EAM Global Investors LLC Sells 4,682 Shares of Argan, Inc. (NYSE:AGX)

EAM Global Investors LLC trimmed its holdings in shares of Argan, Inc. (NYSE:AGX) by 9.1% during the 4th quarter, Holdings Channel reports. The fund owned 46,573 shares of the construction company’s stock after selling 4,682 shares during the period. Argan comprises about 1.1% of EAM Global Investors LLC’s portfolio, making the stock its 15th largest position. EAM Global Investors LLC’s holdings in Argan were worth $6,382,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC boosted its position in Argan by 68.2% during the third quarter. FMR LLC now owns 1,033 shares of the construction company’s stock valued at $105,000 after purchasing an additional 419 shares in the last quarter. State Street Corp grew its position in shares of Argan by 4.8% in the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company’s stock worth $35,905,000 after buying an additional 16,055 shares during the last quarter. Barclays PLC raised its stake in shares of Argan by 46.6% during the 3rd quarter. Barclays PLC now owns 66,341 shares of the construction company’s stock worth $6,728,000 after acquiring an additional 21,094 shares in the last quarter. Geode Capital Management LLC lifted its position in Argan by 0.5% during the third quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company’s stock valued at $29,141,000 after acquiring an additional 1,553 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Argan by 51.0% in the third quarter. Franklin Resources Inc. now owns 22,406 shares of the construction company’s stock valued at $2,273,000 after acquiring an additional 7,564 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Analysts Set New Price Targets

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 Stock Down 1.6 %

AGX stock opened at $145.19 on Wednesday. Argan, Inc. has a 52 week low of $58.73 and a 52 week high of $191.46. The stock has a market capitalization of $1.98 billion, a PE ratio of 30.37 and a beta of 0.45. The firm has a 50 day moving average of $131.16 and a 200 day moving average of $138.52.

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

Argan Announces Dividend

The company also recently disclosed 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. This represents a $1.50 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Tuesday, April 22nd. Argan’s payout ratio 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.