Value Aligned Research Advisors LLC Purchases 115,188 Shares of Argan, Inc. $AGX

Value Aligned Research Advisors LLC increased its position in Argan, Inc. (NYSE:AGX) by 104.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 225,750 shares of the construction company’s stock after purchasing an additional 115,188 shares during the period. Argan accounts for about 0.7% of Value Aligned Research Advisors LLC’s holdings, making the stock its 29th biggest position. Value Aligned Research Advisors LLC’s holdings in Argan were worth $60,964,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AGX. Aster Capital Management DIFC Ltd purchased a new stake in Argan during the third quarter valued at about $25,000. Danske Bank A S purchased a new position in Argan in the 3rd quarter valued at approximately $27,000. Accredited Wealth Management LLC bought a new stake in Argan during the 3rd quarter valued at $32,000. National Bank of Canada FI raised its holdings in Argan by 26.7% during the 3rd quarter. National Bank of Canada FI now owns 147 shares of the construction company’s stock valued at $40,000 after acquiring an additional 31 shares during the period. Finally, Palisade Asset Management LLC purchased a new stake in shares of Argan during the third quarter worth $41,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AGX. Zacks Research cut Argan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. CJS Securities raised Argan to a “hold” rating in a report on Thursday, December 11th. Freedom Capital upgraded Argan to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Argan in a research report on Wednesday, December 24th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $370.00 price target (up from $315.00) on shares of Argan in a report on Monday, December 1st. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $355.20.

Argan Price Performance

AGX opened at $470.86 on Thursday. The firm has a market capitalization of $6.53 billion, a P/E ratio of 55.46 and a beta of 0.57. Argan, Inc. has a one year low of $111.16 and a one year high of $485.70. The company has a fifty day moving average price of $399.97 and a 200-day moving average price of $335.79.

Insiders Place Their Bets

In other news, Director Peter W. Getsinger sold 6,595 shares of Argan stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $313.71, for a total transaction of $2,068,917.45. Following the completion of the sale, the director owned 7,847 shares in the company, valued at approximately $2,461,682.37. This trade represents a 45.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cynthia Flanders sold 19,000 shares of Argan stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $386.70, for a total value of $7,347,300.00. Following the sale, the director owned 26,207 shares of the company’s stock, valued at approximately $10,134,246.90. This trade represents a 42.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 54,915 shares of company stock valued at $19,854,754 in the last ninety days. Corporate insiders own 6.69% of the company’s stock.

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.