AlphaQuest LLC Has $311,000 Holdings in Argan, Inc. (NYSE:AGX)

AlphaQuest LLC raised its position in shares of Argan, Inc. (NYSE:AGX) by 375.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,266 shares of the construction company’s stock after acquiring an additional 1,789 shares during the period. AlphaQuest LLC’s holdings in Argan were worth $311,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Entropy Technologies LP grew its position in Argan by 108.6% during the 3rd quarter. Entropy Technologies LP now owns 7,104 shares of the construction company’s stock worth $721,000 after acquiring an additional 3,699 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Argan by 70.8% during the third quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company’s stock worth $3,836,000 after purchasing an additional 15,681 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Argan in the third quarter valued at $1,373,000. State Street Corp raised its holdings in shares of Argan by 4.8% in the third 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 during the last quarter. Finally, Penn Mutual Asset Management raised its holdings in shares of Argan by 195.6% in the third 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 during the last quarter. Institutional investors own 79.43% of the company’s stock.

Insider Transactions at Argan

In other news, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,367 shares in the company, valued at approximately $1,405,050. The trade was a 17.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Hibbert Watson sold 10,000 shares of the stock in a transaction that occurred on 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 owns 51,291 shares in the company, valued at $7,491,050.55. This represents a 16.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,185 shares of company stock worth $3,105,359 in the last quarter. 11.85% of the stock is owned by company insiders.

Argan Stock Up 6.3 %

Shares of AGX opened at $120.67 on Friday. The stock’s fifty day simple moving average is $144.01 and its 200-day simple moving average is $131.37. The firm has a market capitalization of $1.64 billion, a PE ratio of 25.24 and a beta of 0.58. Argan, Inc. has a 12-month low of $48.19 and a 12-month high of $191.46.

Analyst Upgrades and Downgrades

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

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.