Watershed Asset Management L.L.C. Purchases 441 Shares of Argan, Inc. (NYSE:AGX)

Watershed Asset Management L.L.C. boosted its position in Argan, Inc. (NYSE:AGX) by 7.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,321 shares of the construction company’s stock after acquiring an additional 441 shares during the period. Watershed Asset Management L.L.C.’s holdings in Argan were worth $296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cardinal Capital Management grew its holdings in Argan by 1.0% during the 4th quarter. Cardinal Capital Management now owns 22,904 shares of the construction company’s stock valued at $1,072,000 after buying an additional 237 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Argan by 3.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,904 shares of the construction company’s stock valued at $417,000 after buying an additional 282 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in Argan by 3.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 21,712 shares of the construction company’s stock valued at $988,000 after buying an additional 775 shares in the last quarter. SG Americas Securities LLC grew its holdings in Argan by 18.8% during the 4th quarter. SG Americas Securities LLC now owns 6,918 shares of the construction company’s stock valued at $324,000 after buying an additional 1,093 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in Argan during the 4th quarter valued at about $53,000. 79.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AGX shares. Lake Street Capital lifted their target price on Argan from $61.00 to $70.00 and gave the company a “buy” rating in a report on Friday, April 12th. StockNews.com raised Argan from a “buy” rating to a “strong-buy” rating in a report on Monday, April 15th.

Insider Buying and Selling

In related news, Director W G. Champion Mitchell sold 2,507 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $61.48, for a total value of $154,130.36. Following the completion of the sale, the director now owns 2,500 shares in the company, valued at approximately $153,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director W G. Champion Mitchell sold 2,507 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $61.48, for a total value of $154,130.36. Following the completion of the sale, the director now owns 2,500 shares in the company, valued at approximately $153,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director W G. Champion Mitchell sold 13,143 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $60.17, for a total value of $790,814.31. Following the completion of the sale, the director now owns 5,197 shares of the company’s stock, valued at approximately $312,703.49. The disclosure for this sale can be found here. Insiders sold 36,906 shares of company stock worth $2,227,349 in the last quarter. 11.53% of the stock is owned by insiders.

Argan Trading Down 0.0 %

Shares of NYSE AGX traded down $0.01 during midday trading on Tuesday, hitting $61.63. 107,551 shares of the company’s stock were exchanged, compared to its average volume of 73,456. Argan, Inc. has a 12-month low of $37.37 and a 12-month high of $62.69. The company has a market cap of $815.98 million, a price-to-earnings ratio of 25.79 and a beta of 0.49. The business’s fifty day moving average price is $50.66 and its two-hundred day moving average price is $47.37.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, April 11th. The construction company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.75 by $0.14. Argan had a return on equity of 11.37% and a net margin of 5.64%. The company had revenue of $164.55 million during the quarter, compared to analyst estimates of $162.05 million. During the same quarter in the previous year, the firm earned ($0.46) earnings per share. Argan’s revenue was up 38.5% on a year-over-year basis.

Argan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 22nd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, April 19th. Argan’s payout ratio is 50.21%.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.