Argan, Inc. (NYSE:AGX) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP lowered its stake in shares of Argan, Inc. (NYSE:AGX - Free Report) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,926 shares of the construction company's stock after selling 6,936 shares during the period. Two Sigma Investments LP owned 0.14% of Argan worth $2,594,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AGX. American Century Companies Inc. boosted its stake in shares of Argan by 18.1% in the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock valued at $65,869,000 after purchasing an additional 73,654 shares during the period. Victory Capital Management Inc. lifted its stake in Argan by 28.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock worth $2,400,000 after acquiring an additional 3,880 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Argan by 95.7% during the fourth quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock worth $897,000 after purchasing an additional 3,199 shares in the last quarter. Thoroughbred Financial Services LLC increased its holdings in shares of Argan by 34.3% in the 4th quarter. Thoroughbred Financial Services LLC now owns 8,411 shares of the construction company's stock valued at $1,152,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Nkcfo LLC purchased a new position in Argan in the fourth quarter valued at approximately $247,000. Hedge funds and other institutional investors own 79.43% of the company's stock.

Wall Street Analyst Weigh In

AGX has been the topic of several research reports. Kepler Capital Markets lowered Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. Lake Street Capital raised Argan from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a research report on Friday, March 28th.

Insider Transactions at Argan

In other news, Director Peter W. Getsinger sold 2,292 shares of Argan stock in a transaction on Monday, April 14th. The stock was sold at an average price of $150.35, for a total transaction of $344,602.20. Following the completion of the transaction, the director now owns 9,500 shares of the company's stock, valued at $1,428,325. The trade was a 19.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Richard H. Deily sold 1,565 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $152.32, for a total transaction 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 trade represents a 16.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,857 shares of company stock worth $1,308,133. Company insiders own 6.69% of the company's stock.

Argan Stock Performance

NYSE AGX traded down $1.21 during trading on Wednesday, reaching $217.51. The company's stock had a trading volume of 112,023 shares, compared to its average volume of 326,151. The business's fifty day moving average price is $162.86 and its 200-day moving average price is $149.83. Argan, Inc. has a twelve month low of $63.53 and a twelve month high of $222.37. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 45.51 and a beta of 0.42.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $1.07. The firm had revenue of $232.47 million for the quarter, compared to analyst estimates of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company's quarterly 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. Stockholders of record on Tuesday, April 22nd were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Tuesday, April 22nd. Argan's payout ratio is currently 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.