Public Employees Retirement Association of Colorado Buys Shares of 3,035 Argan, Inc. (NYSE:AGX)

Public Employees Retirement Association of Colorado purchased a new position in Argan, Inc. (NYSE:AGX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,035 shares of the construction company's stock, valued at approximately $416,000.

Other large investors also recently modified their holdings of the company. Amundi boosted its holdings in shares of Argan by 8.6% during the fourth quarter. Amundi now owns 859 shares of the construction company's stock valued at $118,000 after acquiring an additional 68 shares during the period. Savant Capital LLC grew its position in Argan by 1.3% in the 4th quarter. Savant Capital LLC now owns 10,552 shares of the construction company's stock worth $1,446,000 after purchasing an additional 133 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Argan by 3.7% in the fourth quarter. Cerity Partners LLC now owns 4,042 shares of the construction company's stock valued at $545,000 after purchasing an additional 144 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Argan by 0.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company's stock valued at $3,668,000 after buying an additional 150 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in shares of Argan during the fourth quarter worth approximately $26,000. 79.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upgraded Argan from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a research report on Friday, March 28th.

Argan Trading Up 1.1 %

AGX traded up $1.84 on Monday, reaching $165.61. The company had a trading volume of 252,287 shares, compared to its average volume of 306,271. The company has a market capitalization of $2.26 billion, a P/E ratio of 34.65 and a beta of 0.41. The company has a fifty day moving average of $132.03 and a 200-day moving average of $142.00. Argan, Inc. has a one year low of $60.98 and a one year high of $191.46.

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, beating the consensus estimate of $1.15 by $1.07. Argan had a net margin of 8.20% and a return on equity of 21.66%. The business had revenue of $232.47 million during the quarter, compared to analysts' expectations of $197.50 million. Argan's revenue for the quarter was up 41.3% compared to the same quarter last year.

Argan Announces Dividend

The firm 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 0.91%. Argan's dividend payout ratio (DPR) is 24.55%.

Insider Transactions at Argan

In other Argan news, CFO Richard H. Deily sold 1,565 shares of the company's 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 transaction, the chief financial officer now owns 7,802 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 5,000 shares of Argan stock in a transaction 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 completion of the transaction, the director now owns 11,496 shares in the company, valued at $1,667,264.88. The trade was a 30.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,857 shares of company stock valued at $1,308,133 in the last quarter. 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.