Value Aligned Research Advisors LLC Has $60.96 Million Holdings in Argan, Inc. $AGX

Value Aligned Research Advisors LLC raised its stake in shares of Argan, Inc. (NYSE:AGX) by 104.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 225,750 shares of the construction company’s stock after purchasing an additional 115,188 shares during the period. Argan makes up approximately 0.7% of Value Aligned Research Advisors LLC’s portfolio, making the stock its 29th biggest holding. Value Aligned Research Advisors LLC owned about 1.63% of Argan worth $60,964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its position in shares of Argan by 14,436.3% during the second quarter. First Trust Advisors LP now owns 329,393 shares of the construction company’s stock valued at $72,624,000 after buying an additional 327,127 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Argan by 696.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 296,988 shares of the construction company’s stock valued at $65,480,000 after acquiring an additional 259,720 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in Argan by 168.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 253,365 shares of the construction company’s stock worth $55,862,000 after acquiring an additional 159,149 shares during the last quarter. Invesco Ltd. boosted its holdings in Argan by 172.5% during the 2nd quarter. Invesco Ltd. now owns 229,893 shares of the construction company’s stock worth $50,687,000 after acquiring an additional 145,516 shares during the last quarter. Finally, TD Asset Management Inc bought a new stake in shares of Argan in the 3rd quarter worth $35,629,000. 79.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Lake Street Capital lowered shares of Argan from a “buy” rating to a “hold” rating and raised their price target for the company from $260.00 to $325.00 in a research report on Friday, December 5th. Freedom Capital raised shares of Argan to a “hold” rating in a research report on Tuesday, March 10th. Zacks Research lowered shares of Argan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b+)” rating on shares of Argan in a research report on Wednesday, December 24th. Finally, CJS Securities raised Argan to a “hold” rating in a report on Thursday, December 11th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Argan currently has an average rating of “Hold” and an average target price of $355.20.

Argan Price Performance

NYSE AGX opened at $470.86 on Thursday. The business’s fifty day moving average is $399.97 and its 200-day moving average is $335.79. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 55.46 and a beta of 0.57. Argan, Inc. has a one year low of $111.16 and a one year high of $485.70.

Insider Activity at Argan

In related news, Director John Ronald Jr. Jeffrey sold 5,000 shares of Argan stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $360.78, for a total value of $1,803,900.00. Following the sale, the director owned 8,192 shares of the company’s stock, valued at approximately $2,955,509.76. The trade was a 37.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William F. Leimkuhler sold 11,044 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $379.15, for a total value of $4,187,332.60. Following the completion of the transaction, the director owned 49,939 shares in the company, valued at approximately $18,934,371.85. The trade was a 18.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,915 shares of company stock valued at $19,854,754 in the last three months. Insiders own 6.69% of the company’s stock.

Argan Company Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.