Hillsdale Investment Management Inc. Raises Stock Holdings in Argan, Inc. (NYSE:AGX)

Hillsdale Investment Management Inc. raised its position in shares of Argan, Inc. (NYSE:AGX) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,763 shares of the construction company’s stock after purchasing an additional 150 shares during the period. Hillsdale Investment Management Inc.’s holdings in Argan were worth $3,668,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Argan by 81.8% during the 3rd quarter. Wellington Management Group LLP now owns 911,056 shares of the construction company’s stock valued at $92,408,000 after acquiring an additional 409,948 shares during the period. American Century Companies Inc. increased its stake in shares of Argan by 18.1% during the fourth quarter. American Century Companies Inc. now owns 480,658 shares of the construction company’s stock valued at $65,869,000 after purchasing an additional 73,654 shares in the last quarter. State Street Corp lifted its holdings in shares of Argan by 4.8% during the third quarter. State Street Corp now owns 353,984 shares of the construction company’s stock valued at $35,905,000 after purchasing an additional 16,055 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Argan by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 287,246 shares of the construction company’s stock worth $29,141,000 after purchasing an additional 1,553 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Argan by 80.3% in the 4th quarter. Bank of New York Mellon Corp now owns 186,437 shares of the construction company’s stock worth $25,549,000 after buying an additional 83,039 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.

Analysts Set New Price Targets

AGX has been the topic of several analyst reports. CJS Securities reissued a “market perform” rating and issued a $150.00 target price on shares of Argan in a report on Friday, December 6th. Lake Street Capital cut shares of 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.

Argan Stock Up 0.2 %

Shares of NYSE AGX opened at $120.79 on Friday. The firm has a market cap of $1.64 billion, a P/E ratio of 25.27 and a beta of 0.58. Argan, Inc. has a twelve month low of $48.85 and a twelve month high of $191.46. The company has a 50 day moving average of $140.50 and a 200 day moving average of $133.26.

Insider Transactions at Argan

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 11,792 shares of the company’s stock, valued at approximately $1,949,099.68. The trade was a 38.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 9,367 shares in the company, valued at approximately $1,405,050. The trade was a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,185 shares of company stock worth $1,644,859 over the last quarter. 11.85% of the stock is currently owned by insiders.

About Argan

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.