Argan, Inc. (NYSE:AGX) Stock Holdings Increased by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,261 shares of the construction company's stock after purchasing an additional 5,855 shares during the period. Franklin Resources Inc. owned about 0.21% of Argan worth $3,873,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Spire Wealth Management purchased a new stake in shares of Argan during the fourth quarter worth about $26,000. Farther Finance Advisors LLC bought a new stake in shares of Argan in the fourth quarter worth $32,000. Global Retirement Partners LLC acquired a new stake in Argan in the fourth quarter valued at $35,000. Truvestments Capital LLC bought a new position in Argan during the 4th quarter valued at $57,000. Finally, KBC Group NV acquired a new position in Argan during the 4th quarter worth $93,000. 79.43% of the stock is owned by institutional investors and hedge funds.

Argan Trading Down 1.6 %

Argan stock traded down $2.42 during mid-day trading on Tuesday, reaching $145.19. The company's stock had a trading volume of 300,813 shares, compared to its average volume of 291,516. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 30.37 and a beta of 0.45. Argan, Inc. has a twelve month low of $58.00 and a twelve month high of $191.46. The business has a 50 day moving average price of $131.50 and a 200-day moving average price of $138.47.

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Argan (NYSE:AGX - Get Free Report) last issued its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $1.07. The firm had revenue of $232.47 million for the quarter, compared to analysts' expectations of $197.50 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company's quarterly revenue was up 41.3% compared to the same quarter last year.

Argan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd will be issued 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 1.03%. Argan's dividend payout ratio (DPR) is presently 24.55%.

Analyst Ratings Changes

Separately, Lake Street Capital upgraded Argan from a "hold" rating to a "buy" rating and set a $150.00 price target for the company 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.