Argan, Inc. (NYSE:AGX) Shares Sold by AltraVue Capital LLC

AltraVue Capital LLC decreased its holdings in shares of Argan, Inc. (NYSE:AGX) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 331,152 shares of the construction company’s stock after selling 4,230 shares during the period. Argan makes up about 2.4% of AltraVue Capital LLC’s holdings, making the stock its 17th biggest position. AltraVue Capital LLC owned approximately 2.48% of Argan worth $24,227,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AGX. American Century Companies Inc. grew its holdings in shares of Argan by 31.8% in the 2nd quarter. American Century Companies Inc. now owns 305,298 shares of the construction company’s stock worth $22,336,000 after acquiring an additional 73,658 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Argan by 32.8% in the 2nd quarter. Acadian Asset Management LLC now owns 175,245 shares of the construction company’s stock worth $12,811,000 after acquiring an additional 43,258 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Argan by 7.7% in the 2nd quarter. Renaissance Technologies LLC now owns 537,296 shares of the construction company’s stock worth $39,309,000 after acquiring an additional 38,300 shares during the period. Calamos Advisors LLC acquired a new stake in shares of Argan in the 2nd quarter worth approximately $1,831,000. Finally, L & S Advisors Inc acquired a new stake in shares of Argan in the 2nd quarter worth approximately $1,273,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Argan Stock Performance

AGX stock opened at $88.55 on Thursday. Argan, Inc. has a 1 year low of $39.74 and a 1 year high of $95.73. The stock’s 50 day moving average price is $77.25 and its 200 day moving average price is $67.81. The firm has a market cap of $1.18 billion, a P/E ratio of 31.51 and a beta of 0.51.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, September 5th. The construction company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.34. Argan had a return on equity of 14.80% and a net margin of 6.11%. The company had revenue of $227.02 million for the quarter, compared to analyst estimates of $191.05 million. The company’s quarterly revenue was up 60.6% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AGX. StockNews.com lowered Argan from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th. Lake Street Capital upped their target price on Argan from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, June 7th.

Insiders Place Their Bets

In other Argan news, Director Rainer H. Bosselmann sold 25,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $71.52, for a total transaction of $1,788,000.00. Following the transaction, the director now owns 273,916 shares of the company’s stock, valued at approximately $19,590,472.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Argan news, Director Rainer H. Bosselmann sold 25,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $71.52, for a total transaction of $1,788,000.00. Following the transaction, the director now owns 273,916 shares of the company’s stock, valued at approximately $19,590,472.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rainer H. Bosselmann sold 17,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $69.23, for a total value of $1,176,910.00. Following the transaction, the director now directly owns 247,719 shares in the company, valued at approximately $17,149,586.37. The disclosure for this sale can be found here. Insiders have sold a total of 83,539 shares of company stock valued at $6,341,435 in the last quarter. 11.85% of the stock is currently owned by company insiders.

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.