Soros Capital Management LLC Makes New $10.34 Million Investment in Argan, Inc. (NYSE:AGX)

Soros Capital Management LLC purchased a new position in Argan, Inc. (NYSE:AGX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 75,450 shares of the construction company's stock, valued at approximately $10,340,000. Argan comprises approximately 1.6% of Soros Capital Management LLC's holdings, making the stock its 22nd largest position. Soros Capital Management LLC owned 0.56% of Argan at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AGX. American Century Companies Inc. lifted its position in Argan by 18.1% during the 4th quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock worth $65,869,000 after acquiring an additional 73,654 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Argan by 70.8% during the third quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company's stock worth $3,836,000 after purchasing an additional 15,681 shares during the period. Principal Financial Group Inc. purchased a new stake in Argan in the third quarter valued at approximately $1,373,000. Victory Capital Management Inc. increased its holdings in Argan by 28.5% in the 4th quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock worth $2,400,000 after buying an additional 3,880 shares during the period. Finally, Intech Investment Management LLC raised its position in Argan by 95.7% during the 4th quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock worth $897,000 after buying an additional 3,199 shares during the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at Argan

In other news, Director Peter W. Getsinger sold 5,000 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total transaction of $725,150.00. Following the completion of the sale, the director now owns 11,496 shares of the company's stock, valued at $1,667,264.88. The trade was a 30.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.85% of the stock is owned by corporate insiders.

Argan Price Performance

NYSE:AGX traded up $2.46 during trading hours on Friday, reaching $151.12. The company had a trading volume of 243,122 shares, compared to its average volume of 300,571. Argan, Inc. has a 1-year low of $60.03 and a 1-year high of $191.46. The business's 50 day moving average price is $129.87 and its 200-day moving average price is $140.40. The firm has a market cap of $2.06 billion, a PE ratio of 31.61 and a beta of 0.45.

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 (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 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 will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's payout ratio is currently 24.55%.

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.