Point72 Asset Management L.P. Purchases 19,310 Shares of Argan, Inc. (NYSE:AGX)

Point72 Asset Management L.P. raised its position in Argan, Inc. (NYSE:AGX) by 416.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,949 shares of the construction company’s stock after buying an additional 19,310 shares during the period. Point72 Asset Management L.P. owned 0.18% of Argan worth $3,282,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AGX. American Century Companies Inc. increased its stake in shares of Argan by 18.1% in the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company’s stock valued at $65,869,000 after buying an additional 73,654 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Argan by 28.5% during the 4th quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company’s stock worth $2,400,000 after acquiring an additional 3,880 shares during the last quarter. Intech Investment Management LLC increased its position in Argan by 95.7% in the 4th quarter. Intech Investment Management LLC now owns 6,543 shares of the construction company’s stock valued at $897,000 after acquiring an additional 3,199 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in Argan by 34.3% in the 4th quarter. Thoroughbred Financial Services LLC now owns 8,411 shares of the construction company’s stock valued at $1,152,000 after acquiring an additional 2,150 shares in the last quarter. Finally, Nkcfo LLC bought a new position in shares of Argan in the fourth quarter worth about $247,000. 79.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Peter W. Getsinger sold 5,000 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $145.03, for a total value of $725,150.00. Following the transaction, the director now directly owns 11,496 shares in the company, valued at $1,667,264.88. This trade represents a 30.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard H. Deily sold 1,565 shares of Argan stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total value of $238,380.80. Following the sale, the chief financial officer now directly owns 7,802 shares of the company’s stock, valued at approximately $1,188,400.64. This trade represents a 16.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,857 shares of company stock valued at $1,308,133 over the last ninety days. Insiders own 6.69% of the company’s stock.

Argan Stock Up 0.2%

AGX stock opened at $189.37 on Wednesday. Argan, Inc. has a twelve month low of $63.53 and a twelve month high of $191.46. The company has a market cap of $2.58 billion, a P/E ratio of 39.62 and a beta of 0.42. The business has a fifty day moving average of $145.85 and a 200-day moving average of $145.87.

Argan (NYSE:AGX) last announced its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $1.07. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm had revenue of $232.47 million during the quarter, compared to analyst estimates of $197.50 million. Argan’s revenue was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 22nd were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Tuesday, April 22nd. Argan’s dividend payout ratio (DPR) is 24.55%.

Analyst Upgrades and Downgrades

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

Argan 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.