Seizert Capital Partners LLC Has $230,000 Stake in Argan, Inc. (NYSE:AGX)

Seizert Capital Partners LLC trimmed its position in shares of Argan, Inc. (NYSE:AGX) by 59.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,679 shares of the construction company’s stock after selling 2,483 shares during the period. Seizert Capital Partners LLC’s holdings in Argan were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Argan by 81.8% during the third quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company’s stock worth $92,408,000 after purchasing an additional 409,948 shares during the period. State Street Corp boosted its position in shares of Argan by 4.8% in the third quarter. State Street Corp now owns 353,984 shares of the construction company’s stock valued at $35,905,000 after acquiring an additional 16,055 shares during the period. Geode Capital Management LLC boosted its position in shares of Argan by 0.5% in the third quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company’s stock valued at $29,141,000 after acquiring an additional 1,553 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Argan by 80.3% in the fourth quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company’s stock valued at $25,549,000 after acquiring an additional 83,039 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Argan by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,224 shares of the construction company’s stock valued at $11,586,000 after acquiring an additional 47,881 shares during the period. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Richard H. Deily sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 9,367 shares of the company’s stock, valued at $1,405,050. This represents a 17.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David Hibbert Watson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $146.05, for a total value of $1,460,500.00. Following the completion of the transaction, the chief executive officer now directly owns 51,291 shares of the company’s stock, valued at $7,491,050.55. This represents a 16.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,185 shares of company stock valued at $3,105,359. 11.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AGX. Lake Street Capital cut shares of Argan from a “buy” rating to a “hold” rating and boosted their target price for the company from $85.00 to $150.00 in a research report on Tuesday, December 3rd. CJS Securities reaffirmed a “market perform” rating and set a $150.00 price objective on shares of Argan in a research report on Friday, December 6th.

Argan Stock Up 4.5 %

AGX opened at $126.13 on Thursday. Argan, Inc. has a twelve month low of $46.97 and a twelve month high of $191.46. The company has a 50-day simple moving average of $148.00 and a 200 day simple moving average of $129.84. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 26.39 and a beta of 0.56.

Argan (NYSE:AGX) last posted its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.74. The business had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $225.60 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company’s quarterly revenue was up 56.9% compared to the same quarter last year.

Argan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 23rd were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, January 23rd. Argan’s payout ratio is 31.38%.

About Argan

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.