Soros Capital Management LLC Makes New $10.34 Million Investment in Argan, Inc. (NYSE:AGX)

Soros Capital Management LLC bought a new position in shares of Argan, Inc. (NYSE:AGX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 75,450 shares of the construction company's stock, valued at approximately $10,340,000. Argan makes up approximately 1.6% of Soros Capital Management LLC's portfolio, making the stock its 22nd largest position. Soros Capital Management LLC owned 0.56% of Argan at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of Argan by 18.1% during the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock worth $65,869,000 after purchasing an additional 73,654 shares in the last quarter. JPMorgan Chase & Co. increased its position in Argan by 70.8% during the third quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company's stock worth $3,836,000 after buying an additional 15,681 shares during the period. Principal Financial Group Inc. purchased a new stake in Argan in the third quarter valued at approximately $1,373,000. Victory Capital Management Inc. boosted its holdings in shares of Argan by 28.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock valued at $2,400,000 after acquiring an additional 3,880 shares during the period. Finally, Intech Investment Management LLC grew its position in shares of Argan by 95.7% during the fourth quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company's stock worth $897,000 after acquiring an additional 3,199 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.

Argan Trading Up 1.7 %

Shares of NYSE AGX traded up $2.46 during midday trading on Friday, reaching $151.12. 243,122 shares of the company were exchanged, compared to its average volume of 299,702. The stock has a market cap of $2.06 billion, a P/E ratio of 31.61 and a beta of 0.45. Argan, Inc. has a 1 year low of $60.03 and a 1 year high of $191.46. The stock has a fifty day simple moving average of $129.74 and a 200 day simple moving average of $140.10.

Argan (NYSE:AGX - Get Free Report) last announced its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.07. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company had revenue of $232.47 million for the quarter, compared to the consensus estimate of $197.50 million. The firm's revenue for the quarter 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. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.375 per share. 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 0.99%. Argan's payout ratio is currently 24.55%.

Insider Transactions at Argan

In related news, Director Peter W. Getsinger sold 5,000 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total transaction of $725,150.00. Following the completion of the transaction, the director now directly owns 11,496 shares of the company's stock, valued at $1,667,264.88. This represents a 30.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 11.85% of the company's stock.

Analyst Ratings Changes

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

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.