American Century Companies Inc. Purchases 73,654 Shares of Argan, Inc. (NYSE:AGX)

American Century Companies Inc. increased its position in Argan, Inc. (NYSE:AGX) by 18.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 480,658 shares of the construction company’s stock after acquiring an additional 73,654 shares during the quarter. American Century Companies Inc.’s holdings in Argan were worth $65,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of AGX. Spire Wealth Management purchased a new position in Argan in the fourth quarter worth about $26,000. Farther Finance Advisors LLC purchased a new stake in shares of Argan during the 4th quarter valued at about $32,000. Global Retirement Partners LLC bought a new position in shares of Argan in the 4th quarter worth approximately $35,000. Truvestments Capital LLC purchased a new position in shares of Argan in the fourth quarter worth approximately $57,000. Finally, KBC Group NV bought a new stake in Argan during the fourth quarter valued at approximately $93,000. Institutional investors own 79.43% of the company’s stock.

Argan Trading Down 1.6 %

Shares of NYSE:AGX opened at $127.18 on Wednesday. Argan, Inc. has a 12-month low of $48.85 and a 12-month high of $191.46. The company has a market cap of $1.73 billion, a PE ratio of 26.61 and a beta of 0.58. The stock has a 50 day moving average of $139.16 and a 200 day moving average of $134.37.

Insider Activity

In other Argan news, Director Peter W. Getsinger sold 800 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $155.24, for a total value of $124,192.00. Following the completion of the sale, the director now owns 19,177 shares in the company, valued at approximately $2,977,037.48. This represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 10,185 shares of company stock worth $1,644,859 in the last three months. Company insiders own 11.85% of the company’s stock.

Analyst Upgrades and Downgrades

AGX has been the topic of several recent research reports. Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and increased their price target for the stock from $85.00 to $150.00 in a research report on Tuesday, December 3rd. CJS Securities reaffirmed a “market perform” rating and issued a $150.00 target price on shares of Argan in a report on Friday, December 6th.

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.