Townsquare Capital LLC Takes $389,000 Position in Argan, Inc. (NYSE:AGX)

Townsquare Capital LLC bought a new position in Argan, Inc. (NYSE:AGX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,835 shares of the construction company's stock, valued at approximately $389,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC boosted its stake in 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 purchasing an additional 419 shares during the period. Barclays PLC boosted its position in shares of Argan by 46.6% during the third quarter. Barclays PLC now owns 66,341 shares of the construction company's stock worth $6,728,000 after buying an additional 21,094 shares during the period. Geode Capital Management LLC boosted its position in shares of Argan by 0.5% during the third quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company's stock worth $29,141,000 after buying an additional 1,553 shares during the period. Franklin Resources Inc. grew its holdings in Argan by 51.0% in the 3rd quarter. Franklin Resources Inc. now owns 22,406 shares of the construction company's stock worth $2,273,000 after buying an additional 7,564 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Argan in the 3rd quarter valued at approximately $6,687,000. Institutional investors and hedge funds own 79.43% of the company's stock.

Argan Trading Up 0.0 %

NYSE:AGX traded up $0.03 during mid-day trading on Friday, reaching $148.69. 70,641 shares of the stock were exchanged, compared to its average volume of 442,535. The business has a fifty day moving average price of $129.74 and a 200 day moving average price of $140.10. The firm has a market capitalization of $2.03 billion, a PE ratio of 31.11 and a beta of 0.45. Argan, Inc. has a 1-year low of $60.03 and a 1-year high of $191.46.

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

Argan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan's dividend payout ratio is 24.55%.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital raised 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.

Insider Activity at Argan

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

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.