Argan, Inc. (NYSE:AGX) Shares Purchased by Thames Capital Management LLC

Thames Capital Management LLC boosted its stake in shares of Argan, Inc. (NYSE:AGX - Free Report) by 286.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 117,384 shares of the construction company's stock after buying an additional 87,038 shares during the period. Argan accounts for 4.4% of Thames Capital Management LLC's investment portfolio, making the stock its 8th largest position. Thames Capital Management LLC owned 0.87% of Argan worth $16,086,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Argan by 81.8% in the third quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company's stock valued at $92,408,000 after acquiring an additional 409,948 shares during the last quarter. Vanguard Group Inc. raised its position in Argan by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 843,583 shares of the construction company's stock valued at $115,605,000 after purchasing an additional 16,784 shares during the period. American Century Companies Inc. lifted its stake in shares of Argan by 18.1% in the 4th quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock valued at $65,869,000 after purchasing an additional 73,654 shares during the last quarter. State Street Corp grew its holdings in shares of Argan by 4.8% during the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company's stock worth $35,905,000 after purchasing an additional 16,055 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Argan by 37.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company's stock worth $40,475,000 after purchasing an additional 80,844 shares during the period. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Argan

In other news, Director Peter W. Getsinger sold 7,385 shares of the business's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the completion of the transaction, the director now directly owns 11,792 shares of the company's stock, valued at approximately $1,949,099.68. The trade was a 38.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.85% of the company's stock.

Argan Stock Performance

Shares of NYSE AGX traded up $7.55 during trading on Friday, reaching $145.55. The stock had a trading volume of 184,071 shares, compared to its average volume of 290,348. The company has a market cap of $1.98 billion, a P/E ratio of 30.60 and a beta of 0.45. The business's 50-day moving average price is $131.04 and its 200-day moving average price is $137.51. Argan, Inc. has a fifty-two week low of $48.96 and a fifty-two week high of $191.46.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, beating 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 business 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.

Analyst Ratings Changes

Separately, Lake Street Capital raised shares of 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.

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.