Argan, Inc. (NYSE:AGX) Shares Acquired by Man Group plc

Man Group plc increased its holdings in shares of Argan, Inc. (NYSE:AGX - Free Report) by 1,482.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,241 shares of the construction company's stock after purchasing an additional 34,887 shares during the period. Man Group plc owned 0.27% of Argan worth $5,104,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AGX. Amundi grew its holdings in shares of Argan by 8.6% during the fourth quarter. Amundi now owns 859 shares of the construction company's stock worth $118,000 after buying an additional 68 shares during the last quarter. Savant Capital LLC raised its stake in Argan by 1.3% during the 4th quarter. Savant Capital LLC now owns 10,552 shares of the construction company's stock valued at $1,446,000 after acquiring an additional 133 shares during the last quarter. Cerity Partners LLC lifted its position in 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 acquiring an additional 144 shares during the period. Hillsdale Investment Management Inc. grew its stake in shares of Argan by 0.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company's stock valued at $3,668,000 after purchasing an additional 150 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in shares of Argan in the 4th quarter valued at approximately $26,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Peter W. Getsinger sold 5,000 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total value of $725,150.00. Following the sale, the director now directly owns 11,496 shares in the company, valued at $1,667,264.88. This represents a 30.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard H. Deily sold 1,565 shares of Argan 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 transaction, the chief financial officer now owns 7,802 shares of the company's stock, valued at $1,188,400.64. This represents a 16.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,857 shares of company stock worth $1,308,133. 6.69% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Argan Trading Up 3.1%

Shares of Argan stock traded up $6.14 on Monday, reaching $203.11. 369,065 shares of the stock were exchanged, compared to its average volume of 320,138. The firm has a market capitalization of $2.77 billion, a PE ratio of 42.49 and a beta of 0.42. Argan, Inc. has a 1-year low of $63.53 and a 1-year high of $205.57. The business has a fifty day moving average price of $150.54 and a two-hundred day moving average price of $146.91.

Argan (NYSE:AGX - Get Free Report) last released its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $1.07. The company had revenue of $232.47 million for 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 revenue was up 41.3% compared to the same quarter last year.

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. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.74%. Argan's dividend payout ratio (DPR) is presently 24.55%.

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.