Argan, Inc. (NYSE:AGX) Shares Sold by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC reduced its stake in shares of Argan, Inc. (NYSE:AGX - Free Report) by 21.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,343 shares of the construction company's stock after selling 9,229 shares during the quarter. Abacus FCF Advisors LLC owned about 0.24% of Argan worth $4,374,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AGX. Spire Wealth Management bought a new position in Argan during the fourth quarter valued at $26,000. Farther Finance Advisors LLC bought a new position in shares of Argan during the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC bought a new position in shares of Argan during the fourth quarter valued at approximately $35,000. McIlrath & Eck LLC grew its stake in shares of Argan by 419.4% during the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock valued at $51,000 after buying an additional 302 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Argan during the fourth quarter valued at approximately $57,000. 79.43% of the stock is owned by institutional investors.

Argan Stock Down 1.9%

NYSE:AGX traded down $4.17 during midday trading on Friday, hitting $217.95. The stock had a trading volume of 381,612 shares, compared to its average volume of 340,047. Argan, Inc. has a one year low of $63.53 and a one year high of $246.60. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 45.60 and a beta of 0.55. The stock has a 50-day moving average of $175.94 and a 200 day moving average of $153.37.

Argan (NYSE:AGX - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The construction company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.51. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company had revenue of $193.66 million for the quarter, compared to analysts' expectations of $193.75 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. Argan's revenue was up 22.8% compared to the same quarter last year.

Argan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 22nd were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, April 22nd. Argan's payout ratio is 21.04%.

Analyst Ratings Changes

A number of research analysts have recently commented on AGX shares. Lake Street Capital upped their target price on Argan from $150.00 to $236.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Kepler Capital Markets cut shares of Argan from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th.

Insider Buying and Selling at Argan

In other news, Director Peter W. Getsinger sold 2,292 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $150.35, for a total value of $344,602.20. Following the sale, the director now directly owns 9,500 shares in the company, valued at approximately $1,428,325. This trade represents a 19.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard H. Deily sold 1,565 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $152.32, for a total value of $238,380.80. Following the completion of the sale, the chief financial officer now directly owns 7,802 shares of the company's stock, valued at $1,188,400.64. The trade was a 16.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,585 shares of company stock valued at $12,666,783. 6.69% of the stock is currently owned by corporate insiders.

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.