Hood River Capital Management LLC lessened its position in Argan, Inc. (NYSE:AGX - Free Report) by 66.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,902 shares of the construction company's stock after selling 61,861 shares during the quarter. Hood River Capital Management LLC owned approximately 0.23% of Argan worth $4,235,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Argan by 18.1% in the fourth 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 during the period. JPMorgan Chase & Co. lifted its holdings in Argan by 70.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company's stock worth $3,836,000 after buying an additional 15,681 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Argan in the 3rd quarter valued at approximately $1,373,000. Victory Capital Management Inc. grew its stake in shares of Argan by 28.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock worth $2,400,000 after acquiring an additional 3,880 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Argan by 95.7% during the fourth quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock worth $897,000 after acquiring an additional 3,199 shares during the period. Institutional investors and hedge funds own 79.43% of the company's stock.
Insider Buying and Selling
In other Argan news, Director Peter W. Getsinger sold 5,000 shares of the 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 transaction, the director now directly owns 11,496 shares in the company, valued at $1,667,264.88. This represents a 30.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.85% of the stock is owned by company insiders.
Argan Trading Up 1.7 %
NYSE:AGX traded up $2.46 during mid-day trading on Friday, hitting $151.12. The stock had a trading volume of 243,122 shares, compared to its average volume of 301,570. Argan, Inc. has a twelve month low of $60.03 and a twelve month high of $191.46. The company has a market capitalization of $2.06 billion, a PE ratio of 31.61 and a beta of 0.45. The stock has a 50-day simple moving average of $129.87 and a two-hundred day simple moving average of $140.60.
Argan (NYSE:AGX - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share (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 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% on a year-over-year basis.
Argan Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's dividend payout ratio (DPR) is presently 24.55%.
Wall Street Analyst Weigh In
Separately, Lake Street Capital upgraded 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.
Read Our Latest Stock Analysis on Argan
About Argan
(
Free Report)
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.
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