Thoroughbred Financial Services LLC Has $1.15 Million Stock Position in Argan, Inc. (NYSE:AGX)

Thoroughbred Financial Services LLC boosted its position in Argan, Inc. (NYSE:AGX - Free Report) by 34.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,411 shares of the construction company's stock after acquiring an additional 2,150 shares during the quarter. Thoroughbred Financial Services LLC owned 0.06% of Argan worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AGX. Wellington Management Group LLP lifted its position in Argan by 81.8% during the 3rd quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company's stock worth $92,408,000 after acquiring an additional 409,948 shares in the last quarter. Vanguard Group Inc. lifted its position 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 in the last quarter. American Century Companies Inc. grew its holdings in Argan by 18.1% during the 4th quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock valued at $65,869,000 after purchasing an additional 73,654 shares in the last quarter. State Street Corp increased its stake in Argan by 4.8% during the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company's stock worth $35,905,000 after buying an additional 16,055 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position 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 buying an additional 80,844 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.

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Argan Stock Up 7.7 %

NYSE AGX traded up $10.66 on Friday, hitting $148.66. The stock had a trading volume of 421,659 shares, compared to its average volume of 291,998. The company's 50-day moving average is $131.41 and its two-hundred day moving average is $137.87. Argan, Inc. has a one year low of $54.80 and a one year high of $191.46. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 31.10 and a beta of 0.45.

Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $232.47 million for the quarter, compared to analysts' expectations of $197.50 million. The firm's quarterly revenue was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd will be given a $0.375 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.01%. Argan's dividend payout ratio (DPR) is 24.55%.

Insider Buying and Selling

In other news, Director Peter W. Getsinger sold 7,385 shares of Argan stock in a transaction on 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 transaction, the director now owns 11,792 shares in the company, 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.

Analysts Set New Price Targets

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