Money Concepts Capital Corp Decreases Holdings in Argan, Inc. (NYSE:AGX)

Money Concepts Capital Corp reduced its position in Argan, Inc. (NYSE:AGX) by 47.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,431 shares of the construction company’s stock after selling 9,307 shares during the period. Money Concepts Capital Corp owned about 0.08% of Argan worth $1,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Squarepoint Ops LLC acquired a new position in Argan during the second quarter worth about $488,000. Millennium Management LLC raised its position in shares of Argan by 27.4% during the 2nd quarter. Millennium Management LLC now owns 107,825 shares of the construction company’s stock worth $7,888,000 after purchasing an additional 23,168 shares during the last quarter. Creative Planning raised its position in shares of Argan by 70.6% during the 2nd quarter. Creative Planning now owns 10,095 shares of the construction company’s stock worth $739,000 after purchasing an additional 4,179 shares during the last quarter. Truist Financial Corp lifted its stake in Argan by 76.2% in the 2nd quarter. Truist Financial Corp now owns 12,552 shares of the construction company’s stock valued at $918,000 after buying an additional 5,430 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Argan during the 2nd quarter valued at $2,628,000. 79.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AGX shares. CJS Securities reissued a “market perform” rating and issued a $150.00 price target on shares of Argan in a report on Friday, December 6th. StockNews.com downgraded shares of Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Lake Street Capital cut shares of Argan from a “buy” rating to a “hold” rating and raised their price target for the stock from $85.00 to $150.00 in a research note on Tuesday, December 3rd.

Insider Activity at Argan

In related news, CFO Richard H. Deily sold 2,000 shares of Argan 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 in the company, valued at approximately $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter W. Getsinger sold 7,385 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were 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 of the company’s stock, valued at approximately $1,949,099.68. This trade represents a 38.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,185 shares of company stock worth $3,105,359. 11.85% of the stock is owned by company insiders.

Argan Stock Up 9.4 %

Shares of Argan stock opened at $143.07 on Thursday. Argan, Inc. has a fifty-two week low of $44.47 and a fifty-two week high of $191.46. The business’s fifty day moving average is $150.69 and its two-hundred day moving average is $120.37. The firm has a market cap of $1.94 billion, a PE ratio of 29.93 and a beta of 0.56.

Argan (NYSE:AGX) last released its earnings results on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.74. The firm had revenue of $257.00 million for the quarter, compared to the consensus estimate of $225.60 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm’s revenue for the quarter was up 56.9% compared to the same quarter last year.

Argan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 23rd were given a $0.375 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $1.50 annualized dividend and a dividend yield of 1.05%. Argan’s dividend payout ratio is presently 31.38%.

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.