Argan, Inc. (NYSE:AGX) Shares Sold by Trexquant Investment LP

Trexquant Investment LP trimmed its position in Argan, Inc. (NYSE:AGX) by 2.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,259 shares of the construction company’s stock after selling 612 shares during the period. Trexquant Investment LP’s holdings in Argan were worth $3,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AGX. Spire Wealth Management bought a new position in Argan during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC acquired a new stake in shares of Argan during the 4th quarter valued at approximately $32,000. Global Retirement Partners LLC bought a new position in Argan during the fourth quarter worth $35,000. Truvestments Capital LLC acquired a new position in Argan in the fourth quarter worth $57,000. Finally, KBC Group NV bought a new stake in Argan during the fourth quarter valued at $93,000. 79.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Argan

In related news, Director Peter W. Getsinger sold 7,385 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total value of $1,220,666.65. Following the sale, the director now directly owns 11,792 shares in the company, valued at $1,949,099.68. This trade represents a 38.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following 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 in the last ninety days. Company insiders own 11.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital upgraded shares of Argan from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Friday, March 28th.

Argan Trading Down 6.3 %

Shares of NYSE AGX opened at $120.60 on Monday. Argan, Inc. has a 12-month low of $48.85 and a 12-month high of $191.46. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 25.23 and a beta of 0.58. The stock’s 50 day simple moving average is $131.32 and its 200 day simple moving average is $136.52.

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, beating analysts’ consensus estimates of $1.15 by $1.07. The company had revenue of $232.47 million for the quarter, compared to analysts’ expectations of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. Argan’s revenue was up 41.3% compared to the same quarter last year.

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.