Hillsdale Investment Management Inc. Buys 150 Shares of Argan, Inc. (NYSE:AGX)

Hillsdale Investment Management Inc. lifted its stake in shares of Argan, Inc. (NYSE:AGX) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,763 shares of the construction company’s stock after acquiring an additional 150 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.20% of Argan worth $3,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AGX. JPMorgan Chase & Co. grew its position in Argan by 70.8% during the third quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company’s stock valued at $3,836,000 after acquiring an additional 15,681 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Argan during the 3rd quarter valued at $1,373,000. State Street Corp raised its position in Argan by 4.8% in the 3rd 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. Victory Capital Management Inc. lifted its stake in Argan by 28.5% in the fourth quarter. Victory Capital Management Inc. now owns 17,515 shares of the construction company’s stock worth $2,400,000 after purchasing an additional 3,880 shares during the last quarter. Finally, Penn Mutual Asset Management boosted its position in 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 buying an additional 6,650 shares during the period. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total value of $1,220,666.65. Following the completion of the sale, the director now owns 11,792 shares in the company, valued at approximately $1,949,099.68. This trade represents a 38.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of the business’s stock in a transaction that occurred 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. This trade represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,185 shares of company stock valued at $1,644,859 over the last ninety days. 11.85% of the stock is owned by insiders.

Argan Trading Up 0.2 %

AGX stock opened at $120.79 on Friday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 25.27 and a beta of 0.58. The firm’s 50-day moving average price is $140.50 and its two-hundred day moving average price is $133.26. Argan, Inc. has a 12-month low of $48.85 and a 12-month high of $191.46.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Lake Street Capital downgraded Argan from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd. CJS Securities reiterated a “market perform” rating and issued a $150.00 price objective on shares of Argan in a research 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.