ExodusPoint Capital Management LP Grows Stock Holdings in Argan, Inc. (NYSE:AGX)

ExodusPoint Capital Management LP increased its stake in shares of Argan, Inc. (NYSE:AGX - Free Report) by 141.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,499 shares of the construction company's stock after purchasing an additional 3,803 shares during the quarter. ExodusPoint Capital Management LP's holdings in Argan were worth $891,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Spire Wealth Management acquired a new stake in Argan in the fourth quarter valued at approximately $26,000. Farther Finance Advisors LLC purchased a new stake in Argan during the 4th quarter worth about $32,000. Global Retirement Partners LLC purchased a new position in shares of Argan in the 4th quarter valued at about $35,000. Truvestments Capital LLC purchased a new stake in Argan during the fourth quarter worth approximately $57,000. Finally, KBC Group NV acquired a new stake in Argan during the fourth quarter worth approximately $93,000. Institutional investors and hedge funds own 79.43% of the company's stock.

Analysts Set New Price Targets

Separately, Lake Street Capital upgraded shares of Argan from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a research note on Friday, March 28th.

Argan Price Performance

Shares of NYSE:AGX traded up $2.42 on Wednesday, reaching $148.29. The company's stock had a trading volume of 78,736 shares, compared to its average volume of 290,888. Argan, Inc. has a 52-week low of $58.73 and a 52-week high of $191.46. The stock's 50-day moving average is $131.16 and its two-hundred day moving average is $138.52. The stock has a market capitalization of $2.02 billion, a P/E ratio of 31.02 and a beta of 0.45.

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 for the quarter, topping analysts' consensus estimates of $1.15 by $1.07. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company had revenue of $232.47 million during the quarter, compared to analysts' expectations of $197.50 million. The firm's revenue was up 41.3% compared to the same quarter last year.

Argan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's dividend payout ratio (DPR) is 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.