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

Oberweis Asset Management Inc. increased its holdings in Argan, Inc. (NYSE:AGX) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,900 shares of the construction company’s stock after buying an additional 1,500 shares during the period. Oberweis Asset Management Inc.’s holdings in Argan were worth $6,290,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Argan by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 843,583 shares of the construction company’s stock valued at $115,605,000 after purchasing an additional 16,784 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Argan by 21.0% during the 4th quarter. Renaissance Technologies LLC now owns 672,579 shares of the construction company’s stock worth $92,170,000 after purchasing an additional 116,783 shares during the last quarter. American Century Companies Inc. lifted its stake in Argan by 18.1% in the 4th 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. Arrowstreet Capital Limited Partnership grew its holdings in Argan by 37.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company’s stock valued at $40,475,000 after buying an additional 80,844 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Argan by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 292,956 shares of the construction company’s stock worth $40,156,000 after buying an additional 5,710 shares in the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Lake Street Capital upgraded 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.

Insider Buying and Selling 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 directly owns 11,496 shares of the company’s stock, valued at approximately $1,667,264.88. This trade represents a 30.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.85% of the stock is owned by company insiders.

Argan Price Performance

Shares of NYSE AGX opened at $148.62 on Friday. The company has a market cap of $2.03 billion, a PE ratio of 31.09 and a beta of 0.45. The company has a 50-day simple moving average of $129.74 and a 200-day simple moving average of $140.10. Argan, Inc. has a 12 month low of $60.03 and a 12 month high of $191.46.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.07. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. Argan’s revenue for the quarter was up 41.3% compared to the same quarter last year.

Argan Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.01%. The ex-dividend date is Tuesday, April 22nd. Argan’s dividend payout ratio (DPR) is 24.55%.

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.