Ieq Capital LLC Takes Position in Argan, Inc. (NYSE:AGX)

Ieq Capital LLC purchased a new position in Argan, Inc. (NYSE:AGX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,982 shares of the construction company's stock, valued at approximately $957,000. Ieq Capital LLC owned 0.05% of Argan as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spire Wealth Management purchased a new position in Argan in the 4th quarter worth approximately $26,000. Global Retirement Partners LLC purchased a new position in Argan in the 4th quarter worth approximately $35,000. KBC Group NV purchased a new position in shares of Argan during the 4th quarter valued at approximately $93,000. FMR LLC boosted its stake in shares of Argan by 68.2% during the 3rd quarter. FMR LLC now owns 1,033 shares of the construction company's stock valued at $105,000 after buying an additional 419 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Argan during the 3rd quarter valued at approximately $186,000. Hedge funds and other institutional investors own 79.43% of the company's stock.

Insider Buying and Selling

In other Argan news, CEO David Hibbert Watson sold 10,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $146.05, for a total value of $1,460,500.00. Following the sale, the chief executive officer now directly owns 51,291 shares of the company's stock, valued at $7,491,050.55. This trade represents a 16.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard H. Deily sold 2,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 9,367 shares in the company, valued at $1,405,050. This represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,185 shares of company stock worth $3,105,359 over the last ninety days. 11.85% of the stock is owned by insiders.

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Argan Price Performance

AGX traded up $4.79 during trading hours on Friday, hitting $130.18. 288,665 shares of the stock were exchanged, compared to its average volume of 468,407. The stock has a 50-day simple moving average of $149.19 and a 200-day simple moving average of $128.39. Argan, Inc. has a 12 month low of $46.15 and a 12 month high of $191.46. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 27.23 and a beta of 0.56.

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

Argan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 23rd were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, January 23rd. Argan's dividend payout ratio (DPR) is presently 31.38%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AGX shares. CJS Securities reiterated a "market perform" rating and set a $150.00 target price on shares of Argan in a research note on Friday, December 6th. Lake Street Capital cut Argan from a "buy" rating to a "hold" rating and increased their target price for the company from $85.00 to $150.00 in a research note on Tuesday, December 3rd.

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.