1,792 Shares in Argan, Inc. (NYSE:AGX) Purchased by Tema Etfs LLC

Tema Etfs LLC acquired a new stake in shares of Argan, Inc. (NYSE:AGX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,792 shares of the construction company's stock, valued at approximately $246,000.

Other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in Argan by 18.1% in the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock worth $65,869,000 after acquiring an additional 73,654 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Argan by 70.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company's stock worth $3,836,000 after buying an additional 15,681 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Argan by 28.5% during the 4th quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock worth $2,400,000 after buying an additional 3,880 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Argan by 95.7% during the 4th quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock worth $897,000 after buying an additional 3,199 shares during the period. Finally, Thoroughbred Financial Services LLC boosted its holdings in shares of Argan by 34.3% during the 4th quarter. Thoroughbred Financial Services LLC now owns 8,411 shares of the construction company's stock worth $1,152,000 after buying an additional 2,150 shares during the period. 79.43% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Richard H. Deily sold 1,565 shares of the stock in a transaction on Wednesday, April 30th. The shares were 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 in the company, valued at approximately $1,188,400.64. This represents a 16.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter W. Getsinger sold 5,000 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total transaction of $725,150.00. Following the completion of the transaction, the director now owns 11,496 shares of the company's stock, valued at approximately $1,667,264.88. This represents a 30.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,857 shares of company stock worth $1,308,133. 6.69% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Lake Street Capital raised shares of Argan from a "hold" rating to a "buy" rating and set a $150.00 price objective for the company in a report on Friday, March 28th.

Argan Price Performance

Shares of NYSE AGX traded up $3.24 during trading hours on Wednesday, hitting $192.94. 501,137 shares of the stock were exchanged, compared to its average volume of 317,224. The firm has a market capitalization of $2.63 billion, a P/E ratio of 40.36 and a beta of 0.42. Argan, Inc. has a one year low of $63.53 and a one year high of $197.58. The company's 50 day moving average is $145.85 and its 200 day moving average is $145.87.

Argan (NYSE:AGX - Get Free Report) last released its earnings results on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, beating the consensus estimate 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 net margin of 8.20% and a return on equity of 21.66%. The firm's revenue was up 41.3% on a year-over-year basis.

Argan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.78%. The ex-dividend date was Tuesday, April 22nd. Argan's payout ratio is currently 24.55%.

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.