Argan, Inc. (NYSE:AGX) Shares Purchased by Thames Capital Management LLC

Thames Capital Management LLC increased its holdings in Argan, Inc. (NYSE:AGX) by 286.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,384 shares of the construction company’s stock after buying an additional 87,038 shares during the quarter. Argan comprises approximately 4.4% of Thames Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Thames Capital Management LLC owned 0.87% of Argan worth $16,086,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AGX. Spire Wealth Management acquired a new stake in shares of Argan in the fourth quarter worth $26,000. Farther Finance Advisors LLC purchased a new stake in Argan in the fourth quarter valued at $32,000. Global Retirement Partners LLC acquired a new stake in Argan during the 4th quarter worth about $35,000. Truvestments Capital LLC purchased a new position in shares of Argan during the 4th quarter valued at about $57,000. Finally, KBC Group NV acquired a new position in shares of Argan in the 4th quarter valued at about $93,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Argan

In other news, Director Peter W. Getsinger sold 800 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $155.24, for a total transaction of $124,192.00. Following the completion of the sale, the director now owns 19,177 shares of the company’s stock, valued at $2,977,037.48. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard H. Deily sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares of the company’s stock, valued at approximately $1,405,050. This trade represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,185 shares of company stock valued at $1,644,859 in the last three months. 11.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Lake Street Capital raised Argan from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Friday, March 28th.

Argan Stock Performance

Shares of NYSE AGX opened at $120.60 on Friday. Argan, Inc. has a 1 year low of $48.85 and a 1 year high of $191.46. The company’s fifty day moving average price is $131.32 and its 200 day moving average price is $136.19. The company has a market capitalization of $1.64 billion, a PE ratio of 25.23 and a beta of 0.58.

Argan (NYSE:AGX) last posted its earnings results on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $1.07. The firm had revenue of $232.47 million for the quarter, compared to analysts’ expectations of $197.50 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year.

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.