Argan, Inc. (NYSE:AGX) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC increased its position in Argan, Inc. (NYSE:AGX) by 95.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,543 shares of the construction company’s stock after purchasing an additional 3,199 shares during the quarter. Intech Investment Management LLC’s holdings in Argan were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Argan by 81.8% in the 3rd quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company’s stock valued at $92,408,000 after buying an additional 409,948 shares during the last quarter. State Street Corp boosted its holdings in 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 purchasing an additional 16,055 shares during the last quarter. Geode Capital Management LLC grew its stake in Argan by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company’s stock valued at $29,141,000 after purchasing an additional 1,553 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Argan by 80.3% during the 4th quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company’s stock worth $25,549,000 after purchasing an additional 83,039 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Argan by 46.6% in the 3rd quarter. Barclays PLC now owns 66,341 shares of the construction company’s stock valued at $6,728,000 after purchasing an additional 21,094 shares in the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on AGX shares. Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and raised their price target for the stock from $85.00 to $150.00 in a research report on Tuesday, December 3rd. CJS Securities reissued a “market perform” rating and set a $150.00 price objective on shares of Argan in a report on Friday, December 6th.

Insider Activity at Argan

In other Argan news, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 9,367 shares in the company, valued at $1,405,050. The trade was a 17.59 % 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, Director Peter W. Getsinger sold 7,385 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the completion of the transaction, the director now owns 11,792 shares in the company, valued at approximately $1,949,099.68. The trade was a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,185 shares of company stock valued at $1,644,859. Corporate insiders own 11.85% of the company’s stock.

Argan Stock Up 0.2 %

NYSE:AGX opened at $120.79 on Monday. The company has a market cap of $1.64 billion, a PE ratio of 25.27 and a beta of 0.58. The business’s 50 day moving average is $140.50 and its two-hundred day moving average is $133.70. Argan, Inc. has a 52 week low of $48.85 and a 52 week high of $191.46.

Argan 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.