6,702 Shares in Argan, Inc. (NYSE:AGX) Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. purchased a new position in shares of Argan, Inc. (NYSE:AGX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,702 shares of the construction company's stock, valued at approximately $918,000.

Other hedge funds have also recently modified their holdings of the company. Spire Wealth Management purchased a new stake in Argan during the fourth quarter worth $26,000. Farther Finance Advisors LLC bought a new stake in Argan during the fourth quarter valued at about $32,000. Global Retirement Partners LLC purchased a new position in Argan in the fourth quarter valued at about $35,000. Truvestments Capital LLC purchased a new position in Argan in the fourth quarter valued at about $57,000. Finally, KBC Group NV bought a new position in Argan in the fourth quarter worth about $93,000. Institutional investors own 79.43% of the company's stock.

Insider Buying and Selling

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The shares were 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. This trade represents a 38.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Richard H. Deily sold 2,000 shares of the company's stock in a transaction 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 directly 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 sold 10,185 shares of company stock valued at $1,644,859 over the last quarter. 11.85% of the stock is currently owned by company insiders.

Remove Ads

Argan Price Performance

NYSE:AGX traded down $9.69 during trading hours on Thursday, hitting $128.33. 401,393 shares of the company were exchanged, compared to its average volume of 279,738. Argan, Inc. has a 52-week low of $48.85 and a 52-week high of $191.46. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 26.85 and a beta of 0.58. The company's 50 day moving average price is $133.21 and its 200-day moving average price is $135.70.

Argan (NYSE:AGX - Get Free Report) last released its 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. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm had revenue of $232.47 million for the quarter, compared to the consensus estimate of $197.50 million. The firm's revenue was up 41.3% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AGX. 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 report on Friday, March 28th. CJS Securities reissued a "market perform" rating and issued a $150.00 price objective on shares of Argan in a research report on Friday, December 6th.

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.