Argan, Inc. (NYSE:AGX) Shares Sold by Versor Investments LP

Versor Investments LP reduced its position in shares of Argan, Inc. (NYSE:AGX) by 38.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,991 shares of the construction company’s stock after selling 3,069 shares during the period. Versor Investments LP’s holdings in Argan were worth $684,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AGX. Wellington Management Group LLP grew its holdings in Argan by 81.8% during the third quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company’s stock worth $92,408,000 after acquiring an additional 409,948 shares during the period. Bank of New York Mellon Corp grew its holdings in Argan by 80.3% during the fourth quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company’s stock worth $25,549,000 after acquiring an additional 83,039 shares during the period. Lord Abbett & CO. LLC acquired a new position in Argan during the third quarter worth about $6,687,000. WCM Investment Management LLC acquired a new position in Argan during the fourth quarter worth about $8,241,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Argan by 72.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,224 shares of the construction company’s stock worth $11,586,000 after acquiring an additional 47,881 shares during the period. 79.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Argan news, Director Peter W. Getsinger sold 800 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $155.24, for a total transaction of $124,192.00. Following the completion of the sale, the director now directly owns 19,177 shares in the company, valued at approximately $2,977,037.48. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 9,367 shares of the company’s stock, valued at $1,405,050. The trade was a 17.59 % decrease in their ownership of the stock. 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. 11.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AGX has been the topic of a number of research analyst reports. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and lifted their target price for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd. CJS Securities reiterated a “market perform” rating and issued a $150.00 price target on shares of Argan in a research report on Friday, December 6th.

Argan Stock Up 3.8 %

NYSE:AGX opened at $130.18 on Friday. Argan, Inc. has a 1-year low of $46.15 and a 1-year high of $191.46. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 27.23 and a beta of 0.56. The stock has a fifty day simple moving average of $149.19 and a 200 day simple moving average of $128.39.

Argan (NYSE:AGX) last released its quarterly earnings results 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 return on equity of 21.66% and a net margin of 8.20%. The business had revenue of $257.00 million during the quarter, compared to analyst estimates of $225.60 million. The company’s revenue for the quarter was up 56.9% compared to the same quarter last year.

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 23rd were given a dividend of $0.375 per share. The ex-dividend date was Thursday, January 23rd. This represents a $1.50 dividend on an annualized basis and a yield of 1.15%. Argan’s payout ratio is presently 31.38%.

Argan 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.