Seizert Capital Partners LLC Decreases Stock Holdings in Argan, Inc. (NYSE:AGX)

Seizert Capital Partners LLC lowered its stake in shares of Argan, Inc. (NYSE:AGX - Free Report) by 59.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,679 shares of the construction company's stock after selling 2,483 shares during the period. Seizert Capital Partners LLC's holdings in Argan were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of Argan by 28.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company's stock valued at $2,400,000 after buying an additional 3,880 shares during the last quarter. Private Trust Co. NA bought a new stake in Argan in the fourth quarter worth $151,000. Proficio Capital Partners LLC bought a new stake in Argan in the fourth quarter worth $2,272,000. Bank of New York Mellon Corp increased its position 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 purchasing an additional 83,039 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Argan in the fourth quarter worth $443,000. Institutional investors own 79.43% of the company's stock.

Insider Activity

In related news, CFO Richard H. Deily sold 2,000 shares of the company'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 completion of the sale, the chief financial officer now directly owns 9,367 shares of the company's stock, valued at $1,405,050. This represents a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Hibbert Watson sold 10,000 shares of the company's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $146.05, for a total transaction of $1,460,500.00. Following the completion of the sale, the chief executive officer now directly owns 51,291 shares of the company's stock, valued at approximately $7,491,050.55. This trade represents a 16.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,185 shares of company stock valued at $3,105,359. 11.85% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AGX shares. CJS Securities restated a "market perform" rating and issued a $150.00 price target on shares of Argan in a research report on Friday, December 6th. Lake Street Capital cut shares of Argan from a "buy" rating to a "hold" rating and boosted their price objective for the company from $85.00 to $150.00 in a research report on Tuesday, December 3rd.

Argan Stock Performance

AGX stock traded down $2.71 during mid-day trading on Friday, reaching $113.57. 474,148 shares of the stock traded hands, compared to its average volume of 458,522. Argan, Inc. has a one year low of $47.42 and a one year high of $191.46. The stock has a market capitalization of $1.54 billion, a PE ratio of 23.76 and a beta of 0.58. The business has a 50-day moving average price of $146.83 and a two-hundred day moving average price of $130.43.

Argan (NYSE:AGX - Get Free Report) last issued its earnings results on Thursday, December 5th. The construction company reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm's quarterly revenue was up 56.9% compared to the same quarter last year.

Argan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders 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 1.32%. The ex-dividend date was Thursday, January 23rd. Argan's dividend payout ratio is currently 31.38%.

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.