Argan, Inc. (NYSE:AGX) Shares Acquired by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC increased its position in shares of Argan, Inc. (NYSE:AGX) by 34.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,411 shares of the construction company’s stock after purchasing an additional 2,150 shares during the quarter. Thoroughbred Financial Services LLC owned 0.06% of Argan worth $1,152,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. FMR LLC lifted its stake in Argan by 68.2% during the 3rd quarter. FMR LLC now owns 1,033 shares of the construction company’s stock valued at $105,000 after acquiring an additional 419 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Argan by 21.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,009 shares of the construction company’s stock valued at $305,000 after purchasing an additional 532 shares during the period. Centiva Capital LP boosted its holdings in Argan by 9.3% in the third quarter. Centiva Capital LP now owns 6,872 shares of the construction company’s stock valued at $697,000 after purchasing an additional 583 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Argan during the 3rd quarter worth about $471,000. Finally, State Street Corp raised its stake in shares of Argan by 4.8% during the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company’s stock valued at $35,905,000 after buying an additional 16,055 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Argan Price Performance

AGX opened at $120.60 on Friday. The stock has a market cap of $1.64 billion, a P/E ratio of 25.23 and a beta of 0.58. The firm has a fifty day moving average price of $131.32 and a 200 day moving average price of $136.19. Argan, Inc. has a 1 year low of $48.85 and a 1 year high of $191.46.

Argan (NYSE:AGX) last posted its earnings results 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. Argan had a net margin of 8.20% and a return on equity of 21.66%. The business had revenue of $232.47 million for the quarter, compared to analyst estimates of $197.50 million. The firm’s revenue was up 41.3% on a year-over-year basis.

Insider Activity

In other Argan news, CFO Richard H. Deily sold 2,000 shares of the 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 directly owns 9,367 shares of the company’s stock, valued at $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 7,385 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was 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 position. The disclosure for this sale can be found here. Insiders sold 10,185 shares of company stock worth $1,644,859 over the last three months. 11.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, 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 research note on Friday, March 28th.

Argan Company 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.