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

Jackson Creek Investment Advisors LLC cut its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 34.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 0.06% of Argan worth $1,131,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Farther Finance Advisors LLC acquired a new stake in Argan in the 4th quarter valued at $32,000. Larson Financial Group LLC increased its position in 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 buying an additional 239 shares during the last quarter. McIlrath & Eck LLC lifted its position in shares of Argan by 419.4% during the 4th 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. Federated Hermes Inc. lifted its position in shares of Argan by 1,123.5% during the 4th quarter. Federated Hermes Inc. now owns 416 shares of the construction company's stock valued at $57,000 after buying an additional 382 shares during the last quarter. Finally, Amundi lifted its position in shares of Argan by 8.6% during the 4th quarter. Amundi now owns 859 shares of the construction company's stock valued at $118,000 after buying an additional 68 shares during the last quarter. 79.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Peter W. Getsinger sold 3,456 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $212.01, for a total transaction of $732,706.56. Following the transaction, the director directly owned 14,895 shares of the company's stock, valued at $3,157,888.95. This represents a 18.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cynthia Flanders sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $220.47, for a total value of $3,307,050.00. Following the transaction, the director directly owned 33,428 shares in the company, valued at approximately $7,369,871.16. The trade was a 30.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,404 shares of company stock valued at $18,221,387. Company insiders own 6.69% of the company's stock.

Argan Stock Performance

AGX traded up $8.23 on Friday, hitting $212.07. 83,588 shares of the company were exchanged, compared to its average volume of 436,403. The firm has a fifty day simple moving average of $206.55 and a two-hundred day simple moving average of $164.05. Argan, Inc. has a 12 month low of $63.53 and a 12 month high of $246.60. The stock has a market capitalization of $2.89 billion, a PE ratio of 29.74 and a beta of 0.54.

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

Argan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 23rd will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.71%. The ex-dividend date is Wednesday, July 23rd. Argan's dividend payout ratio (DPR) is 21.04%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.