Charles Schwab Investment Management Inc. lowered its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 13.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,635 shares of the construction company's stock after selling 21,893 shares during the period. Charles Schwab Investment Management Inc. owned about 1.06% of Argan worth $19,684,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management purchased a new stake in Argan during the 4th quarter valued at $26,000. Global Retirement Partners LLC purchased a new stake in shares of Argan in the 4th quarter worth about $35,000. KBC Group NV purchased a new stake in shares of Argan in the 4th quarter worth about $93,000. FMR LLC lifted its position in shares of Argan by 68.2% in the 3rd quarter. FMR LLC now owns 1,033 shares of the construction company's stock worth $105,000 after purchasing an additional 419 shares during the period. Finally, Private Trust Co. NA purchased a new stake in shares of Argan in the 4th quarter worth about $151,000. Hedge funds and other institutional investors own 79.43% of the company's stock.
Wall Street Analysts Forecast Growth
AGX has been the subject of several research analyst reports. CJS Securities reaffirmed a "market perform" rating and issued a $150.00 target price on shares of Argan in a research report on Friday, December 6th. Lake Street Capital cut shares of Argan from a "buy" rating to a "hold" rating and raised their target price for the stock from $85.00 to $150.00 in a research report on Tuesday, December 3rd.
View Our Latest Report on AGX
Argan Stock Up 0.2 %
Shares of NYSE:AGX traded up $0.20 on Friday, hitting $120.79. The company had a trading volume of 360,129 shares, compared to its average volume of 260,809. The firm's 50-day simple moving average is $140.50 and its two-hundred day simple moving average is $133.26. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 25.27 and a beta of 0.58. Argan, Inc. has a 1 year low of $48.85 and a 1 year high of $191.46.
Insider Buying and Selling
In related news, CFO Richard H. Deily sold 2,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value 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 $1,405,050. This trade represents a 17.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter W. Getsinger sold 7,385 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the completion of the transaction, the director now owns 11,792 shares of the company's stock, valued at approximately $1,949,099.68. The trade was a 38.51 % decrease in their ownership of the stock. 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 corporate insiders.
Argan Company Profile
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Free Report)
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.
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