8,900 Shares in Argan, Inc. (NYSE:AGX) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in shares of Argan, Inc. (NYSE:AGX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,900 shares of the construction company's stock, valued at approximately $1,220,000. KLP Kapitalforvaltning AS owned 0.07% of Argan as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted 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 purchasing an additional 409,948 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Argan by 80.3% in the fourth quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company's stock valued at $25,549,000 after acquiring an additional 83,039 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Argan by 18.1% during the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company's stock worth $65,869,000 after acquiring an additional 73,654 shares during the period. Lord Abbett & CO. LLC purchased a new position in Argan during the third quarter worth about $6,687,000. Finally, WCM Investment Management LLC acquired a new stake in Argan in the fourth quarter valued at about $8,241,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Argan Stock Performance

AGX stock traded down $9.69 during trading on Thursday, hitting $128.33. The stock had a trading volume of 401,393 shares, compared to its average volume of 280,668. The company's 50 day moving average price is $132.28 and its two-hundred day moving average price is $135.65. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 26.85 and a beta of 0.58. Argan, Inc. has a 1-year low of $48.85 and a 1-year high of $191.46.

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Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, beating 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. The company's quarterly revenue was up 41.3% on a year-over-year basis.

Analyst Upgrades and Downgrades

AGX has been the topic of a number of recent analyst reports. Lake Street Capital raised shares of Argan from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a research note on Friday, March 28th. CJS Securities reiterated a "market perform" rating and issued a $150.00 price objective on shares of Argan in a research report on Friday, December 6th.

Insider Buying and Selling

In other Argan news, Director Peter W. Getsinger sold 800 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $155.24, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 9,367 shares of the company's stock, valued at approximately $1,405,050. The trade was 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 valued at $1,644,859. Insiders own 11.85% of the company's stock.

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.