Sei Investments Co. Has $4.03 Million Stake in Argan, Inc. (NYSE:AGX)

Sei Investments Co. reduced its holdings in Argan, Inc. (NYSE:AGX) by 60.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,418 shares of the construction company’s stock after selling 44,869 shares during the quarter. Sei Investments Co. owned 0.22% of Argan worth $4,032,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Spire Wealth Management acquired a new stake in Argan during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC bought a new stake in Argan in the 4th quarter valued at $32,000. Global Retirement Partners LLC acquired a new position in Argan in the 4th quarter worth $35,000. Truvestments Capital LLC acquired a new position in shares of Argan during the fourth quarter worth about $57,000. Finally, KBC Group NV bought a new stake in Argan in the 4th quarter valued at approximately $93,000. Institutional investors and hedge funds own 79.43% of the company’s stock.

Insider Buying and Selling at Argan

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total value of $1,220,666.65. Following the transaction, the director now owns 11,792 shares in the company, valued at approximately $1,949,099.68. This represents a 38.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares in the company, valued at approximately $1,405,050. The trade was a 17.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,185 shares of company stock valued at $1,644,859. 11.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Lake Street Capital upgraded shares of Argan from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Friday, March 28th. CJS Securities reissued a “market perform” rating and set a $150.00 price target on shares of Argan in a research report on Friday, December 6th.

Argan Stock Up 2.6 %

NYSE AGX opened at $137.89 on Thursday. The firm has a 50-day moving average price of $133.21 and a two-hundred day moving average price of $135.70. Argan, Inc. has a 12-month low of $48.85 and a 12-month high of $191.46. The company has a market capitalization of $1.88 billion, a P/E ratio of 28.85 and a beta of 0.58.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $1.07. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. The business’s revenue for the quarter was up 41.3% on a year-over-year basis.

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.