Argan, Inc. (NYSE:AGX) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its position in Argan, Inc. (NYSE:AGX) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,500 shares of the construction company’s stock after acquiring an additional 1,600 shares during the period. Swiss National Bank’s holdings in Argan were worth $3,632,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Argan by 70.8% in the third quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company’s stock valued at $3,836,000 after purchasing an additional 15,681 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Argan during the third quarter valued at $1,373,000. Victory Capital Management Inc. raised its position in Argan by 28.5% during the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company’s stock valued at $2,400,000 after buying an additional 3,880 shares during the period. State Street Corp boosted its position in Argan by 4.8% during the 3rd quarter. State Street Corp now owns 353,984 shares of the construction company’s stock worth $35,905,000 after acquiring an additional 16,055 shares during the period. Finally, Penn Mutual Asset Management grew its stake in 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 acquiring an additional 6,650 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

Argan Price Performance

Shares of NYSE AGX opened at $127.18 on Wednesday. Argan, Inc. has a one year low of $48.85 and a one year high of $191.46. The business’s 50-day moving average price is $139.16 and its two-hundred day moving average price is $134.37. The company has a market capitalization of $1.73 billion, a P/E ratio of 26.61 and a beta of 0.58.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AGX shares. CJS Securities reissued a “market perform” rating and issued a $150.00 price target on shares of Argan in a research report on Friday, December 6th. Lake Street Capital downgraded shares of Argan from a “buy” rating to a “hold” rating and increased their target price for the stock from $85.00 to $150.00 in a research report on Tuesday, December 3rd.

Insider Activity

In other news, Director Peter W. Getsinger sold 800 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $155.24, for a total transaction of $124,192.00. Following the transaction, the director now owns 19,177 shares of the company’s stock, valued at approximately $2,977,037.48. This represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 9,367 shares of the company’s stock, valued at approximately $1,405,050. This represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,185 shares of company stock worth $1,644,859 in the last three months. 11.85% of the stock is owned by 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.