Victory Capital Management Inc. Acquires 3,880 Shares of Argan, Inc. (NYSE:AGX)

Victory Capital Management Inc. lifted its position in shares of Argan, Inc. (NYSE:AGX - Free Report) by 28.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,515 shares of the construction company's stock after purchasing an additional 3,880 shares during the quarter. Victory Capital Management Inc. owned about 0.13% of Argan worth $2,400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Argan by 70.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company's stock valued at $3,836,000 after buying an additional 15,681 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Argan during the third quarter worth about $1,373,000. State Street Corp grew 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 purchasing an additional 16,055 shares during the period. Penn Mutual Asset Management increased its stake in shares of Argan by 195.6% during the third quarter. Penn Mutual Asset Management now owns 10,050 shares of the construction company's stock valued at $1,019,000 after purchasing an additional 6,650 shares in the last quarter. Finally, Nkcfo LLC purchased a new position in shares of Argan during the fourth quarter valued at approximately $247,000. 79.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Argan

In other Argan news, Director Peter W. Getsinger sold 800 shares of Argan stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $155.24, for a total value of $124,192.00. Following the completion of the sale, the director now owns 19,177 shares of the company's stock, valued at approximately $2,977,037.48. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 9,367 shares in the company, valued at $1,405,050. The trade was a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,185 shares of company stock worth $1,644,859. Insiders own 11.85% of the company's stock.

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Argan Stock Performance

Shares of NYSE:AGX traded down $1.22 during trading on Thursday, reaching $120.63. 100,217 shares of the stock traded hands, compared to its average volume of 257,867. The stock has a market cap of $1.64 billion, a P/E ratio of 25.24 and a beta of 0.58. The stock has a 50-day moving average of $141.98 and a two-hundred day moving average of $132.64. Argan, Inc. has a 52-week low of $48.85 and a 52-week high of $191.46.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Lake Street Capital downgraded Argan from a "buy" rating to a "hold" rating and upped their price target for the stock from $85.00 to $150.00 in a research note on Tuesday, December 3rd. CJS Securities restated a "market perform" rating and set a $150.00 price target on shares of Argan in a report on Friday, December 6th.

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.