Argan, Inc. (NYSE:AGX) Shares Sold by Shaker Investments LLC OH

Shaker Investments LLC OH lowered its position in Argan, Inc. (NYSE:AGX - Free Report) by 48.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,229 shares of the construction company's stock after selling 7,624 shares during the period. Shaker Investments LLC OH owned approximately 0.06% of Argan worth $1,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of AGX. Sapient Capital LLC increased its stake in shares of Argan by 9.0% in the fourth quarter. Sapient Capital LLC now owns 51,393 shares of the construction company's stock worth $7,043,000 after acquiring an additional 4,235 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new stake in Argan during the 4th quarter worth about $272,000. Savant Capital LLC raised its stake in shares of Argan by 1.3% during the 4th quarter. Savant Capital LLC now owns 10,552 shares of the construction company's stock valued at $1,446,000 after buying an additional 133 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of Argan in the 4th quarter valued at about $8,241,000. Finally, Meritage Portfolio Management boosted its stake in shares of Argan by 7.4% in the fourth quarter. Meritage Portfolio Management now owns 5,147 shares of the construction company's stock worth $705,000 after buying an additional 354 shares during the last quarter. 79.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total value of $1,220,666.65. Following the completion of the sale, the director now owns 11,792 shares in the company, valued at approximately $1,949,099.68. This represents a 38.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,367 shares in the company, valued at $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,185 shares of company stock worth $3,105,359 over the last quarter. 11.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on AGX. Lake Street Capital lowered Argan from a "buy" rating to a "hold" rating and upped their price objective for the stock from $85.00 to $150.00 in a research report on Tuesday, December 3rd. StockNews.com cut shares of Argan from a "buy" rating to a "hold" rating in a report on Tuesday, October 29th. Finally, CJS Securities reissued a "market perform" rating and set a $150.00 target price on shares of Argan in a research note on Friday, December 6th.

Argan Stock Down 0.1 %

Shares of Argan stock traded down $0.19 on Friday, reaching $147.95. The company's stock had a trading volume of 103,632 shares, compared to its average volume of 502,936. Argan, Inc. has a 52-week low of $45.93 and a 52-week high of $191.46. The company has a market capitalization of $2.01 billion, a P/E ratio of 30.96 and a beta of 0.56. The stock has a 50-day moving average price of $150.79 and a 200-day moving average price of $123.49.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.74. The company had revenue of $257.00 million during the quarter, compared to analysts' expectations of $225.60 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm's quarterly revenue was up 56.9% compared to the same quarter last year.

Argan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.01%. Argan's payout ratio is currently 31.38%.

About Argan

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.