Entropy Technologies LP Has $721,000 Position in Argan, Inc. (NYSE:AGX)

Entropy Technologies LP boosted its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 108.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,104 shares of the construction company's stock after acquiring an additional 3,699 shares during the quarter. Entropy Technologies LP owned 0.05% of Argan worth $721,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Argan in the 3rd quarter valued at about $43,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Argan in the second quarter valued at approximately $41,000. Copeland Capital Management LLC acquired a new stake in shares of Argan in the third quarter valued at approximately $56,000. nVerses Capital LLC bought a new position in shares of Argan during the 3rd quarter worth approximately $91,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Argan during the 2nd quarter worth approximately $70,000. Institutional investors and hedge funds own 79.43% of the company's stock.

Argan Price Performance

Argan stock traded down $12.67 during trading hours on Friday, hitting $136.56. The company had a trading volume of 713,704 shares, compared to its average volume of 170,819. The firm has a market cap of $1.84 billion, a PE ratio of 42.97 and a beta of 0.49. The firm has a 50-day moving average of $116.73 and a 200 day moving average of $87.59. Argan, Inc. has a one year low of $39.74 and a one year high of $162.78.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.34. Argan had a return on equity of 14.80% and a net margin of 6.11%. The firm had revenue of $227.02 million for the quarter, compared to analysts' expectations of $191.05 million. The business's revenue was up 60.6% compared to the same quarter last year.

Argan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Wednesday, October 23rd. This is a positive change from Argan's previous quarterly dividend of $0.30. Argan's dividend payout ratio is presently 47.17%.

Insider Activity

In related news, Director Rainer H. Bosselmann sold 10,105 shares of Argan stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $130.10, for a total value of $1,314,660.50. Following the transaction, the director now directly owns 219,879 shares of the company's stock, valued at $28,606,257.90. This trade represents a 4.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William F. Leimkuhler sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $96.20, for a total transaction of $962,000.00. Following the transaction, the director now owns 35,852 shares of the company's stock, valued at approximately $3,448,962.40. This represents a 21.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,703 shares of company stock worth $4,257,794. Corporate insiders own 11.85% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Argan from a "buy" rating to a "hold" rating in a report on Tuesday, October 29th.

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.