PFG Advisors Purchases Shares of 2,126 Argan, Inc. (NYSE:AGX)

PFG Advisors purchased a new stake in Argan, Inc. (NYSE:AGX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,126 shares of the construction company’s stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AGX. JPMorgan Chase & Co. raised its holdings in shares of Argan by 70.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company’s stock valued at $3,836,000 after buying an additional 15,681 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Argan during the 3rd quarter valued at about $1,373,000. State Street Corp raised its holdings in shares of Argan by 4.8% during the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company’s stock valued at $35,905,000 after buying an additional 16,055 shares in the last quarter. Penn Mutual Asset Management raised its holdings in shares of Argan by 195.6% during the 3rd quarter. Penn Mutual Asset Management now owns 10,050 shares of the construction company’s stock valued at $1,019,000 after buying an additional 6,650 shares in the last quarter. Finally, Nkcfo LLC purchased a new position in shares of Argan during the 4th quarter valued at about $247,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AGX shares. 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. Lake Street Capital lowered 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.

Insider Buying and Selling

In other news, CEO David Hibbert Watson sold 10,000 shares of Argan stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $146.05, for a total value of $1,460,500.00. Following the sale, the chief executive officer now directly owns 51,291 shares in the company, valued at approximately $7,491,050.55. This trade represents a 16.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter W. Getsinger sold 7,385 shares of Argan stock in a transaction that occurred 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 completion of the sale, the director now owns 11,792 shares in the company, valued at approximately $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 have sold a total of 20,185 shares of company stock worth $3,105,359 in the last ninety days. 11.85% of the stock is owned by insiders.

Argan Price Performance

AGX opened at $120.67 on Friday. The stock’s 50 day simple moving average is $144.01 and its 200 day simple moving average is $131.75. Argan, Inc. has a 1 year low of $48.85 and a 1 year high of $191.46. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 25.24 and a beta of 0.58.

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.