L & S Advisors Inc Has $1.30 Million Position in Argan, Inc. (NYSE:AGX)

L & S Advisors Inc trimmed its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 37.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,518 shares of the construction company's stock after selling 5,682 shares during the quarter. L & S Advisors Inc owned approximately 0.07% of Argan worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in Argan during the third quarter valued at about $339,000. D.A. Davidson & CO. bought a new stake in shares of Argan in the third quarter valued at about $2,446,000. FMR LLC increased its stake in Argan by 68.2% during the third 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. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Argan by 21.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,009 shares of the construction company's stock valued at $305,000 after acquiring an additional 532 shares in the last quarter. Finally, Centiva Capital LP lifted its position in shares of Argan by 9.3% in the 3rd quarter. Centiva Capital LP now owns 6,872 shares of the construction company's stock worth $697,000 after acquiring an additional 583 shares during the period. Institutional investors own 79.43% of the company's stock.

Insider Buying and Selling

In related news, Director Peter W. Getsinger sold 800 shares of the 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 transaction, the director now directly owns 19,177 shares in the company, valued at approximately $2,977,037.48. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction that occurred on 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 in the company, valued at $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,185 shares of company stock worth $1,644,859 over the last ninety days. Company insiders own 11.85% of the company's stock.

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Argan Trading Down 6.8 %

Shares of Argan stock traded down $9.43 during midday trading on Thursday, reaching $128.59. The company had a trading volume of 203,570 shares, compared to its average volume of 278,993. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 26.90 and a beta of 0.58. The stock has a fifty day simple moving average of $133.21 and a 200 day simple moving average of $135.70. Argan, Inc. has a 1-year low of $48.85 and a 1-year high of $191.46.

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

Analyst Ratings Changes

AGX has been the subject of several research reports. CJS Securities reaffirmed a "market perform" rating and issued a $150.00 target price on shares of Argan in a research report on Friday, December 6th. Lake Street Capital upgraded Argan from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a report on Friday, March 28th.

Argan 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.