Argan, Inc. (AGX) Stake Maintained by Barings LLC

Barings LLC maintained its position in Argan, Inc. (NYSE:AGX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,600 shares of the construction company’s stock at the end of the first quarter. Barings LLC’s holdings in Argan were worth $503,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Creative Planning increased its position in Argan by 2,480.0% in the first quarter. Creative Planning now owns 2,580 shares of the construction company’s stock valued at $171,000 after buying an additional 2,480 shares during the period. Martingale Asset Management L P acquired a new stake in Argan during the fourth quarter worth $213,000. Mckinley Capital Management LLC Delaware boosted its stake in Argan by 30.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 3,174 shares of the construction company’s stock worth $210,000 after buying an additional 749 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Argan during the first quarter worth $210,000. Finally, Koch Industries Inc. acquired a new stake in Argan during the first quarter worth $235,000. Institutional investors and hedge funds own 86.46% of the company’s stock.

Shares of Argan, Inc. (AGX) opened at 60.90 on Monday. The company’s 50-day moving average price is $62.97 and its 200-day moving average price is $67.83. Argan, Inc. has a 12-month low of $43.65 and a 12-month high of $76.70. The firm has a market capitalization of $945.11 million, a PE ratio of 12.22 and a beta of 0.91.

Argan (NYSE:AGX) last announced its quarterly earnings results on Wednesday, June 7th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.42. The company had revenue of $230.49 million during the quarter, compared to the consensus estimate of $183.10 million. Argan had a net margin of 10.15% and a return on equity of 27.78%. The firm’s revenue for the quarter was up 76.8% compared to the same quarter last year. Analysts anticipate that Argan, Inc. will post $4.23 EPS for the current year.

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A number of equities research analysts recently weighed in on AGX shares. Lake Street Capital raised their price target on Argan from $70.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, June 8th. Sidoti started coverage on Argan in a report on Wednesday, June 28th. They set a “neutral” rating for the company.

In related news, Director Henry A. Crumpton sold 30,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $62.24, for a total value of $1,867,200.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at $1,244,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James W. Quinn sold 10,000 shares of the stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $66.17, for a total value of $661,700.00. Following the completion of the sale, the director now owns 56,396 shares of the company’s stock, valued at $3,731,723.32. The disclosure for this sale can be found here. Insiders sold 51,650 shares of company stock valued at $3,296,992 over the last 90 days. 9.50% of the stock is currently owned by company insiders.

Argan Company Profile

Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.

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Institutional Ownership by Quarter for Argan (NYSE:AGX)

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