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

Versor Investments LP decreased its holdings in Argan, Inc. (NYSE:AGX) by 38.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,991 shares of the construction company’s stock after selling 3,069 shares during the quarter. Versor Investments LP’s holdings in Argan were worth $684,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Prime Capital Investment Advisors LLC boosted its stake in shares of Argan by 1.8% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,796 shares of the construction company’s stock valued at $486,000 after buying an additional 86 shares during the last quarter. Savant Capital LLC boosted its stake in shares of Argan by 1.3% during the 4th quarter. Savant Capital LLC now owns 10,552 shares of the construction company’s stock valued at $1,446,000 after buying an additional 133 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Argan during the 4th quarter valued at approximately $26,000. Global Retirement Partners LLC purchased a new position in shares of Argan during the 4th quarter valued at approximately $35,000. Finally, Rhumbline Advisers boosted its stake in shares of Argan by 1.7% during the 4th quarter. Rhumbline Advisers now owns 19,016 shares of the construction company’s stock valued at $2,606,000 after buying an additional 309 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

Analyst Upgrades and Downgrades

AGX has been the topic of several research analyst reports. Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and raised their price objective for the stock from $85.00 to $150.00 in a research note on Tuesday, December 3rd. CJS Securities restated a “market perform” rating and set a $150.00 price objective on shares of Argan in a research note on Friday, December 6th.

Argan Price Performance

Shares of AGX opened at $130.18 on Friday. The stock has a market capitalization of $1.77 billion, a PE ratio of 27.23 and a beta of 0.56. Argan, Inc. has a 12-month low of $46.15 and a 12-month high of $191.46. The business’s fifty day moving average price is $149.19 and its 200 day moving average price is $128.39.

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

Argan Dividend Announcement

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

Insider Buying and Selling at Argan

In other news, CFO Richard H. Deily sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at approximately $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter W. Getsinger sold 7,385 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total value of $1,220,666.65. Following the transaction, the director now directly owns 11,792 shares in the company, valued at $1,949,099.68. This trade represents a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,185 shares of company stock worth $3,105,359. 11.85% of the stock is owned by insiders.

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.