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

Intech Investment Management LLC lifted its holdings in Argan, Inc. (NYSE:AGX) by 95.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 SEC.

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

Argan Stock Performance

Shares of NYSE:AGX opened at $120.79 on Monday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 25.27 and a beta of 0.58. Argan, Inc. has a 1-year low of $48.85 and a 1-year high of $191.46. The company has a 50 day moving average price of $140.50 and a 200 day moving average price of $133.70.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AGX. Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and lifted their price target 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 target price on shares of Argan in a report on Friday, December 6th.

Insider Transactions at Argan

In other Argan news, CFO Richard H. Deily sold 2,000 shares of the business’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 sale, the chief financial officer now owns 9,367 shares in the company, valued at approximately $1,405,050. The trade was a 17.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter W. Getsinger sold 7,385 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total transaction 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 ownership of the stock. 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 corporate insiders.

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.