SG Americas Securities LLC Has $147,000 Position in Argan, Inc. (NYSE:AGX)

SG Americas Securities LLC lessened its position in Argan, Inc. (NYSE:AGX - Free Report) by 75.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,075 shares of the construction company's stock after selling 3,336 shares during the period. SG Americas Securities LLC's holdings in Argan were worth $147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AGX. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Argan in the 3rd quarter valued at about $43,000. Copeland Capital Management LLC bought a new position in shares of Argan in the 3rd quarter valued at about $56,000. nVerses Capital LLC bought a new position in shares of Argan in the 3rd quarter valued at about $91,000. FMR LLC grew its position in shares of Argan by 68.2% in the 3rd quarter. FMR LLC now owns 1,033 shares of the construction company's stock valued at $105,000 after acquiring an additional 419 shares during the period. Finally, Pallas Capital Advisors LLC bought a new position in shares of Argan in the 3rd quarter valued at about $186,000. Institutional investors own 79.43% of the company's stock.

Wall Street Analysts Forecast Growth

AGX has been the subject of a number of analyst reports. StockNews.com downgraded shares of Argan from a "buy" rating to a "hold" rating in a research report on Tuesday, October 29th. CJS Securities reaffirmed a "market perform" rating and set a $150.00 target price on shares of Argan in a report on Friday, December 6th. Finally, Lake Street Capital downgraded shares of Argan from a "buy" rating to a "hold" rating and lifted their target price for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd.

Argan Stock Performance

Shares of AGX stock traded up $0.08 during midday trading on Friday, hitting $148.22. 187,047 shares of the company were exchanged, compared to its average volume of 505,955. The firm has a market capitalization of $2.01 billion, a P/E ratio of 31.01 and a beta of 0.56. The firm's 50 day moving average price is $150.79 and its two-hundred day moving average price is $123.49. Argan, Inc. has a 52 week low of $45.93 and a 52 week high of $191.46.

Argan (NYSE:AGX - Get Free Report) last announced its earnings results on Thursday, December 5th. The construction company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.26 by $0.74. Argan had a net margin of 8.20% and a return on equity of 21.66%. The business had revenue of $257.00 million during the quarter, compared to the consensus estimate of $225.60 million. The business's revenue was up 56.9% compared to the same quarter last year.

Argan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 23rd were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.01%. The ex-dividend date was Thursday, January 23rd. Argan's dividend payout ratio (DPR) is 31.38%.

Insiders Place Their Bets

In other Argan news, CEO David Hibbert Watson sold 10,000 shares of Argan stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $146.05, for a total value of $1,460,500.00. Following the completion of the sale, the chief executive officer now owns 51,291 shares in the company, valued at $7,491,050.55. The trade was a 16.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter W. Getsinger sold 800 shares of Argan stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $155.24, for a total transaction of $124,192.00. Following the completion of the sale, the director now owns 19,177 shares of the company's stock, valued at $2,977,037.48. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,185 shares of company stock worth $3,105,359 in the last quarter. 11.85% of the stock is currently owned by corporate 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.