Argan, Inc. (NYSE:AGX) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Argan, Inc. (NYSE:AGX - Free Report) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,371 shares of the construction company's stock after buying an additional 1,801 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.23% of Argan worth $4,299,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Spire Wealth Management acquired a new stake in Argan during the fourth quarter worth about $26,000. Farther Finance Advisors LLC acquired a new stake in shares of Argan during the fourth quarter valued at about $32,000. Global Retirement Partners LLC acquired a new stake in shares of Argan during the fourth quarter valued at about $35,000. Truvestments Capital LLC acquired a new stake in shares of Argan during the fourth quarter valued at about $57,000. Finally, Federated Hermes Inc. increased 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 valued at $57,000 after acquiring an additional 382 shares during the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Kepler Capital Markets cut shares of Argan from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 28th. Lake Street Capital lifted their price objective on shares of Argan from $150.00 to $236.00 and gave the company a "buy" rating in a report on Thursday.

Insider Transactions at Argan

In other news, Director Peter W. Getsinger sold 2,292 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $150.35, for a total transaction of $344,602.20. Following the completion of the sale, the director now owns 9,500 shares in the company, valued at approximately $1,428,325. The trade was a 19.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard H. Deily sold 1,565 shares of Argan stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $152.32, for a total transaction of $238,380.80. Following the completion of the transaction, the chief financial officer now directly owns 7,802 shares in the company, valued at $1,188,400.64. The trade was 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. 6.69% of the stock is currently owned by insiders.

Argan Price Performance

Shares of AGX stock traded up $17.99 during trading on Thursday, reaching $235.79. The company's stock had a trading volume of 1,030,954 shares, compared to its average volume of 330,911. Argan, Inc. has a 1-year low of $63.53 and a 1-year high of $243.42. The stock's 50-day moving average price is $164.44 and its 200 day moving average price is $150.29. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 49.33 and a beta of 0.42.

Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The construction company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 8.20% and a return on equity of 21.66%. The firm's quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share.

Argan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $1.50 annualized dividend and a dividend yield of 0.64%. Argan's dividend payout ratio 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.