Ameriprise Financial Inc. reduced its position in Argan, Inc. (NYSE:AGX) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,332 shares of the construction company’s stock after selling 2,506 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.52% of Argan worth $5,472,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Aperio Group LLC boosted its position in shares of Argan by 2.8% during the second quarter. Aperio Group LLC now owns 3,808 shares of the construction company’s stock worth $228,000 after buying an additional 102 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Argan by 4.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 69,514 shares of the construction company’s stock worth $4,171,000 after buying an additional 2,798 shares during the period. Rhumbline Advisers boosted its position in shares of Argan by 7.1% during the second quarter. Rhumbline Advisers now owns 17,677 shares of the construction company’s stock worth $1,061,000 after buying an additional 1,168 shares during the period. SG Americas Securities LLC increased its holdings in shares of Argan by 36.7% in the second quarter. SG Americas Securities LLC now owns 8,190 shares of the construction company’s stock valued at $491,000 after buying an additional 2,199 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Argan by 5.9% in the second quarter. Legal & General Group Plc now owns 3,406 shares of the construction company’s stock valued at $205,000 after buying an additional 190 shares in the last quarter. 87.55% of the stock is owned by hedge funds and other institutional investors.
In related news, Director John Ronald Jr. Jeffrey bought 1,000 shares of Argan stock in a transaction that occurred on Monday, December 11th. The stock was acquired at an average price of $47.60 per share, for a total transaction of $47,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.50% of the stock is currently owned by company insiders.
Shares of Argan, Inc. (AGX) opened at $45.75 on Friday. The stock has a market cap of $720.68, a price-to-earnings ratio of 8.46 and a beta of 0.86. Argan, Inc. has a fifty-two week low of $41.79 and a fifty-two week high of $76.70.
Separately, Lake Street Capital cut Argan from a “buy” rating to a “hold” rating and dropped their price target for the company from $71.00 to $56.00 in a report on Thursday, December 7th.
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Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
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