KLP Kapitalforvaltning AS Invests $1.22 Million in Argan, Inc. (NYSE:AGX)

KLP Kapitalforvaltning AS bought a new stake in Argan, Inc. (NYSE:AGX) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,900 shares of the construction company’s stock, valued at approximately $1,220,000. KLP Kapitalforvaltning AS owned about 0.07% of Argan as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of AGX. Intech Investment Management LLC acquired a new stake in shares of Argan in the third quarter valued at approximately $339,000. D.A. Davidson & CO. bought a new position in Argan in the third quarter valued at $2,446,000. FMR LLC increased its stake in Argan by 68.2% in the 3rd quarter. FMR LLC now owns 1,033 shares of the construction company’s stock valued at $105,000 after buying an additional 419 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Argan by 21.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,009 shares of the construction company’s stock worth $305,000 after buying an additional 532 shares in the last quarter. Finally, Centiva Capital LP boosted its stake in shares of Argan by 9.3% during the 3rd quarter. Centiva Capital LP now owns 6,872 shares of the construction company’s stock worth $697,000 after buying an additional 583 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AGX shares. CJS Securities reaffirmed a “market perform” rating and issued a $150.00 target price on shares of Argan in a research report on Friday, December 6th. Lake Street Capital raised Argan from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Friday.

Argan Price Performance

Shares of AGX opened at $138.81 on Friday. The company has a market cap of $1.88 billion, a PE ratio of 29.04 and a beta of 0.58. The firm has a 50-day moving average of $136.07 and a 200-day moving average of $134.76. Argan, Inc. has a one year low of $48.85 and a one year high of $191.46.

Argan (NYSE:AGX) last posted its quarterly earnings results on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $1.07. The business had revenue of $232.47 million during 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 business’s revenue was up 41.3% compared to the same quarter last year.

Insider Transactions at Argan

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

Argan Company 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.