAM Global Investors LLC owned about 0.34% of Argan worth $6,382,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

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 report on Friday, March 28th.

Argan Stock Down 9.2 %

AGX stock traded down $13.40 during trading on Monday, reaching $132.60. The company's stock had a trading volume of 170,011 shares, compared to its average volume of 296,122. Argan, Inc. has a 1 year low of $60.03 and a 1 year high of $191.46. The company's fifty day moving average is $130.57 and its 200-day moving average is $139.72. The company has a market capitalization of $1.81 billion, a P/E ratio of 27.74 and a beta of 0.45.

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 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 analysts' expectations of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company's quarterly revenue was up 41.3% compared to the same quarter last year.

Argan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's dividend payout ratio (DPR) is 24.55%.

Insider Activity at Argan

In other news, Director Peter W. Getsinger sold 5,000 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total value of $725,150.00. Following the completion of the sale, the director now owns 11,496 shares in the company, valued at approximately $1,667,264.88. This trade represents a 30.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.85% of the stock is currently 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.