3,330 Shares in Argan, Inc. (NYSE:AGX) Acquired by Integrated Quantitative Investments LLC

Integrated Quantitative Investments LLC bought a new stake in shares of Argan, Inc. (NYSE:AGX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,330 shares of the construction company’s stock, valued at approximately $456,000.

A number of other hedge funds also recently modified their holdings of the business. Spire Wealth Management acquired a new position in Argan in the 4th quarter valued at approximately $26,000. Farther Finance Advisors LLC purchased a new stake in shares of Argan during the fourth quarter worth $32,000. Global Retirement Partners LLC acquired a new stake in Argan during the fourth quarter valued at $35,000. Truvestments Capital LLC purchased a new position in Argan in the fourth quarter valued at about $57,000. Finally, KBC Group NV purchased a new position in Argan in the fourth quarter valued at about $93,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Insider Activity at Argan

In other news, Director Peter W. Getsinger sold 7,385 shares of the 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 sale, the director now directly owns 11,792 shares of the company’s stock, valued at $1,949,099.68. This represents a 38.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 9,367 shares of the company’s stock, valued at $1,405,050. This trade represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,185 shares of company stock valued at $1,644,859 over the last ninety days. 11.85% of the stock is owned by insiders.

Argan Stock Performance

NYSE:AGX opened at $120.60 on Friday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 25.23 and a beta of 0.58. The company has a 50-day moving average of $131.32 and a 200-day moving average of $135.86. Argan, Inc. has a 52 week low of $48.85 and a 52 week high of $191.46.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $1.07. The firm had revenue of $232.47 million during the quarter, compared to analyst estimates of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. Argan’s quarterly revenue was up 41.3% compared to the same quarter last year.

Wall Street Analyst Weigh In

AGX has been the subject of several recent research reports. Lake Street Capital raised shares of Argan from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Friday, March 28th. CJS Securities reissued a “market perform” rating and set a $150.00 target price on shares of Argan in a research report on Friday, December 6th.

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.