Sei Investments Co. Sells 44,869 Shares of Argan, Inc. (NYSE:AGX)

Sei Investments Co. lessened its holdings in shares of Argan, Inc. (NYSE:AGX) by 60.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,418 shares of the construction company’s stock after selling 44,869 shares during the quarter. Sei Investments Co.’s holdings in Argan were worth $4,032,000 at the end of the most recent quarter.

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

Insider Transactions at Argan

In related news, Director Peter W. Getsinger sold 7,385 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 11,792 shares of the company’s stock, valued at $1,949,099.68. This trade represents a 38.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 9,367 shares in the company, valued at approximately $1,405,050. The trade was a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,185 shares of company stock worth $1,644,859. Company insiders own 11.85% of the company’s stock.

Argan Stock Performance

NYSE:AGX opened at $137.89 on Thursday. Argan, Inc. has a fifty-two week low of $48.85 and a fifty-two week high of $191.46. The firm has a market cap of $1.88 billion, a PE ratio of 28.85 and a beta of 0.58. The business has a 50 day moving average price of $133.21 and a 200-day moving average price of $135.70.

Argan (NYSE:AGX) last announced its quarterly 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. Argan had a net margin of 8.20% and a return on equity of 21.66%. The business had revenue of $232.47 million during the quarter, compared to analysts’ expectations of $197.50 million. The company’s revenue was up 41.3% compared to the same quarter last year.

Analyst Upgrades and Downgrades

AGX has been the subject of a number of research reports. Lake Street Capital upgraded Argan from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Friday, March 28th. CJS Securities reaffirmed a “market perform” rating and issued a $150.00 target price on shares of Argan in a research note on Friday, December 6th.

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.