Integrated Quantitative Investments LLC Invests $456,000 in Argan, Inc. (NYSE:AGX)

Integrated Quantitative Investments LLC bought a new stake in Argan, Inc. (NYSE:AGX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,330 shares of the construction company's stock, valued at approximately $456,000.

A number of other institutional investors also recently bought and sold shares of AGX. Amundi boosted its holdings in Argan by 8.6% in the fourth quarter. Amundi now owns 859 shares of the construction company's stock valued at $118,000 after purchasing an additional 68 shares during the last quarter. Savant Capital LLC grew its position in Argan by 1.3% during the fourth quarter. Savant Capital LLC now owns 10,552 shares of the construction company's stock valued at $1,446,000 after buying an additional 133 shares during the period. Hillsdale Investment Management Inc. raised its position in shares of Argan by 0.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 26,763 shares of the construction company's stock worth $3,668,000 after acquiring an additional 150 shares during the period. Spire Wealth Management acquired a new position in Argan in the 4th quarter worth about $26,000. Finally, Farther Finance Advisors LLC purchased a new position in Argan in the 4th quarter valued at about $32,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Argan

In other news, Director Peter W. Getsinger sold 7,385 shares of Argan stock in a transaction dated 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 completion of 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 11.85% of the company's stock.

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Argan Price Performance

Shares of AGX stock traded down $4.19 during trading on Thursday, hitting $137.79. 146,419 shares of the stock traded hands, compared to its average volume of 288,756. The firm has a market capitalization of $1.88 billion, a P/E ratio of 28.86 and a beta of 0.45. Argan, Inc. has a 52-week low of $48.85 and a 52-week high of $191.46. The firm's fifty day moving average price is $130.96 and its 200-day moving average price is $137.22.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $1.07. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm had revenue of $232.47 million during the quarter, compared to analysts' expectations of $197.50 million. The company's revenue was up 41.3% compared to the same quarter last year.

Analyst Ratings Changes

Separately, Lake Street Capital raised Argan from a "hold" rating to a "buy" rating and set a $150.00 target price for the company in a research note on Friday, March 28th.

About Argan

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.