Money Concepts Capital Corp Sells 9,307 Shares of Argan, Inc. (NYSE:AGX)

Money Concepts Capital Corp lowered its position in Argan, Inc. (NYSE:AGX - Free Report) by 47.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,431 shares of the construction company's stock after selling 9,307 shares during the period. Money Concepts Capital Corp owned about 0.08% of Argan worth $1,430,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Squarepoint Ops LLC purchased a new position in shares of Argan in the second quarter worth $488,000. Millennium Management LLC lifted its stake in Argan by 27.4% in the 2nd quarter. Millennium Management LLC now owns 107,825 shares of the construction company's stock worth $7,888,000 after purchasing an additional 23,168 shares in the last quarter. Creative Planning grew its position in shares of Argan by 70.6% during the second quarter. Creative Planning now owns 10,095 shares of the construction company's stock valued at $739,000 after purchasing an additional 4,179 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Argan by 76.2% in the second quarter. Truist Financial Corp now owns 12,552 shares of the construction company's stock worth $918,000 after purchasing an additional 5,430 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Argan in the second quarter worth about $2,628,000. Hedge funds and other institutional investors own 79.43% of the company's stock.

Insider Activity at Argan

In related news, CFO Richard H. Deily sold 2,000 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares of the company's stock, valued at $1,405,050. This trade represents a 17.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter W. Getsinger sold 800 shares of the firm'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 transaction of $124,192.00. Following 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 disclosure for this sale can be found here. Insiders sold a total of 20,185 shares of company stock worth $3,105,359 in the last quarter. 11.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AGX shares. Lake Street Capital cut Argan from a "buy" rating to a "hold" rating and raised their price target for the company from $85.00 to $150.00 in a report on Tuesday, December 3rd. CJS Securities reaffirmed a "market perform" rating and set a $150.00 price target on shares of Argan in a research note on Friday, December 6th. Finally, StockNews.com cut shares of Argan from a "buy" rating to a "hold" rating in a research note on Tuesday, October 29th.

Argan Trading Down 0.3 %

NYSE:AGX traded down $0.46 during midday trading on Friday, hitting $161.67. 698,705 shares of the company traded hands, compared to its average volume of 561,946. The firm's fifty day moving average is $150.71 and its 200-day moving average is $121.70. The firm has a market capitalization of $2.19 billion, a P/E ratio of 33.82 and a beta of 0.56. Argan, Inc. has a 12-month low of $44.69 and a 12-month high of $191.46.

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

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 23rd were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Thursday, January 23rd. Argan's dividend payout ratio is currently 31.38%.

About Argan

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.