Capital Fund Management S.A. Invests $4.37 Million in Argan, Inc. $AGX

Key Points

• Capital Fund Management S.A. has recently acquired a new position in Argan, Inc., purchasing 33,311 shares valued at approximately $4.37 million, which represents a 0.24% ownership stake.
• Several institutional investors, including Larson Financial Group and Caitong International Asset Management, have increased their stakes in Argan significantly, indicating strong interest in the company's stock.
• Wall Street analysts have mixed opinions on Argan, with a consensus rating of "Hold" and a price target of $202.00, while recent earnings showed a remarkable increase in EPS, surpassing forecasts by $0.51.

Capital Fund Management S.A. acquired a new stake in shares of Argan, Inc. (NYSE:AGX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 33,311 shares of the construction company's stock, valued at approximately $4,369,000. Capital Fund Management S.A. owned approximately 0.24% of Argan as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AGX. NewEdge Advisors LLC lifted its holdings in Argan by 1,567.8% in the 4th quarter. NewEdge Advisors LLC now owns 2,435 shares of the construction company's stock worth $334,000 after purchasing an additional 2,289 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Argan during the 4th quarter valued at approximately $178,000. First Trust Advisors LP bought a new position in shares of Argan during the 4th quarter valued at approximately $4,195,000. MetLife Investment Management LLC increased its position in shares of Argan by 7.1% during the 4th quarter. MetLife Investment Management LLC now owns 7,581 shares of the construction company's stock valued at $1,039,000 after purchasing an additional 503 shares during the last quarter. Finally, MML Investors Services LLC bought a new position in Argan in the 4th quarter valued at $1,150,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AGX has been the topic of several research analyst reports. Lake Street Capital upped their price objective on Argan from $150.00 to $236.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Kepler Capital Markets downgraded Argan from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 28th. Wall Street Zen cut Argan from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. initiated coverage on Argan in a report on Monday, July 21st. They issued a "neutral" rating and a $220.00 target price for the company. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $202.00.

Insider Activity at Argan

In other news, CEO Charles Edwin Iv Collins sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $245.00, for a total value of $1,225,000.00. Following the completion of the sale, the chief executive officer directly owned 14,506 shares in the company, valued at $3,553,970. The trade was a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rainer H. Bosselmann sold 13,728 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $221.58, for a total value of $3,041,850.24. Following the completion of the sale, the director owned 196,723 shares of the company's stock, valued at $43,589,882.34. This trade represents a 6.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,564 shares of company stock valued at $21,046,366 in the last 90 days. 6.69% of the stock is currently owned by corporate insiders.

Argan Price Performance

Argan stock traded up $15.37 during midday trading on Thursday, reaching $242.24. The company's stock had a trading volume of 348,653 shares, compared to its average volume of 425,004. The stock's 50-day simple moving average is $219.82 and its 200-day simple moving average is $178.78. The stock has a market capitalization of $3.30 billion, a P/E ratio of 33.97 and a beta of 0.59. Argan, Inc. has a 52-week low of $69.81 and a 52-week high of $253.79.

Argan (NYSE:AGX - Get Free Report) last announced 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. The business had revenue of $193.66 million for the quarter, compared to analyst estimates of $193.75 million. Argan had a return on equity of 29.61% and a net margin of 11.00%.The company's revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 earnings per share.

Argan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 23rd were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, July 23rd. Argan's dividend payout ratio (DPR) is currently 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.