Argan, Inc. (NYSE:AGX) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. decreased its position in Argan, Inc. (NYSE:AGXFree Report) by 17.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,000 shares of the construction company’s stock after selling 3,274 shares during the quarter. Wesbanco Bank Inc. owned 0.12% of Argan worth $2,193,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Argan by 81.8% during the 3rd quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company’s stock valued at $92,408,000 after purchasing an additional 409,948 shares in the last quarter. State Street Corp increased its position in shares of Argan by 4.8% during 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 during the last quarter. Geode Capital Management LLC lifted its stake in shares of Argan by 0.5% in the third quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company’s stock worth $29,141,000 after acquiring an additional 1,553 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Argan by 72.2% in the third 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 during the last quarter. Finally, Millennium Management LLC grew its stake in Argan by 27.4% during the 2nd quarter. Millennium Management LLC now owns 107,825 shares of the construction company’s stock valued at $7,888,000 after purchasing an additional 23,168 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Insider Buying and Selling

In other Argan news, CEO David Hibbert Watson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $146.05, for a total transaction of $1,460,500.00. Following the completion of the transaction, the chief executive officer now directly owns 51,291 shares of the company’s stock, valued at $7,491,050.55. The trade was a 16.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter W. Getsinger sold 7,385 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the completion of the sale, the director now owns 11,792 shares in the company, valued at $1,949,099.68. The trade was a 38.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,185 shares of company stock worth $3,105,359 in the last three months. 11.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AGX shares. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and upped their target price for the company from $85.00 to $150.00 in a research report on Tuesday, December 3rd. CJS Securities reiterated a “market perform” rating and set a $150.00 price objective on shares of Argan in a research note on Friday, December 6th. Finally, StockNews.com lowered shares of Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th.

Check Out Our Latest Stock Analysis on Argan

Argan Price Performance

Argan stock opened at $174.79 on Friday. Argan, Inc. has a 12 month low of $43.44 and a 12 month high of $191.46. The company has a fifty day moving average price of $151.99 and a two-hundred day moving average price of $115.75. The company has a market cap of $2.37 billion, a PE ratio of 36.57 and a beta of 0.56.

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

Argan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 23rd will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, January 23rd. Argan’s dividend payout ratio (DPR) is 31.38%.

Argan Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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