NEOS Investment Management LLC Takes $263,000 Position in Argan, Inc. (NYSE:AGX)

NEOS Investment Management LLC purchased a new position in Argan, Inc. (NYSE:AGX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,920 shares of the construction company's stock, valued at approximately $263,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Spire Wealth Management purchased a new stake in Argan during the 4th quarter valued at about $26,000. Farther Finance Advisors LLC acquired a new stake in shares of Argan in the fourth quarter worth $32,000. Global Retirement Partners LLC acquired a new position in Argan during the fourth quarter valued at $35,000. Truvestments Capital LLC acquired a new stake in Argan during the 4th quarter worth about $57,000. Finally, KBC Group NV acquired a new stake in Argan during the 4th quarter worth about $93,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AGX. 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. CJS Securities reissued a "market perform" rating and set a $150.00 price target on shares of Argan in a report on Friday, December 6th.

Argan Trading Down 6.3 %

AGX traded down $8.15 during trading on Friday, hitting $120.60. The company's stock had a trading volume of 485,711 shares, compared to its average volume of 283,205. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 25.23 and a beta of 0.58. Argan, Inc. has a twelve month low of $48.85 and a twelve month high of $191.46. The business's fifty day simple moving average is $131.32 and its 200 day simple moving average is $136.19.

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Argan (NYSE:AGX - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The construction company reported $2.22 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 company had revenue of $232.47 million during the quarter, compared to analyst estimates of $197.50 million. The company's revenue was up 41.3% on a year-over-year basis.

Insider Buying and Selling at Argan

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the firm's stock in a transaction 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 transaction, the director now owns 11,792 shares in the company, valued at approximately $1,949,099.68. This trade represents a 38.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 9,367 shares of the company's stock, valued at $1,405,050. The trade was 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 over the last quarter. 11.85% of the stock is currently owned by insiders.

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.