Argan, Inc. $AGX Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its holdings in Argan, Inc. (NYSE:AGX) by 44.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,379 shares of the construction company’s stock after selling 3,502 shares during the period. SG Americas Securities LLC’s holdings in Argan were worth $1,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Argan in the third quarter worth $14,138,000. Thames Capital Management LLC acquired a new position in shares of Argan during the third quarter worth $11,175,000. Versor Investments LP acquired a new position in shares of Argan during the third quarter worth $971,000. Leavell Investment Management Inc. grew its stake in shares of Argan by 125.3% during the third quarter. Leavell Investment Management Inc. now owns 12,505 shares of the construction company’s stock worth $3,377,000 after purchasing an additional 6,955 shares in the last quarter. Finally, TD Asset Management Inc acquired a new position in shares of Argan during the third quarter worth $35,629,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Insider Activity at Argan

In other Argan news, Director William F. Leimkuhler sold 11,044 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $379.15, for a total value of $4,187,332.60. Following the completion of the transaction, the director owned 49,939 shares in the company, valued at $18,934,371.85. This represents a 18.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cynthia Flanders sold 19,000 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $386.70, for a total transaction of $7,347,300.00. Following the completion of the transaction, the director owned 26,207 shares of the company’s stock, valued at $10,134,246.90. This represents a 42.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 57,852 shares of company stock worth $22,360,053. Insiders own 6.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AGX shares. Freedom Capital upgraded shares of Argan to a “hold” rating in a research note on Tuesday, March 10th. Lake Street Capital boosted their target price on shares of Argan from $325.00 to $375.00 and gave the stock a “hold” rating in a research note on Friday, March 27th. Zacks Research upgraded shares of Argan from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. The Goldman Sachs Group boosted their target price on shares of Argan from $399.00 to $518.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Finally, CJS Securities upgraded shares of Argan to a “hold” rating in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Argan has an average rating of “Moderate Buy” and a consensus price target of $425.40.

Argan Price Performance

NYSE AGX opened at $575.20 on Wednesday. Argan, Inc. has a 1 year low of $124.32 and a 1 year high of $588.00. The company has a market capitalization of $8.02 billion, a PE ratio of 59.06 and a beta of 0.46. The company has a fifty day moving average of $445.73 and a two-hundred day moving average of $364.32.

Argan (NYSE:AGX) last released its quarterly earnings data on Thursday, March 26th. The construction company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $1.48. Argan had a net margin of 14.59% and a return on equity of 33.62%. The company had revenue of $262.05 million during the quarter, compared to the consensus estimate of $255.32 million. During the same quarter in the prior year, the firm posted $2.22 earnings per share. Argan’s revenue for the quarter was up 12.7% on a year-over-year basis.

Argan Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.