Argan, Inc. (NYSE:AGX) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 62.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,171 shares of the construction company's stock after selling 5,375 shares during the quarter. BNP Paribas Financial Markets' holdings in Argan were worth $435,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Amundi grew its holdings in shares of Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company's stock worth $118,000 after purchasing an additional 68 shares during the period. Savant Capital LLC grew its holdings in shares of Argan by 1.3% during the 4th quarter. Savant Capital LLC now owns 10,552 shares of the construction company's stock worth $1,446,000 after purchasing an additional 133 shares during the period. Cerity Partners LLC grew its holdings in shares of Argan by 3.7% during the 4th quarter. Cerity Partners LLC now owns 4,042 shares of the construction company's stock worth $545,000 after purchasing an additional 144 shares during the period. Hillsdale Investment Management Inc. grew its holdings in shares of Argan by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company's stock worth $3,668,000 after purchasing an additional 150 shares during the period. Finally, Spire Wealth Management purchased a new stake in shares of Argan during the 4th quarter worth about $26,000. Hedge funds and other institutional investors own 79.43% of the company's stock.

Insiders Place Their Bets

In other Argan 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 value of $725,150.00. Following the completion of the transaction, the director now owns 11,496 shares in the company, valued at $1,667,264.88. This represents a 30.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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 represents a 16.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,857 shares of company stock worth $1,308,133 in the last 90 days. 6.69% of the stock is owned by company insiders.

Argan Stock Performance

Shares of NYSE:AGX traded down $0.54 during trading on Thursday, reaching $209.16. 217,178 shares of the stock were exchanged, compared to its average volume of 321,473. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 43.74 and a beta of 0.42. Argan, Inc. has a 12-month low of $63.53 and a 12-month high of $217.50. The firm's 50-day moving average price is $155.76 and its 200 day moving average price is $148.11.

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, topping analysts' consensus estimates of $1.15 by $1.07. The firm 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 business's quarterly revenue was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Tuesday, April 22nd. Argan's dividend payout ratio is presently 24.55%.

Wall Street Analyst Weigh In

Separately, Lake Street Capital upgraded 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 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.