Argan, Inc. (NYSE:AGX) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lowered its stake in Argan, Inc. (NYSE:AGX - Free Report) by 79.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 24,241 shares of the construction company's stock after selling 93,794 shares during the period. Marshall Wace LLP owned 0.18% of Argan worth $3,322,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC lifted its position in shares of Argan by 1,567.8% during the fourth quarter. NewEdge Advisors LLC now owns 2,435 shares of the construction company's stock worth $334,000 after purchasing an additional 2,289 shares during the last quarter. Townsquare Capital LLC bought a new position in shares of Argan during the fourth quarter worth about $389,000. Raymond James Financial Inc. bought a new position in shares of Argan during the fourth quarter worth about $8,002,000. Advisory Services Network LLC bought a new position in shares of Argan during the fourth quarter worth about $287,000. Finally, Abacus FCF Advisors LLC lifted its position in shares of Argan by 46.5% during the fourth quarter. Abacus FCF Advisors LLC now owns 42,572 shares of the construction company's stock worth $5,834,000 after purchasing an additional 13,516 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company's stock.

Insiders Place Their Bets

In other Argan news, Director Peter W. Getsinger sold 5,000 shares of the firm's 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 sale, the director now owns 11,496 shares in the company, valued at approximately $1,667,264.88. This trade represents a 30.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Lake Street Capital raised shares of Argan from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a research report on Friday, March 28th.

Argan Trading Up 0.9 %

NYSE AGX traded up $1.43 during trading hours on Tuesday, reaching $153.31. The company's stock had a trading volume of 156,653 shares, compared to its average volume of 300,938. The business has a 50-day simple moving average of $130.03 and a 200 day simple moving average of $141.05. Argan, Inc. has a 52 week low of $60.03 and a 52 week high of $191.46. The stock has a market cap of $2.09 billion, a PE ratio of 32.07 and a beta of 0.45.

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. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm had revenue of $232.47 million for the quarter, compared to analysts' expectations of $197.50 million. The company's quarterly revenue was up 41.3% compared to the same quarter last year.

Argan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 yield of 0.98%. Argan's dividend payout ratio is currently 24.55%.

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.