EAM Investors LLC Sells 16,166 Shares of Argan, Inc. (NYSE:AGX)

EAM Investors LLC reduced its stake in shares of Argan, Inc. (NYSE:AGX - Free Report) by 42.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,168 shares of the construction company's stock after selling 16,166 shares during the quarter. EAM Investors LLC owned about 0.16% of Argan worth $3,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Townsquare Capital LLC bought a new stake in shares of Argan in the fourth quarter worth about $389,000. Raymond James Financial Inc. purchased a new stake in shares of Argan during the 4th quarter worth approximately $8,002,000. Advisory Services Network LLC bought a new position in shares of Argan during the 4th quarter valued at approximately $287,000. Abacus FCF Advisors LLC grew its holdings in shares of Argan by 46.5% in the fourth quarter. Abacus FCF Advisors LLC now owns 42,572 shares of the construction company's stock valued at $5,834,000 after purchasing an additional 13,516 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Argan by 21.0% in the fourth quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company's stock worth $92,170,000 after purchasing an additional 116,783 shares during the last quarter. Institutional investors own 79.43% of the company's stock.

Argan Price Performance

Shares of NYSE:AGX traded up $4.19 during trading on Tuesday, hitting $133.73. The company had a trading volume of 70,836 shares, compared to its average volume of 448,748. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 27.96 and a beta of 0.45. The company has a fifty day simple moving average of $130.17 and a two-hundred day simple moving average of $139.87. Argan, Inc. has a one year low of $60.03 and a one year high of $191.46.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $197.50 million. Argan's revenue was up 41.3% compared to the same quarter last year.

Argan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.50 annualized dividend and a yield of 1.12%. Argan's payout ratio is 24.55%.

Analyst Ratings Changes

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 report on Friday, March 28th.

Insider Buying and Selling

In other news, Director Peter W. Getsinger sold 5,000 shares of the company'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 transaction, the director now owns 11,496 shares of the company's stock, valued at approximately $1,667,264.88. This represents a 30.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 11.85% of the stock is currently owned by corporate insiders.

Argan Company 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.