L & S Advisors Inc Sells 5,682 Shares of Argan, Inc. (NYSE:AGX)

L & S Advisors Inc trimmed its position in shares of Argan, Inc. (NYSE:AGX) by 37.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,518 shares of the construction company’s stock after selling 5,682 shares during the quarter. L & S Advisors Inc’s holdings in Argan were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission.

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

Argan Stock Up 20.5 %

Shares of AGX stock opened at $138.81 on Friday. Argan, Inc. has a 12 month low of $48.85 and a 12 month high of $191.46. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 29.04 and a beta of 0.58. The stock has a 50-day moving average price of $136.07 and a 200 day moving average price of $134.76.

Argan (NYSE:AGX) last posted 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 business had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. The firm’s revenue for the quarter was up 41.3% on a year-over-year basis.

Analyst Ratings Changes

A number of equities research analysts have commented on AGX shares. Lake Street Capital raised 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. CJS Securities restated a “market perform” rating and issued a $150.00 price objective on shares of Argan in a research report on Friday, December 6th.

Insider Activity

In related news, Director Peter W. Getsinger sold 7,385 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,949,099.68. This represents a 38.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Richard H. Deily sold 2,000 shares of the firm’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 approximately $1,405,050. This trade represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,185 shares of company stock valued at $1,644,859 in the last 90 days. 11.85% of the stock is owned by company insiders.

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.