8,389 Shares in Argan, Inc. (NYSE:AGX) Bought by MML Investors Services LLC

MML Investors Services LLC bought a new stake in Argan, Inc. (NYSE:AGX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,389 shares of the construction company's stock, valued at approximately $1,150,000. MML Investors Services LLC owned 0.06% of Argan as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Spire Wealth Management acquired a new position in shares of Argan in the 4th quarter valued at about $26,000. Farther Finance Advisors LLC acquired a new position in Argan in the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC bought a new position in shares of Argan during the 4th quarter worth approximately $35,000. Truvestments Capital LLC acquired a new stake in shares of Argan during the 4th quarter worth approximately $57,000. Finally, Federated Hermes Inc. increased its stake in shares of Argan by 1,123.5% in the 4th quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock valued at $57,000 after acquiring an additional 382 shares in the last quarter. Institutional investors own 79.43% of the company's stock.

Insider Transactions at Argan

In related news, Director Peter W. Getsinger sold 5,000 shares of Argan stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total value of $725,150.00. Following the completion of the transaction, the director now directly owns 11,496 shares in the company, valued at approximately $1,667,264.88. The trade was a 30.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard H. Deily sold 1,565 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold 8,857 shares of company stock worth $1,308,133 in the last ninety days. Company insiders own 11.85% of the company's stock.

Argan Stock Up 2.3 %

AGX stock traded up $3.76 during mid-day trading on Tuesday, reaching $169.14. 149,945 shares of the company traded hands, compared to its average volume of 430,632. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 35.36 and a beta of 0.41. Argan, Inc. has a fifty-two week low of $63.53 and a fifty-two week high of $191.46. The firm's 50 day moving average price is $132.70 and its 200 day moving average price is $142.26.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $197.50 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. Argan's quarterly revenue was up 41.3% compared to the same quarter last year.

Argan Announces Dividend

The firm also recently announced 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. This represents a $1.50 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Tuesday, April 22nd. Argan's dividend payout ratio is presently 24.55%.

Analyst Upgrades and Downgrades

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

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.