Wells Fargo & Company MN decreased its holdings in Argan, Inc. (NYSE:AGX) by 5.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 188,420 shares of the construction company’s stock after selling 9,982 shares during the period. Wells Fargo & Company MN owned approximately 1.21% of Argan worth $8,479,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of AGX. Allianz Asset Management GmbH increased its stake in shares of Argan by 557.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 551,806 shares of the construction company’s stock valued at $37,109,000 after purchasing an additional 467,871 shares during the last quarter. Heartland Advisors Inc. bought a new position in shares of Argan in the 4th quarter valued at $4,500,000. First Trust Advisors LP increased its stake in shares of Argan by 26.7% in the 4th quarter. First Trust Advisors LP now owns 142,949 shares of the construction company’s stock valued at $6,433,000 after purchasing an additional 30,084 shares during the last quarter. LSV Asset Management bought a new position in shares of Argan in the 4th quarter valued at $1,233,000. Finally, Chicago Equity Partners LLC increased its stake in shares of Argan by 43.9% in the 4th quarter. Chicago Equity Partners LLC now owns 85,555 shares of the construction company’s stock valued at $3,850,000 after purchasing an additional 26,110 shares during the last quarter. Institutional investors own 83.78% of the company’s stock.
Argan, Inc. (NYSE:AGX) opened at $39.20 on Friday. Argan, Inc. has a 52 week low of $37.80 and a 52 week high of $72.70. The stock has a market capitalization of $633.61, a price-to-earnings ratio of 7.53 and a beta of 0.88.
AGX has been the topic of several recent analyst reports. TheStreet lowered Argan from a “b-” rating to a “c+” rating in a research note on Tuesday, February 6th. Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and decreased their price target for the company from $71.00 to $56.00 in a research note 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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