Shaker Investments LLC OH Sells 7,624 Shares of Argan, Inc. (NYSE:AGX)

Shaker Investments LLC OH decreased its position in shares of Argan, Inc. (NYSE:AGX) by 48.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,229 shares of the construction company’s stock after selling 7,624 shares during the period. Shaker Investments LLC OH’s holdings in Argan were worth $1,128,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of Argan by 81.8% in the 3rd quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company’s stock valued at $92,408,000 after buying an additional 409,948 shares in the last quarter. State Street Corp increased its holdings in shares of Argan by 4.8% in the third quarter. State Street Corp now owns 353,984 shares of the construction company’s stock worth $35,905,000 after acquiring an additional 16,055 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Argan by 0.5% during the third quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company’s stock worth $29,141,000 after purchasing an additional 1,553 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Argan by 72.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,224 shares of the construction company’s stock valued at $11,586,000 after purchasing an additional 47,881 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Argan by 46.6% in the 3rd quarter. Barclays PLC now owns 66,341 shares of the construction company’s stock valued at $6,728,000 after purchasing an additional 21,094 shares during the period. Institutional investors own 79.43% of the company’s stock.

Insider Activity at Argan

In other Argan news, CEO David Hibbert Watson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $146.05, for a total transaction of $1,460,500.00. Following the completion of the sale, the chief executive officer now owns 51,291 shares of the company’s stock, valued at $7,491,050.55. This trade represents a 16.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at $1,405,050. The trade was a 17.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,185 shares of company stock worth $3,105,359. Insiders own 11.85% of the company’s stock.

Argan Stock Down 1.8 %

NYSE:AGX opened at $158.74 on Tuesday. Argan, Inc. has a twelve month low of $44.69 and a twelve month high of $191.46. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 33.21 and a beta of 0.56. The stock’s 50 day moving average price is $150.71 and its two-hundred day moving average price is $122.02.

Argan (NYSE:AGX) last issued its earnings results on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.74. The business had revenue of $257.00 million for the quarter, compared to the consensus estimate of $225.60 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. Argan’s revenue was up 56.9% on a year-over-year basis.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 23rd were issued a $0.375 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.94%. Argan’s payout ratio is 31.38%.

Analyst Ratings Changes

Several brokerages have commented on AGX. CJS Securities restated a “market perform” rating and set a $150.00 target price on shares of Argan in a report on Friday, December 6th. StockNews.com lowered shares of Argan from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Lake Street Capital lowered shares of Argan from a “buy” rating to a “hold” rating and upped their target price for the stock from $85.00 to $150.00 in a research note on Tuesday, December 3rd.

Argan Company 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.