Great Lakes Advisors LLC Buys 5,604 Shares of Argan, Inc. (NYSE:AGX)

Great Lakes Advisors LLC boosted its stake in Argan, Inc. (NYSE:AGX) by 43.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,444 shares of the construction company’s stock after acquiring an additional 5,604 shares during the quarter. Great Lakes Advisors LLC’s holdings in Argan were worth $2,528,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new stake in Argan in the 4th quarter valued at $57,000. Farther Finance Advisors LLC acquired a new stake in Argan in the 4th quarter valued at $32,000. PFG Advisors acquired a new stake in Argan in the 4th quarter valued at $291,000. HighTower Advisors LLC acquired a new stake in Argan in the 4th quarter valued at $333,000. Finally, AlphaQuest LLC increased its stake in Argan by 375.1% in the 4th quarter. AlphaQuest LLC now owns 2,266 shares of the construction company’s stock valued at $311,000 after buying an additional 1,789 shares during the last quarter. 79.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Argan

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were 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 of the company’s stock, valued at $1,949,099.68. The trade was a 38.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David Hibbert Watson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $146.05, for a total transaction of $1,460,500.00. Following the completion of the sale, the chief executive officer now directly owns 51,291 shares of the company’s stock, valued at $7,491,050.55. This represents a 16.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,185 shares of company stock valued at $3,105,359 in the last quarter. Company insiders own 11.85% of the company’s stock.

Argan Stock Performance

Shares of AGX stock opened at $120.67 on Friday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 25.24 and a beta of 0.58. The company has a 50-day simple moving average of $144.01 and a 200 day simple moving average of $131.75. Argan, Inc. has a 52 week low of $48.85 and a 52 week high of $191.46.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. CJS Securities reiterated a “market perform” rating and issued a $150.00 price target on shares of Argan in a research note on Friday, December 6th. Lake Street Capital lowered shares of Argan from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $85.00 to $150.00 in a research note on Tuesday, December 3rd.

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.