MML Investors Services LLC Makes New $1.15 Million Investment in Argan, Inc. (NYSE:AGX)

MML Investors Services LLC acquired a new position in shares of Argan, Inc. (NYSE:AGX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,389 shares of the construction company's stock, valued at approximately $1,150,000. MML Investors Services LLC owned approximately 0.06% of Argan at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Argan by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 843,583 shares of the construction company's stock worth $115,605,000 after purchasing an additional 16,784 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Argan by 21.0% in the fourth quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company's stock valued at $92,170,000 after acquiring an additional 116,783 shares during the last quarter. American Century Companies Inc. increased 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 purchasing an additional 73,654 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Argan by 37.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company's stock worth $40,475,000 after purchasing an additional 80,844 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Argan by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 292,956 shares of the construction company's stock valued at $40,156,000 after purchasing an additional 5,710 shares during the period. 79.43% of the stock is owned by institutional investors.

Argan Price Performance

Shares of Argan stock traded down $2.42 during trading hours on Wednesday, hitting $167.05. The company's stock had a trading volume of 90,981 shares, compared to its average volume of 306,150. Argan, Inc. has a 12 month low of $63.53 and a 12 month high of $191.46. The company has a market capitalization of $2.28 billion, a PE ratio of 34.95 and a beta of 0.42. The stock has a 50 day moving average of $133.59 and a 200 day moving average of $142.45.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $1.07. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm had revenue of $232.47 million for the quarter, compared to analyst estimates of $197.50 million. The company's revenue was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd were issued a $0.375 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.90%. Argan's dividend payout ratio (DPR) is 24.55%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Argan

In related news, CFO Richard H. Deily sold 1,565 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total transaction of $238,380.80. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total value of $725,150.00. Following the transaction, the director now directly owns 11,496 shares in the company, valued at $1,667,264.88. This trade represents a 30.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,857 shares of company stock valued at $1,308,133 over the last three months. Company insiders own 11.85% of the company's stock.

Argan 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.