Entropy Technologies LP Has $721,000 Stock Holdings in Argan, Inc. (NYSE:AGX)

Entropy Technologies LP grew its holdings in Argan, Inc. (NYSE:AGX) by 108.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,104 shares of the construction company’s stock after buying an additional 3,699 shares during the period. Entropy Technologies LP’s holdings in Argan were worth $721,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AGX. Truist Financial Corp increased its stake in Argan by 76.2% during the 2nd quarter. Truist Financial Corp now owns 12,552 shares of the construction company’s stock worth $918,000 after acquiring an additional 5,430 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Argan by 283.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 57,536 shares of the construction company’s stock worth $5,836,000 after buying an additional 42,527 shares during the period. Marshall Wace LLP acquired a new position in Argan during the 2nd quarter worth about $3,166,000. Cubist Systematic Strategies LLC acquired a new position in shares of Argan in the 2nd quarter valued at about $2,628,000. Finally, MKP Capital Management L.L.C. acquired a new position in shares of Argan in the 2nd quarter valued at about $878,000. 79.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com lowered Argan from a “buy” rating to a “hold” rating in a research report on Tuesday, October 29th.

Argan Stock Performance

Shares of AGX opened at $149.23 on Friday. The stock has a 50 day moving average price of $115.17 and a two-hundred day moving average price of $87.16. The firm has a market capitalization of $2.01 billion, a P/E ratio of 46.93 and a beta of 0.49. Argan, Inc. has a 52 week low of $39.74 and a 52 week high of $162.78.

Argan (NYSE:AGX) last released its earnings results on Thursday, September 5th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.34. The company had revenue of $227.02 million during the quarter, compared to analyst estimates of $191.05 million. Argan had a return on equity of 14.80% and a net margin of 6.11%. Argan’s quarterly revenue was up 60.6% on a year-over-year basis.

Argan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd were paid a $0.375 dividend. This is an increase from Argan’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, October 23rd. This represents a $1.50 annualized dividend and a yield of 1.01%. Argan’s dividend payout ratio is presently 47.17%.

Insiders Place Their Bets

In other news, Director Rainer H. Bosselmann sold 10,105 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $130.10, for a total value of $1,314,660.50. Following the transaction, the director now owns 219,879 shares of the company’s stock, valued at approximately $28,606,257.90. This represents a 4.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cynthia Flanders sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $96.39, for a total transaction of $481,950.00. Following the completion of the transaction, the director now directly owns 17,332 shares in the company, valued at approximately $1,670,631.48. The trade was a 22.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,703 shares of company stock worth $4,257,794 over the last 90 days. Corporate 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.