Argan, Inc. (NYSE:AGX) Shares Purchased by Oberweis Asset Management Inc.

Oberweis Asset Management Inc. boosted its position in shares of Argan, Inc. (NYSE:AGX) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,900 shares of the construction company’s stock after buying an additional 1,500 shares during the period. Oberweis Asset Management Inc. owned 0.34% of Argan worth $6,290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amundi raised its position in Argan by 8.6% in the 4th quarter. Amundi now owns 859 shares of the construction company’s stock valued at $118,000 after purchasing an additional 68 shares during the last quarter. Savant Capital LLC raised its holdings in shares of Argan by 1.3% in the fourth quarter. Savant Capital LLC now owns 10,552 shares of the construction company’s stock valued at $1,446,000 after buying an additional 133 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Argan by 3.7% during the fourth quarter. Cerity Partners LLC now owns 4,042 shares of the construction company’s stock worth $545,000 after buying an additional 144 shares during the period. Hillsdale Investment Management Inc. grew its holdings in shares of Argan by 0.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company’s stock worth $3,668,000 after buying an additional 150 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in Argan in the 4th quarter valued at about $26,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Insider Transactions at Argan

In related news, Director Peter W. Getsinger sold 5,000 shares of the business’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 sale, the director now owns 11,496 shares of the company’s stock, valued at approximately $1,667,264.88. The trade was 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 at this link. Corporate insiders own 11.85% of the company’s stock.

Argan Stock Up 5.1 %

Shares of Argan stock opened at $148.62 on Friday. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 31.09 and a beta of 0.45. Argan, Inc. has a 52-week low of $60.03 and a 52-week high of $191.46. The company’s 50-day simple moving average is $129.74 and its 200-day simple moving average is $140.10.

Argan (NYSE:AGX) last released its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $1.07. The company had revenue of $232.47 million for the quarter, compared to analysts’ expectations of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The business’s 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. This represents a $1.50 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan’s dividend payout ratio (DPR) is currently 24.55%.

Wall Street Analyst Weigh In

Separately, Lake Street Capital upgraded Argan from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Friday, March 28th.

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.