Argan, Inc. $AGX Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in Argan, Inc. (NYSE:AGX) by 0.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 435,761 shares of the construction company’s stock after purchasing an additional 4,027 shares during the quarter. Dimensional Fund Advisors LP owned 3.15% of Argan worth $117,677,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AGX. First Trust Advisors LP increased its position in shares of Argan by 14,436.3% during the 2nd quarter. First Trust Advisors LP now owns 329,393 shares of the construction company’s stock worth $72,624,000 after purchasing an additional 327,127 shares during the last quarter. State Street Corp boosted its stake in Argan by 1.7% during the second quarter. State Street Corp now owns 324,356 shares of the construction company’s stock worth $71,514,000 after buying an additional 5,575 shares during the period. Geode Capital Management LLC boosted its stake in Argan by 3.9% during the second quarter. Geode Capital Management LLC now owns 314,453 shares of the construction company’s stock worth $69,339,000 after buying an additional 11,788 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Argan by 696.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 296,988 shares of the construction company’s stock valued at $65,480,000 after acquiring an additional 259,720 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of Argan by 168.9% during the second quarter. Balyasny Asset Management L.P. now owns 253,365 shares of the construction company’s stock valued at $55,862,000 after acquiring an additional 159,149 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

Argan Price Performance

NYSE:AGX opened at $473.14 on Thursday. Argan, Inc. has a 12 month low of $110.23 and a 12 month high of $484.13. The firm has a market capitalization of $6.56 billion, a PE ratio of 55.73 and a beta of 0.57. The business’s fifty day moving average price is $386.26 and its 200 day moving average price is $327.58.

Wall Street Analyst Weigh In

AGX has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Argan in a research report on Wednesday, December 24th. Zacks Research lowered Argan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $370.00 price target (up from $315.00) on shares of Argan in a research report on Monday, December 1st. Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and lifted their price objective for the company from $260.00 to $325.00 in a research note on Friday, December 5th. Finally, CJS Securities upgraded Argan to a “hold” rating in a report on Thursday, December 11th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $355.20.

Insiders Place Their Bets

In related news, Director Peter W. Getsinger sold 6,595 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $313.71, for a total value of $2,068,917.45. Following the completion of the transaction, the director directly owned 7,847 shares of the company’s stock, valued at $2,461,682.37. This represents a 45.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Ronald Jr. Jeffrey sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $360.78, for a total transaction of $1,803,900.00. Following the completion of the transaction, the director owned 8,192 shares in the company, valued at $2,955,509.76. This represents a 37.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 54,915 shares of company stock valued at $19,854,754. 6.69% of the stock is owned by insiders.

Argan Company Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.