Trek Financial LLC Takes Position in Argan, Inc. (NYSE:AGX)

Trek Financial LLC purchased a new position in Argan, Inc. (NYSE:AGX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,308 shares of the construction company's stock, valued at approximately $316,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AGX. Wellington Management Group LLP grew its holdings in Argan by 81.8% in the 3rd quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company's stock valued at $92,408,000 after buying an additional 409,948 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Argan by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 843,583 shares of the construction company's stock valued at $115,605,000 after purchasing an additional 16,784 shares during the period. American Century Companies Inc. increased its position in Argan by 18.1% during 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 last quarter. State Street Corp raised its stake in Argan by 4.8% during the third quarter. State Street Corp now owns 353,984 shares of the construction company's stock worth $35,905,000 after purchasing an additional 16,055 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Argan by 37.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company's stock valued at $40,475,000 after purchasing an additional 80,844 shares during the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

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Argan Trading Up 7.7 %

NYSE AGX traded up $10.66 during trading hours on Friday, reaching $148.66. The company had a trading volume of 421,659 shares, compared to its average volume of 290,936. The stock has a market capitalization of $2.03 billion, a P/E ratio of 31.10 and a beta of 0.45. The stock has a 50-day moving average of $131.41 and a 200 day moving average of $138.14. Argan, Inc. has a 1-year low of $58.00 and a 1-year high of $191.46.

Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, topping 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 firm had revenue of $232.47 million for the quarter, compared to analyst estimates of $197.50 million. Argan's quarterly revenue was up 41.3% on a year-over-year basis.

Argan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's payout ratio is 24.55%.

Insider Activity at Argan

In other news, Director Peter W. Getsinger sold 7,385 shares of the business's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the completion of the transaction, the director now directly owns 11,792 shares of the company's stock, valued at approximately $1,949,099.68. The trade was a 38.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.