Argan, Inc. (NYSE:AGX) Stock Holdings Lowered by Sei Investments Co.

Sei Investments Co. cut its holdings in shares of Argan, Inc. (NYSE:AGX - Free Report) by 60.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,418 shares of the construction company's stock after selling 44,869 shares during the period. Sei Investments Co. owned 0.22% of Argan worth $4,032,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Argan by 81.8% during the 3rd quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company's stock valued at $92,408,000 after acquiring an additional 409,948 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in 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 worth $25,549,000 after acquiring an additional 83,039 shares in the last quarter. American Century Companies Inc. boosted its holdings in Argan by 18.1% in 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 in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Argan during the third quarter worth about $6,687,000. Finally, WCM Investment Management LLC acquired a new position in shares of Argan during the fourth quarter valued at about $8,241,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Argan

In related news, CFO Richard H. Deily sold 2,000 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was 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 in the company, valued at $1,405,050. The trade was a 17.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter W. Getsinger sold 800 shares of the company's stock in a transaction 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 owns 19,177 shares of the company's stock, valued at approximately $2,977,037.48. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,185 shares of company stock worth $1,644,859 over the last three months. Insiders own 11.85% of the company's stock.

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Wall Street Analyst Weigh In

Separately, 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 research report on Friday, March 28th.

Argan Trading Up 3.1 %

NYSE AGX traded up $3.78 on Monday, reaching $123.86. 644,147 shares of the company were exchanged, compared to its average volume of 284,643. The business's fifty day moving average price is $131.06 and its 200 day moving average price is $136.72. The stock has a market capitalization of $1.69 billion, a P/E ratio of 25.91 and a beta of 0.45. Argan, Inc. has a fifty-two week low of $48.85 and a fifty-two week high of $191.46.

Argan (NYSE:AGX - Get Free Report) last posted its earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.15 by $1.07. The firm had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 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 41.3% compared to the same quarter last year.

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.