1,920 Shares in Argan, Inc. (NYSE:AGX) Bought by NEOS Investment Management LLC

NEOS Investment Management LLC bought a new stake in shares of Argan, Inc. (NYSE:AGX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,920 shares of the construction company’s stock, valued at approximately $263,000.

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

Argan Stock Down 4.8 %

Argan stock opened at $131.46 on Tuesday. Argan, Inc. has a 12 month low of $48.85 and a 12 month high of $191.46. The company’s fifty day simple moving average is $135.15 and its 200-day simple moving average is $135.38. The stock has a market cap of $1.78 billion, a P/E ratio of 27.50 and a beta of 0.58.

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

Analyst Upgrades and Downgrades

AGX has been the topic of a number of research analyst reports. CJS Securities reiterated a “market perform” rating and set a $150.00 price target on shares of Argan in a report on Friday, December 6th. Lake Street Capital upgraded Argan from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Friday.

Insider Buying and Selling

In other news, Director Peter W. Getsinger sold 800 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $155.24, for a total transaction of $124,192.00. Following the transaction, the director now owns 19,177 shares in the company, valued at $2,977,037.48. This represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares in the company, valued at $1,405,050. This represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,185 shares of company stock worth $1,644,859. Insiders own 11.85% of the company’s stock.

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.