Royce & Associates LP Sells 82,480 Shares of Argan, Inc. (NYSE:AGX)

Royce & Associates LP trimmed its stake in Argan, Inc. (NYSE:AGX) by 62.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,470 shares of the construction company’s stock after selling 82,480 shares during the quarter. Royce & Associates LP owned 0.36% of Argan worth $6,779,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AGX. Wellington Management Group LLP boosted its stake in Argan by 81.8% in the 3rd quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company’s stock worth $92,408,000 after purchasing an additional 409,948 shares in the last quarter. State Street Corp raised its holdings in Argan by 4.8% in the third quarter. State Street Corp now owns 353,984 shares of the construction company’s stock worth $35,905,000 after buying an additional 16,055 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Argan by 0.5% in the third quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company’s stock worth $29,141,000 after buying an additional 1,553 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Argan by 80.3% during the fourth quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company’s stock valued at $25,549,000 after buying an additional 83,039 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Argan by 72.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,224 shares of the construction company’s stock valued at $11,586,000 after acquiring an additional 47,881 shares in the last quarter. 79.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Argan

In other news, Director Peter W. Getsinger sold 7,385 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 11,792 shares in the company, valued at $1,949,099.68. This represents a 38.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 9,367 shares of the company’s stock, valued at $1,405,050. This trade represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,185 shares of company stock worth $1,644,859. 11.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AGX has been the topic of several recent analyst reports. CJS Securities reiterated a “market perform” rating and set a $150.00 target price on shares of Argan in a research note on Friday, December 6th. Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and increased their price objective for the company from $85.00 to $150.00 in a research report on Tuesday, December 3rd.

Argan Trading Down 3.0 %

Shares of AGX stock opened at $117.43 on Wednesday. Argan, Inc. has a 12-month low of $48.85 and a 12-month high of $191.46. The stock has a market capitalization of $1.59 billion, a P/E ratio of 24.57 and a beta of 0.58. The firm’s 50 day moving average is $142.66 and its 200 day moving average is $132.71.

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.