Stratos Wealth Partners LTD. Buys Shares of 17,021 Argan, Inc. (NYSE:AGX)

Stratos Wealth Partners LTD. purchased a new stake in shares of Argan, Inc. (NYSE:AGX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 17,021 shares of the construction company's stock, valued at approximately $2,333,000. Stratos Wealth Partners LTD. owned 0.13% of Argan at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Entropy Technologies LP grew its holdings in Argan by 108.6% in the third quarter. Entropy Technologies LP now owns 7,104 shares of the construction company's stock worth $721,000 after purchasing an additional 3,699 shares during the period. Truist Financial Corp grew its holdings in Argan by 76.2% in the second quarter. Truist Financial Corp now owns 12,552 shares of the construction company's stock worth $918,000 after purchasing an additional 5,430 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Argan by 70.8% in 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 in the last quarter. Principal Financial Group Inc. bought a new position in shares of Argan in the third quarter worth approximately $1,373,000. Finally, State Street Corp lifted its stake in shares of Argan by 4.8% in the third quarter. State Street Corp now owns 353,984 shares of the construction company's stock worth $35,905,000 after buying an additional 16,055 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company's stock.

Wall Street Analysts Forecast Growth

AGX has been the topic of several analyst reports. CJS Securities reiterated a "market perform" rating and issued a $150.00 target price on shares of Argan in a research note on Friday, December 6th. Lake Street Capital downgraded shares of Argan from a "buy" rating to a "hold" rating and upped their target price for the stock from $85.00 to $150.00 in a research note on Tuesday, December 3rd. Finally, StockNews.com downgraded shares of Argan from a "buy" rating to a "hold" rating in a research report on Tuesday, October 29th.

Insider Transactions at Argan

In other news, Director Peter W. Getsinger sold 800 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $155.24, for a total value of $124,192.00. Following the completion of the sale, the director now directly owns 19,177 shares of the company's stock, valued at $2,977,037.48. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 9,367 shares of the company's stock, valued at approximately $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,185 shares of company stock valued at $3,105,359 over the last three months. Corporate insiders own 11.85% of the company's stock.

Argan Stock Down 5.0 %

AGX traded down $7.93 during trading on Tuesday, hitting $151.01. The company's stock had a trading volume of 304,799 shares, compared to its average volume of 532,589. Argan, Inc. has a one year low of $44.69 and a one year high of $191.46. The firm has a market cap of $2.05 billion, a PE ratio of 31.59 and a beta of 0.56. The business's 50 day simple moving average is $150.77 and its 200-day simple moving average is $122.61.

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

Argan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd were paid a $0.375 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.99%. Argan's dividend payout ratio (DPR) is presently 31.38%.

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.