Argan, Inc. $AGX Stock Position Decreased by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in shares of Argan, Inc. (NYSE:AGX) by 34.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,321 shares of the construction company’s stock after selling 3,341 shares during the quarter. Intech Investment Management LLC’s holdings in Argan were worth $1,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in AGX. Mark Sheptoff Financial Planning LLC bought a new position in Argan during the second quarter valued at approximately $44,000. Eastern Bank acquired a new position in shares of Argan during the 3rd quarter worth $55,000. Federated Hermes Inc. raised its holdings in shares of Argan by 22.0% during the 3rd quarter. Federated Hermes Inc. now owns 255 shares of the construction company’s stock valued at $69,000 after purchasing an additional 46 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Argan by 1,116.7% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the construction company’s stock worth $80,000 after buying an additional 335 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Argan by 3,200.0% in the 3rd quarter. Bessemer Group Inc. now owns 330 shares of the construction company’s stock valued at $89,000 after acquiring an additional 320 shares in the last quarter. Institutional investors own 79.43% of the company’s stock.

Insider Transactions at Argan

In other news, Director Cynthia Flanders sold 19,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $386.70, for a total value of $7,347,300.00. Following the transaction, the director directly owned 26,207 shares of the company’s stock, valued at $10,134,246.90. The trade was a 42.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Ronald Jr. Jeffrey sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $360.78, for a total value of $1,803,900.00. Following the sale, the director directly owned 8,192 shares of the company’s stock, valued at $2,955,509.76. This represents a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 55,915 shares of company stock valued at $20,182,794. 6.69% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on AGX. Weiss Ratings reissued a “buy (b+)” rating on shares of Argan in a research report on Wednesday, December 24th. Zacks Research downgraded shares of Argan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Lake Street Capital cut shares of Argan from a “buy” rating to a “hold” rating and upped their price target for the company from $260.00 to $325.00 in a report on Friday, December 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $370.00 target price (up from $315.00) on shares of Argan in a report on Monday, December 1st. Finally, The Goldman Sachs Group initiated coverage on shares of Argan in a report on Tuesday, November 11th. They set a “buy” rating and a $397.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Argan presently has an average rating of “Hold” and an average target price of $355.20.

Argan Price Performance

Shares of AGX stock opened at $428.91 on Friday. The stock’s fifty day simple moving average is $375.52 and its 200 day simple moving average is $320.33. Argan, Inc. has a one year low of $101.02 and a one year high of $469.88. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 50.52 and a beta of 0.57.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, December 4th. The construction company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.35. Argan had a return on equity of 31.38% and a net margin of 13.11%.The company had revenue of $251.15 million during the quarter, compared to analysts’ expectations of $251.50 million. During the same period last year, the business earned $2.00 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis.

Argan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Thursday, January 22nd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, January 22nd. Argan’s dividend payout ratio (DPR) is currently 23.56%.

Argan Company 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.