Jackson Creek Investment Advisors LLC Sells 3,714 Shares of Argan, Inc. $AGX

Jackson Creek Investment Advisors LLC lessened its stake in Argan, Inc. (NYSE:AGX) by 37.9% in the fourth quarter, HoldingsChannel reports. The firm owned 6,077 shares of the construction company’s stock after selling 3,714 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in Argan were worth $1,904,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in shares of Argan by 69.8% in the third quarter. First Trust Advisors LP now owns 559,466 shares of the construction company’s stock worth $151,084,000 after acquiring an additional 230,073 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Argan by 168.9% in the second quarter. Balyasny Asset Management L.P. now owns 253,365 shares of the construction company’s stock worth $55,862,000 after acquiring an additional 159,149 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Argan by 172.5% in the second quarter. Invesco Ltd. now owns 229,893 shares of the construction company’s stock worth $50,687,000 after acquiring an additional 145,516 shares in the last quarter. TD Asset Management Inc bought a new stake in shares of Argan in the third quarter worth about $35,629,000. Finally, Epoch Investment Partners Inc. bought a new stake in shares of Argan in the third quarter worth about $34,647,000. Institutional investors own 79.43% of the company’s stock.

Argan Stock Performance

NYSE:AGX opened at $673.63 on Wednesday. The company has a market cap of $9.40 billion, a PE ratio of 69.16 and a beta of 0.61. Argan, Inc. has a 52-week low of $193.82 and a 52-week high of $748.50. The stock has a 50-day simple moving average of $602.52 and a 200 day simple moving average of $450.16.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, March 26th. The construction company reported $3.47 EPS for the quarter, beating the consensus estimate of $1.99 by $1.48. The firm had revenue of $262.05 million during the quarter, compared to analysts’ expectations of $255.32 million. Argan had a return on equity of 33.62% and a net margin of 14.59%.The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.22 earnings per share. On average, research analysts predict that Argan, Inc. will post 11.44 earnings per share for the current fiscal year.

Argan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Wednesday, April 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, April 22nd. Argan’s dividend payout ratio (DPR) is currently 20.53%.

Argan declared that its board has authorized a share buyback plan on Wednesday, April 8th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Lake Street Capital increased their price target on Argan from $325.00 to $375.00 and gave the stock a “hold” rating in a report on Friday, March 27th. The Goldman Sachs Group increased their price target on Argan from $399.00 to $518.00 and gave the stock a “buy” rating in a report on Friday, March 27th. JPMorgan Chase & Co. upgraded Argan from a “neutral” rating to an “overweight” rating and set a $550.00 price target for the company in a report on Friday, March 27th. Weiss Ratings restated a “buy (b)” rating on shares of Argan in a report on Monday, April 6th. Finally, Wall Street Zen upgraded Argan from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Argan currently has an average rating of “Moderate Buy” and a consensus price target of $425.40.

Insider Transactions at Argan

In other Argan news, Director William F. Leimkuhler sold 8,444 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $598.49, for a total value of $5,053,649.56. Following the completion of the transaction, the director directly owned 41,495 shares in the company, valued at $24,834,342.55. This trade represents a 16.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Edwin Iv Collins sold 11,068 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $621.61, for a total value of $6,879,979.48. Following the completion of the transaction, the chief executive officer owned 30,320 shares of the company’s stock, valued at approximately $18,847,215.20. This represents a 26.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 64,543 shares of company stock valued at $39,054,956. 6.69% of the stock is owned by insiders.

About Argan

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.