Argan, Inc. (NYSE:AGX) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. trimmed its position in Argan, Inc. (NYSE:AGX - Free Report) by 21.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,303 shares of the construction company's stock after selling 3,718 shares during the quarter. Stratos Wealth Partners LTD. owned approximately 0.10% of Argan worth $1,745,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC acquired a new position in shares of Argan in the 4th quarter valued at approximately $32,000. McIlrath & Eck LLC boosted its stake 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 buying an additional 302 shares in the last quarter. Truvestments Capital LLC bought a new position in Argan in the fourth quarter valued at about $57,000. Federated Hermes Inc. raised its position in shares of Argan by 1,123.5% during the fourth quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock worth $57,000 after acquiring an additional 382 shares during the last quarter. Finally, Amundi grew its stake in Argan by 8.6% during the fourth quarter. Amundi now owns 859 shares of the construction company's stock worth $118,000 after purchasing an additional 68 shares during the period. 79.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on AGX shares. Kepler Capital Markets lowered Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Lake Street Capital raised 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.

Insider Transactions at Argan

In other Argan news, Director Cynthia Flanders sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $220.47, for a total transaction of $3,307,050.00. Following the completion of the sale, the director owned 33,428 shares in the company, valued at approximately $7,369,871.16. The trade was a 30.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter W. Getsinger sold 5,000 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total transaction of $725,150.00. Following the sale, the director directly owned 11,496 shares in the company, valued at approximately $1,667,264.88. This trade represents a 30.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,404 shares of company stock worth $18,946,537. Corporate insiders own 6.69% of the company's stock.

Argan Stock Performance

Shares of NYSE AGX traded up $2.72 during midday trading on Tuesday, reaching $223.45. 502,003 shares of the stock were exchanged, compared to its average volume of 355,331. Argan, Inc. has a twelve month low of $63.53 and a twelve month high of $246.60. The stock has a market capitalization of $3.05 billion, a P/E ratio of 31.34 and a beta of 0.54. The company has a 50 day simple moving average of $203.45 and a 200 day simple moving average of $162.75.

Argan (NYSE:AGX - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The construction company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.51. The company had revenue of $193.66 million during the quarter, compared to the consensus estimate of $193.75 million. Argan had a net margin of 11.00% and a return on equity of 29.61%. Argan's revenue for the quarter was up 22.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 earnings per share.

Argan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 23rd will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, July 23rd. Argan's dividend payout ratio is currently 21.04%.

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.