Argan, Inc. (NYSE:AGX) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 11,180.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,640 shares of the construction company's stock after purchasing an additional 5,590 shares during the quarter. GAMMA Investing LLC's holdings in Argan were worth $7,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its holdings in Argan by 4.9% in the fourth quarter. California State Teachers Retirement System now owns 12,560 shares of the construction company's stock valued at $1,721,000 after purchasing an additional 585 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Argan by 22.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,138 shares of the construction company's stock valued at $430,000 after purchasing an additional 566 shares in the last quarter. Cim LLC acquired a new position in Argan in the fourth quarter valued at approximately $286,000. McIlrath & Eck LLC boosted its holdings in Argan by 419.4% in the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock valued at $51,000 after purchasing an additional 302 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Argan by 6.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 31,371 shares of the construction company's stock valued at $4,299,000 after purchasing an additional 1,801 shares in the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Argan

In other news, CFO Richard H. Deily sold 1,565 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total transaction of $238,380.80. Following the completion of the sale, the chief financial officer now owns 7,802 shares in the company, valued at $1,188,400.64. This represents a 16.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter W. Getsinger sold 2,292 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $150.35, for a total value of $344,602.20. Following the sale, the director now owns 9,500 shares of the company's stock, valued at $1,428,325. This trade represents a 19.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,857 shares of company stock worth $1,308,133 over the last 90 days. 6.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

AGX has been the subject of a number of research analyst reports. Lake Street Capital upped their price target on Argan from $150.00 to $236.00 and gave the company a "buy" rating in a report on Thursday. Kepler Capital Markets cut Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th.

Argan Trading Up 3.3%

Shares of NYSE AGX opened at $243.01 on Monday. Argan, Inc. has a twelve month low of $63.53 and a twelve month high of $246.60. The stock has a 50 day moving average of $168.70 and a two-hundred day moving average of $151.64. The stock has a market cap of $3.31 billion, a P/E ratio of 50.84 and a beta of 0.55.

Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The construction company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.51. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company had revenue of $193.66 million during the quarter, compared to analysts' expectations of $193.75 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. The firm's revenue for the quarter was up 22.8% on a year-over-year basis.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Tuesday, April 22nd. Argan's dividend payout ratio (DPR) is presently 21.04%.

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.

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