Townsquare Capital LLC Acquires Shares of 2,835 Argan, Inc. (NYSE:AGX)

Townsquare Capital LLC bought a new position in Argan, Inc. (NYSE:AGX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,835 shares of the construction company’s stock, valued at approximately $389,000.

Several other institutional investors also recently modified their holdings of AGX. Spire Wealth Management bought a new position in shares of Argan during the fourth quarter valued at approximately $26,000. Farther Finance Advisors LLC bought a new position in Argan during the 4th quarter valued at approximately $32,000. Global Retirement Partners LLC purchased a new position in Argan during the fourth quarter valued at $35,000. Truvestments Capital LLC purchased a new stake in shares of Argan in the fourth quarter worth $57,000. Finally, Federated Hermes Inc. increased its holdings in shares of Argan by 1,123.5% during the fourth quarter. Federated Hermes Inc. now owns 416 shares of the construction company’s stock valued at $57,000 after acquiring an additional 382 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors.

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 objective on the stock in a research report on Friday, March 28th.

Argan Trading Down 1.7 %

AGX stock opened at $146.19 on Monday. The stock’s 50 day simple moving average is $130.57 and its 200 day simple moving average is $139.72. Argan, Inc. has a 12-month low of $60.03 and a 12-month high of $191.46. The stock has a market capitalization of $1.99 billion, a PE ratio of 30.58 and a beta of 0.45.

Argan (NYSE:AGX) last announced its quarterly earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $197.50 million. The firm’s revenue was up 41.3% on a year-over-year basis.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 22nd will be paid a $0.375 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.03%. Argan’s dividend payout ratio is presently 24.55%.

Insider Transactions at Argan

In related news, Director Peter W. Getsinger sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $145.03, for a total value of $725,150.00. Following the sale, the director now owns 11,496 shares in the company, valued at approximately $1,667,264.88. This trade represents a 30.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 11.85% of the company’s stock.

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.