Argan, Inc. (NYSE:AGX) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its position in Argan, Inc. (NYSE:AGX - Free Report) by 95.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,543 shares of the construction company's stock after acquiring an additional 3,199 shares during the quarter. Intech Investment Management LLC's holdings in Argan were worth $897,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AGX. Amundi raised its position in Argan by 8.6% in the 4th 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 increased its stake in Argan by 1.3% in the fourth quarter. Savant Capital LLC now owns 10,552 shares of the construction company's stock valued at $1,446,000 after purchasing an additional 133 shares during the period. Spire Wealth Management purchased a new stake in shares of Argan in the fourth quarter valued at about $26,000. Farther Finance Advisors LLC acquired a new stake in shares of Argan during the fourth quarter worth about $32,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Argan during the fourth quarter worth about $35,000. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Argan Trading Down 3.9 %

Shares of Argan stock traded down $4.62 on Thursday, reaching $114.91. 429,378 shares of the stock were exchanged, compared to its average volume of 263,741. The firm has a market capitalization of $1.56 billion, a PE ratio of 24.04 and a beta of 0.58. Argan, Inc. has a 1-year low of $48.85 and a 1-year high of $191.46. The business has a fifty day moving average price of $138.05 and a two-hundred day moving average price of $134.26.

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

Analysts Set New Price Targets

Several analysts have commented on AGX shares. Lake Street Capital downgraded Argan from a "buy" rating to a "hold" rating and upped their price objective for the company from $85.00 to $150.00 in a research note on Tuesday, December 3rd. CJS Securities reissued a "market perform" rating and issued a $150.00 target price on shares of Argan in a report on Friday, December 6th.

Insiders Place Their Bets

In other news, Director Peter W. Getsinger sold 800 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $155.24, for a total transaction of $124,192.00. Following the transaction, the director now directly owns 19,177 shares of the company's stock, valued at $2,977,037.48. This represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the completion of the sale, 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. Over the last quarter, insiders sold 10,185 shares of company stock worth $1,644,859. 11.85% of the stock is owned by corporate insiders.

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.