Jackson Creek Investment Advisors LLC Sells 4,634 Shares of Argan, Inc. (NYSE:AGX)

Jackson Creek Investment Advisors LLC decreased its position in Argan, Inc. (NYSE:AGX - Free Report) by 34.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,625 shares of the construction company's stock after selling 4,634 shares during the quarter. Jackson Creek Investment Advisors LLC owned 0.06% of Argan worth $1,131,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC bought a new stake in shares of Argan in the fourth quarter valued at approximately $32,000. Larson Financial Group LLC grew its stake in shares of Argan by 2,987.5% in the first quarter. Larson Financial Group LLC now owns 247 shares of the construction company's stock worth $32,000 after purchasing an additional 239 shares during the last quarter. McIlrath & Eck LLC grew its stake in shares of Argan by 419.4% in the fourth quarter. McIlrath & Eck LLC now owns 374 shares of the construction company's stock worth $51,000 after purchasing an additional 302 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Argan by 1,123.5% in the fourth quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock worth $57,000 after purchasing an additional 382 shares during the last quarter. Finally, Amundi grew its holdings in Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company's stock worth $118,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 79.43% of the company's stock.

Insider Buying and Selling

In other news, Director James W. Quinn sold 40,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $207.92, for a total transaction of $8,316,800.00. Following the sale, the director owned 16,557 shares in the company, valued at $3,442,531.44. This represents a 70.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter W. Getsinger sold 3,456 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $212.01, for a total transaction of $732,706.56. Following the sale, the director owned 14,895 shares in the company, valued at approximately $3,157,888.95. The trade was a 18.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,404 shares of company stock valued at $18,221,387 over the last quarter. 6.69% of the stock is currently owned by insiders.

Argan Stock Up 2.2%

NYSE:AGX traded up $4.57 during midday trading on Monday, hitting $211.20. The company had a trading volume of 113,456 shares, compared to its average volume of 359,394. Argan, Inc. has a 52-week low of $63.53 and a 52-week high of $246.60. The stock's fifty day moving average price is $207.94 and its 200-day moving average price is $165.33. The company has a market capitalization of $2.88 billion, a PE ratio of 29.62 and a beta of 0.54.

Argan (NYSE:AGX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The construction company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.51. Argan had a net margin of 11.00% and a return on equity of 29.61%. The business had revenue of $193.66 million during the quarter, compared to analyst estimates of $193.75 million. During the same period in the prior year, the business posted $0.58 earnings per share. The company's revenue was up 22.8% on a year-over-year basis.

Argan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 23rd will be issued a dividend of $0.375 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.71%. Argan's dividend payout ratio is currently 21.04%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AGX shares. Lake Street Capital increased their price target on Argan from $150.00 to $236.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Kepler Capital Markets downgraded Argan from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. initiated coverage on Argan in a research note on Monday. They issued a "neutral" rating and a $220.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $202.00.

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.