Huntington National Bank Has $52,000 Position in Argan, Inc. (NYSE:AGX)

Huntington National Bank lessened its position in Argan, Inc. (NYSE:AGX) by 31.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 379 shares of the construction company’s stock after selling 173 shares during the quarter. Huntington National Bank’s holdings in Argan were worth $52,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AGX. Wellington Management Group LLP increased its position in shares of Argan by 81.8% during the 3rd 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 last quarter. Bank of New York Mellon Corp increased its holdings in Argan by 80.3% during the fourth quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company’s stock worth $25,549,000 after buying an additional 83,039 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Argan by 37.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 295,349 shares of the construction company’s stock worth $40,475,000 after acquiring an additional 80,844 shares in the last quarter. American Century Companies Inc. lifted its stake in Argan by 18.1% in the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company’s stock valued at $65,869,000 after acquiring an additional 73,654 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Argan in the 3rd quarter valued at about $6,687,000. Institutional investors own 79.43% of the company’s stock.

Insider Buying and Selling at Argan

In other Argan news, CFO Richard H. Deily sold 2,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at $1,405,050. This represents a 17.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter W. Getsinger sold 7,385 shares of Argan stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total value of $1,220,666.65. Following the sale, the director now directly owns 11,792 shares of the company’s stock, valued at $1,949,099.68. This represents a 38.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital upgraded shares of Argan from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Friday, March 28th.

Argan Trading Up 3.1 %

AGX stock opened at $123.86 on Tuesday. Argan, Inc. has a 1-year low of $48.85 and a 1-year high of $191.46. The business’s 50 day simple moving average is $131.06 and its 200 day simple moving average is $136.72. The firm has a market capitalization of $1.69 billion, a PE ratio of 25.91 and a beta of 0.45.

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

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.